2014-01-21 13:36:13 -
Hong Kong, January 21, 2014 /FSC/ - UMeWorld Limited (UMEWF - OTCQB),an emerging digital media company based in China, is pleased to announce that Dingyou (Guangzhou Dingyou Information Technology Co, Ltd.), its recently acquired mobile gaming company, has signed an exclusive distribution agreement with Mobvista Network Co., Ltd. for Journey To The West in the Vietnam market. Under the agreement with Mobvista, the game is expected to generate a guaranteed minimum revenue of RMB$7,200,000 (US$1.2 million) to Dingyou in 2014.
Daniel Ding, President of Dingyou commented, "I am very pleased with this milestone in that we have succeeded in expanding into the burgeoning South East Asia mobile game market which is expected to reach $1.2 billion sales in the next
three years according to third party market research. I am very optimistic that Journey To The West will continue to attract distributorships in other Asian countries and I look forward to launching our next game targeting global players this summer."
Michael Lee, President of UMeWorld commented, "Dingyou's proven management team has made significant progress since inception just 12 months ago. Dingyou already has contracted revenue of $1.6 million for Journey To The West in China and in addition to the $1.2 million from Vietnam, we are almost half way to our expected revenue of $6.0 million for the game".
UMeWorld's mission is to facilitate the interaction between people -- "You" and "Me," through its UMeLook and UMFun platforms. UMeLook.com, an online video platform focused on bringing foreign video content to China, is deployed through a sophisticated CDN (Content Delivery Network) with broad coverage throughout Mainland China, Hong Kong & Taiwan. UMeLook.com plans to be a source of foreign video content for the Chinese viewer across any Internet-enabled device in China. UMFun.com is the only cloud based, patent pending adaptive learning educational platform in China. The Platform name UMFun(tm) in the Chinese language means 'Full Mark'. It is a cost effective, engaging and fun to use assessment and tutoring platform that can intelligently analyze and adapt to a student's performance and personalizes the delivery of proprietary educational items according to the student's learning needs.
Forward Looking Statement
This release may contain projections and other forward-looking statements that involve risks and uncertainties. Forward-looking statements are projections reflecting management's judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate," "confident" and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. Future performance cannot be assured. Readers are referred to the documents filed by UMeWorld with the Securities and Exchange Commission (SEC), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.
Potential risks and uncertainties include, but are not limited to: whether our 2014 revenue guidance for Journey To The West can be achieved, whether a digital strategy can be achieved and the risks that there are uncertainties and matters beyond the control of management, and other risks outlined in the Company's filings with the U.S. Securities and Exchange Commission.
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CEA Capital Advisors
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Source: UMeWorld Limited (OTCQB: UMEWF) www.umeworld.com
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