GoFish Corporation Reports 118% Increase in Revenues in the Third
Quarter
SAN FRANCISCO--(BUSINESS WIRE)--GoFish Corporation (OTCBB:GOFH) (www.gofishcorp.com),
a leading online entertainment and media network, reports a substantial
increase in revenues for the third quarter ended September 30, 2008,
marking the second consecutive quarter of approximately 100% revenue
growth over the prior quarter. Financial highlights include:
-
Revenues for the third quarter of 2008 were $2.79 million,
representing a 118% increase over revenues of $1.28 million from the
previous quarter and a 474% increase over revenues of $485,812 for the
third quarter of 2007
-
GoFish remains on track to meet its previously disclosed full-year
guidance of revenues between $8.5 to $11.0 million
Other Highlights for the Quarter
GoFish’s audience increased three times faster
than the Kids Entertainment category as a whole. Of the top three
competitors, only GoFish showed market share growth from August to
September in the Kids Entertainment Category, while the others
experienced seasonal decreases with Disney Online falling by 2.8% and
Nickelodeon Kids & Family by 1.4%.*
Blue-chip brands, including 12 Fortune 500 companies, leveraged
innovative solutions on the GoFish Network in Q3 to launch new products
and seasonal campaigns.
Management Comment, Matt Freeman, CEO of GoFish
“We have experienced tremendous growth since
launching our network in February, nearly doubling revenues for two
consecutive quarters. The demand from brands for GoFish’s
differentiated product offering is clear.
“Leading advertisers are increasingly
underserved in digital media. GoFish serves a need that neither the
Portals nor standalone niche sites effectively address -- brand
immersion at scale. We achieve this through well crafted solutions that
leverage both deep, immersive experiences and high-impact reach against
targeted audiences. We bring innovation, energy and real creativity to
meet campaign objectives. And our advertisers are responding with
enthusiasm.
“GoFish is a top 3 advertising opportunity for
the youth market domestically and we have our sites set on securing the
leadership position in the upcoming months.”
About GoFish Corporation
GoFish Corporation (www.gofishcorp.com)
(OTCBB:GOFH), headquartered in San Francisco and New York with sales
offices in Los Angeles, Chicago and Detroit, is a leading entertainment
and media company focused on brand immersion experiences that reach
youth and moms in a deeply engaged state of mind. GoFish specializes in
aggregating and distributing premium content on a large network of
quality sites for which GoFish is the exclusive brand advertising
monetization partner. The GoFish Network of sites reaches over 23
million unduplicated online users domestically and 71 million worldwide.
It ranks as the third largest online U.S. youth opportunity and a top
five ‘mom’
opportunity for blue-chip advertisers.
*Source: comScore Media Metrix Media Trend (with duplication), September
2008. Potential reach as shown by the GoFish Youth Entertainment Custom
Entity. Audience increase based on three month average Unique Visitors,
as compared to the previous quarter. Market share based on reach in Kids
Entertainment category.
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties, such as statements of GoFish’s
plans, objectives, expectations and intentions. Forward-looking
statements in this press release are generally identified by words, such
as “projects,” “believes,”
“anticipates,” “plans,”
“expects,” “will,”
and “would,” and
similar expressions that are intended to identify forward-looking
statements. Forward-looking statements in this press release include,
without limitation, the statement that GoFish remains on track to meet
its full-year revenue guidance. Forward-looking statements involve known
and unknown risks, uncertainties and other factors that could cause the
actual results, performance or achievements of GoFish to be materially
different from those expressed or implied by forward-looking statements.
Risks, uncertainties and other factors that could cause or contribute to
such differences include, but are not limited to: (i) GoFish’s
historical operating losses and uncertainties relating to GoFish’s
ability to generate positive cash flow and operating profits in the
future; (ii) difficulty in evaluating GoFish’s
future prospects based on GoFish’s limited
operating history and relatively new business model; (iii) GoFish’s
ability to attract new advertisers to the GoFish Network and retain
present advertisers; (iv) the highly competitive nature of GoFish’s
business; (v) GoFish’s ability to effectively
manage expected growth and (vi) other risk factors discussed in GoFish’s
periodic filings with the Securities and Exchange Commission, including
GoFish’s Annual Report on Form 10-KSB for the
fiscal year ended December 31, 2007 and GoFish’s
subsequent Quarterly Reports on Form 10-Q, which are available on a
website maintained by the Securities and Exchange Commission at www.sec.gov.
GoFish undertakes no obligation to publicly update or revise any
forward-looking statements or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise unless required to do so by the securities laws. Investors are
cautioned that forward-looking statements are not guarantees of future
performance and that undue reliance should not be placed on such
statements.
GoFish Corporation
David Lorie, 415-738-8706 (Investor Relations)
General
Counsel
dlorie@gofishcorp.com
or
George
H. Simpson Communications
George Simpson, 203-521-0352 (Press)
george@georgesimpson.com
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