HONG KONG--(BUSINESS WIRE)--UMeWorld Limited (OTCQB: UMEWF) is pleased to announce a new revenue model for UMFun based on three different pricing levels: Freemium, Premium and Super Premium. The new pricing model represents the Company’s new marketing initiative which will allow UMFun to be available to 230 million Chinese K-12 students. The three pricing levels are based on feedback from existing users, educational professionals and several potential national distributors.
Super Premium (US$5.00/month) - The Super Premium plan offers the best value. Users have access to all of the UMFun features including educational videos, detailed assessment and behavior tracking reports. The Super Premium plan will be marketed by national distributors.
Premium (US$1.60/month) - The Premium plan is a great way for subscribers to assess the benefits of UMFun. Users have access to most UMFun features including educational videos and detailed assessment reports. The Premium plan will be marketed by national distributors.
Freemium (Free) - The Freemium plan will be bundled with the Cloud Terminal which is powered by UMFun, as previously announced. The Freemium plan is designed to capture market share, block the competition and expand market reach. It is anticipated that most Freemium users will eventually upgrade to Premium and Super Premium plans.
In addition to the above revenue model, UMFun will provide a market place for third party service and product providers, such as teachers and teaching material publishers, to market their products to UMFun users. UMFun will charge a transaction fee on product or service sales.
Michael Lee, President & CEO commented, “We have made some significant progress on several educational market fronts. The Cloud Terminal solution servicing Chinese schools is a major breakthrough for UMFun, as this market has never been previously accessed. The Cloud Terminal solution is scalable and offers UMFun the opportunity to dominate the K-12 market. Additionally, we are in the final stage of negotiations with a well recognized, brand name national carrier to market UMFun Premium plans to millions of its users. Once this transaction is complete, it will provide a significant revenue stream to UMeWorld for 2014 and beyond.”
The K-12 education system in China is the largest in the world, consisting of 230 million students. UMeWorld is on track to becoming a leading educational service provider in China.
UMeWorld's mission is to facilitate the interaction between people through its UMeLook, UMFun and UMeGame business divisions. 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. UMFun.com 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. UMeGame.com is a mobile game developer seeking to capitalize on the fast growing mobile gaming market through the sourcing, development and publishing of the best mobile games, applications and services.
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. 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.
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CEA Capital Advisors