SANTA BARBARA, Calif.--(BUSINESS WIRE)--StreamTrack, Inc. (STTK) ("StreamTrack" or the "Company"), today announced its entry into daily fantasy sports. Under the terms of an exclusive Agreement with Global Gaming Network, Inc. (GBGM), StreamTrack shall assume all of the sales and marketing of the web and mobile based operations of ampedfantasysports.com, ampedfantasy.com and ampedfantasy.net. StreamTrack shall assume all revenue and cost of sales, marketing and fulfillment in connection with the Agreement commencing immediately.
Traditional fantasy sports games have been an integral part of the sports industry for decades. Now, the rapidly expanding “daily fantasy” or “DFS” industry is quickly becoming the new alternative with sports fans. Industry leaders have reported annual growth of daily fantasy sports of close to 300% over the past several years, with in excess of 40 million active players.
The Amped Fantasy brand will offer diverse contests to attract fans of all kinds that will help expand the growing industry. The mobile and web offering will include, but not be limited to free and paid daily, weekly, pick’em, salary cap, flex or customized roster and guaranteed prize or payout contests.
StreamTrack CEO, Michael Hill stated: “We’re extremely excited to see what the rest of 2015 has in store as we grow the user base of these web and mobile products. By offering both free and paid contests in multiple formats, this allows us to eliminate barriers for beginners that are new to daily fantasy sports. The product will also offer more competitive contests to attract more experienced daily fantasy players.”
Hill continued, “In the coming months we plan to rollout additional daily fantasy sports brands by way of acquisition and organic development to support the growing demand within this explosive industry. Providing additional content such as scores, news, stats and competitive video gaming will allow us to engage fans. We believe that daily fantasy sports is just beginning to scratch the surface of its full potential. Entering the daily fantasy sports industry is a major move forward for StreamTrack. With our current video and display advertising platform and existing distribution of online and mobile traffic we plan to capitalize on existing media. This Agreement provides StreamTrack strategic entry into this market immediately with a fully functional platform.”
Global Gaming Network, Inc President, Stephen Kern stated: “We are extremely pleased to have entered into this agreement with StreamTrack. The team at StreamTrack is extremely experienced within the media space of lead generation and customer acquisition. We believe they are now well positioned to enter this ever growing industry.”
Kern went on to say, “According to the Fantasy Sports Trade Association (FSTA), daily fantasy sports revenue in 2014 was around 1 billion dollars and is projected to grow to 17 billion by 2020. The regulatory environment around fantasy sports is helping foster this growth. With endorsements by professional sports organizations including the NFL, MLB, and NBA along with credible media outlets and organizations including Yahoo!, CBS, Rotowire, and more, daily fantasy sports is quickly becoming commonplace. Keeping in compliance with any applicable State and Federal guidelines is paramount to success and with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) defining fantasy sports as a skill based game it exempted fantasy sports from restrictions on Federal internet gaming restrictions. Furthermore, most states in the U.S. allow daily fantasy sports with several in process of legislation to legalize.”
About StreamTrack, Inc.
StreamTrack, Inc. (the "Company") is a digital media and technology services company. The Company provides audio and video streaming and advertising services through its RadioLoyalty™ Platform (the "Platform") to over 5,000 internet and terrestrial radio stations and other broadcast content providers. The Platform consists of a web-based and mobile player that manages streaming audio and video content, social media engagement, display and video ad serving capable of replacing audio ads with video ads within the web player in a live or on-demand environment. The Company offers the Platform directly to its broadcasters and integrates or white labels its technologies with web-based internet radio guides and other web-based content providers. The Company is also continuing development of WatchThis™, a patent-pending technology to provide web, mobile and IP television streaming services that are e-commerce enabled within streamed content.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about StreamTrack's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
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