Q1 2009 Results Best Ever in Company’s Four Year History
NEW YORK – MobilityWire® – June 2, 2009
Flycell, Inc., a leading mobile and online entertainment content company, today announced the company has achieved over 60 percent growth comparing Q1 2009 to Q1 2008 and over 25 percent comparing Q1 2009 to Q4 2008. Even as industry analyst firms have forecasted falling mobile content and entertainment revenues as discretionary spending declines due to the current economy, Flycell reported its two best-ever quarters with Q1 2009 being the most successful in the company’s four year history. Flycell’s parent company, Acotel Group (MIL: ACO), reported Flycell earned approximately $75 million in 2008. For Q1 2009 Acotel reports Flycell took in close to $23 million in revenue as compared to $14 million in Q1 2008. Flycell continues to be a profitable enterprise.
Mobile entertainment industry forecasts cited reduced discretionary spending for services, specifically singling out ringtones, leading to a decline in mobile content and entertainment revenues. However, Flycell founder and CEO, Alberto Montesi, sees a different trend impacting his company.
“Many of the hurdles to mass adoption of mobile content have been significantly reduced,” said Montesi. “Over the last year in particular, people have discovered that they can use their mobile phone for more than just calls and text messages. More capable phones increase people’s desire to personalize their devices with ringtones, games and applications. Despite the faltering economy, the low price point has made mobile entertainment an appealing purchase, as demonstrated by our financial performance.”
Ringtones continue to be the most popular mobile content beyond SMS. With its continued success, Flycell plans to expand into other areas of mobile and digital entertainment later this year.
“One of the keys to our success is our business model,” continued Montesi. “We find that people don’t want to be charged every time they download a ringtone, game or song. Flycell charges a flat subscription fee, covering lots of different types of mobile content that can work on the widest variety of mobile phones. People want this ‘volume without restrictions’ approach.”
“We seem to be recession-proof,” said Montesi. “While many of our competitors are requiring infusions of cash in order to stay in business, Flycell will grow with new services and expand into new countries on our own steam.”
Flycell, Inc. is a leading mobile and online media and entertainment destination. Flycell lets people from all walks of life personalize their phones with the mobile content that reflects their own unique tastes in entertainment, sports, games and more. The company partners with media companies and mobile network operators globally that utilize Flycell’s cutting edge multimedia applications and services. Headquartered in New ork, N.Y. and launched in 2005, Flycell is a wholly-owned subsidiary of wireless services company Acotel Group (MIL: ACO).
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