Company's Second Social Media Gaming Application Taps Into a Market Estimated at More Than US$825 Million
LEESPORT, PA, Oct 26, 2010 (MARKETWIRE via COMTEX) -- Idle Media, Inc. (OTCBB: IDLM) announced today that it has launched its first Facebook gaming application, 'Backyard Buddies.'
Backyard Buddies is a casual game where you take care of your virtual "backyard" and the animals in it. You buy food to lure animals to your yard. Once there, you feed them and play with them to keep them happy. You also clean and decorate your yard to keep the animals content. The happier an animal is, the more "goodies" it brings. Goodies can be sold for gold to buy more food, decorations, scenery etc. You can also clean your friends' yards and feed their animals as well.
"Backyard Buddies is our first social gaming application specifically for Facebook, which reports over 400 million active users worldwide," stated Mr. Marcus Frasier, President and CEO of Idle Media, Inc. "We learned quite a bit from the development of Prison Block, which was our first social gaming product, and integrates with Facebook. When we acquired the Backyard Buddies concept earlier this year, we immediately began putting our prior experience into practice."
The launch opens the door for Idle Media to expand its target audience via cross-platform marketing of its core products, and builds on the Company's social media and virtual goods strategies. Idle Media's "Freemium" gaming model incorporates free-to-play games with in-application purchases.
According to a recent report from Inside Network, the social media gaming and virtual goods market is expected to hit $1.6 billion in revenue in the U.S. this year. In the report, Justin Smith, founder of Inside Network, commented that, "... social gaming startups -- which didn't exist three years ago -- will account for about $835 million of that total."
Mr. Frasier added, "Although not brand new, this space is still in its infancy. Zynga, a private company which has attracted over $500M in funding, is the leader in social gaming. The company is only a little over 3 years old and is reportedly generating an estimated $1 million per day plus in revenue; the growth is just explosive. It's easy to see why we are so excited and are throwing our hat into the 'proverbial' ring."
"Social media is an extremely important component of our overall growth strategy. Hundreds of millions of people worldwide now use social media sites, and the revenue creation opportunities are still being conceived. We intend to leverage our existing user-base and core development strength to maximize the potential that has been created, not only on Facebook, but also across other networks such as MySpace, Twitter, etc. We'll be bringing our own, unique 'spin' to the space and we're confident that it will resonate with users."
About Idle Media, Inc.
Idle Media, Inc. is a publicly traded new media technology company that delivers cutting-edge content and online gaming through its wholly-owned operating companies, including: Dat Piff, a leading provider of online mixtapes and user-generated content; Chixrus, a tween-focused girl gaming site; Prison Block, a multi-player social game with over 50,000 users; Backyard Buddies, a casual game for designed for Facebook, and Tweetvibe, a site where users can purchase unique Twitter backgrounds.
Learn more about Idle Media, Inc. at: http://www.idlemedia.com. Follow Idle Media on Facebook and Twitter.
Information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. The forward-looking statements may include our future operations, financial condition and prospects and business strategies. These forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in this press release or in other documents including those filed with the SEC. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
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