Subaye Expands Into New Regions of Greater China
The company recently added 5,121 paying members in Hunan Province (3,021), Hong Kong (1,361) and Taiwan (739), an increase of 30 percent from its existing paying membership base.
Management expects these new members to contribute approximately $1.9m in revenues for fiscal year 2010 ending September 30, 2010, and approximately $4.7m for the next 12 months starting May 1, 2010.
The company also expects to add new members from Hubei Province within the next two months, and will begin business development in five additional provinces and regions in May 2010, which include Hainan, Fujian, Shanxi and Shaanxi.
Zhiguang Cai, CEO of Subaye, said: “We are very pleased to expand our video advertising platform into new regions of Greater China. We continue to experience robust growth driven by both existing and new customers.
“With over 20 percent annual growth projected for the Chinese Internet advertising market through 2010 fueled by a sharp trajectory in franchise and chain store enterprises, we believe Subaye's online video advertising platform is well positioned to capitalize on this large secular growth opportunity and further increase market share in China's rich media advertising business.”
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