HONG KONG--(BUSINESS WIRE)--The management team of UMeWorld Limited (OTCQB: UMEWF) is pleased to provide this shareholder update.
UMeWorld launched UMFun to China Mobile’s educational platform in the Guangdong Province on August 11th, 2014. Since then, more than 140,000 users have joined UMFun. On average, UMFun has added 1,000 new users daily and the subscription rate is growing week over week. The Company expects this rate to accelerate significantly, beginning next month, when the expansion pack, as previously announced, is completed. The expansion program provides course content to Grades 1-5 and Grades 10-12 respectively. Upon completion of this expansion, UMFun will provide courseware to accommodate China Mobile’s 40 million-plus K-12 paid educational website subscribers.
Due to the initial subscription success in Guangdong Province, UMFun's planned expansion into other provinces is being accelerated. The Company is now making preparations to launch UMFun in Guizhou Province in the first quarter of 2015. Launch dates for other provinces will be announced in early 2015.
The Company has been invited to exhibit UMFun at the upcoming 2014 China Mobile Global Partners Conference to be held on December 18th -20th, 2014 in Guangzhou, China. UMeWorld is pleased to have the unique opportunity of presenting UMFun to China Mobile’s provincial management staff and authorized agents at this event, paving the way for UMFun’s launch across China in 2015. The company is reaffirming its anticipated subscriber base of 2 million and 10 million subscribers in 2015 and 2016 respectively, as initially announced in July 2014.
The Company has submitted an application to the Chinese Ministry of Industry and Information Technology for a value-added telecommunication services permit ("VATS Permit"). The VATS Permit is required by Chinese government regulations in order to be able to collect revenue from UMFun users through China Mobile. The VATS Permit application normally takes up to 60 days to be processed.
China Mobile’s educational platform is available for students in kindergarten through grade twelve and is the world’s largest subscription-based communication platform in China, used mainly by teachers, parents and schools throughout many provinces in China.
The kindergarten-to-grade-12 educational system in China is the largest in the world, comprised of approximately 200 million students. UMeWorld is on track to becoming a leading educational service provider in China. UMeWorld is on track to becoming a leading K-12 educational service provider in China.
About China Mobile
China Mobile is the world’s largest mobile service provider by network scale and subscriber base, serving over 801 million customers. China Mobile is listed on both the New York and Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index in Hong Kong.
UMeWorld's mission is to facilitate the interaction between people -- "You" and "Me," -- through its digital platforms. Existing to date are, UMeLook.com - an online video platform focused on bringing foreign video content to China and UMFun.com - the only cloud-based, patent-pending, adaptive learning and assessment platform in China, that can intelligently analyze and adapt to a student’s academic performance, as well as deliver proprietary educational items based on individual learning needs.
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Telephone: (86) 020-89237947