HOLLYWOOD, March 12, 2014 (GLOBE NEWSWIRE) -- The Digital Development Group (OTCBB:DIDG), to better serve its core focus of programming, has changed its operating name to "The Movie & Music Network."
The online content provider, formerly known as DigiDev TV, has been enjoying significant subscriber growth over the last two quarters. Since the launch of the Movie & Music Network website and Roku application March 6th, the Company has seen an approximate 10% increase in subscribers and roughly 15,000 downloads of its application. The simultaneous launch of four new channels brings the total to sixteen channels offered by The Movie & Music Network. Plans are for adding a minimum of ten channels per quarter.
Enthused CEO Martin W. Greenwald, "All of us at the Movie & Music Network have worked long hours to launch of our new network. The result means that our programming is available to over seven million Roku owners."
The Company expects the completion and launch of Android and Apple iOS mobile applications within the next 90 days. Greenwald added, "In the five days since launch we've added approximately 200 new subscribers to our base, which is now over 2000. Additionally, 15,000 households have downloaded our app, and we will get additional subscribers from that universe. We've also raised our price for the network from $4.99 to $5.99 per month for all sixteen of our channels. With over 3000 current titles, we envision growing to 5000 titles by June 30th. Viewing the depth and breadth of our opportunity, I am pleased to see Roku's geographic impact on our base. Since launch, we have signed subscribers from around the world. Brazil, Argentina, Australia, New Zealand, England, Ireland and others are joining our widening fan base."
The company has committed to an aggressive marketing campaign set to begin in three weeks. Explains Greenwald, "The bulk of our marketing investment targets multiple social media platforms (Facebook, Twitter, etc) and online advertising on the Roku site, which ensures exposure to millions of viewers. With marketing initiatives, channel and title growth and a fast-growing industry, I am confident we will continue to see monthly double-digit growth rates. And by keeping a very tight rein on expenses, we are closing the gap on our monthly shortfall. Please be sure to visit us at www.movieandmusicnetwork.com."
Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. Please refer to our full disclaimer, which includes our safe harbor statement, by clicking on or copying this link below into your browser: http://www.digidev.com/hq/disclaimer
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Source: The Movie & Music Network