HOLLYWOOD, Aug. 5, 2014 (GLOBE NEWSWIRE) -- The Movie & Music Network (OTC:DIDG), the Hollywood, California-based online content provider, has paid off another note in its convertible debt portfolio, avoiding commensurate dilution in share value.
Stated Martin W. Greenwald, CEO, "I am pleased to report that our operations are sufficient enough so that we've been able to stay on our schedule of retiring our convertible notes as they become due. This is key to maintaining shareholder value, something we take very, very seriously."
The Movie & Music Network provides film and television content to monthly subscribers who access the service online or through the increasingly popular Roku set-top box format. The company posted year-over-year revenue growth of 93% and subscriber growth of 114% between second quarter 2013 and second quarter 2014. Financials are set to be released within the next two weeks.
"We're very pleased with both revenue and subscriber growth of late," Greenwald added. We're eagerly awaiting final approval from Apple on our iOS mobile app, with Android to follow soon thereafter. Exposure to the mobile market is a heartbeat away, and we expect significant increases through reaching a much wider audience of devices. We've also just launched our cannabis channel, MJ360.tv, and it's a wonderful counterbalance to our other programming, because we're taking full advantage of the live streaming aspect of internet TV. We've got a show on MJ360 called 'GrassRoots' and this Thursday is our first-ever live stream. As someone who remembers live TV from the 1960s, I have to say I think this era is even more exciting."
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Digital Development Group Corp. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Digital Development Group Corp. undertakes no obligation to revise these statements following the date of this news release. 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.movieandmusicnetwork.com/secfilings
CONTACT: Press Contact: Zack Davis 6630 Sunset Blvd. Los Angeles, CA., 90028 email@example.com
Source: The Movie & Music Network