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SOURCE Single Touch Systems, Inc.
Company's New FollowMe Product Delivers Location Based Mobile Advertising in the Fastest Growing Segment of the Industry
JERSEY CITY, N.J., Jan. 17, 2014 /PRNewswire/ -- A compelling market industry report citing encouraging growth in mobile advertising spending provides Single Touch Systems, Inc. (OTC BB: SITO), with an upbeat perspective on the Company's future outlook into 2014. Research firm eMarketer forecasted U.S. spending on mobile advertisements to have reached $9.6 billion in 2013, up 120% from $4.36 billion in 2012. Additionally a recent Zenith Media report cites that mobile will be the fourth largest advertising category by 2016, surpassing print, outdoor, radio and cinema, leaving it behind only desktop, TV and Internet.
Currently mobile advertising represents approximately 23% of digital ad budgets, up from 12% last year. EMarketer estimates that overall digital ad spending in the U.S. will grow by nearly 16% by the end of 2013, to $42.6 billion. Mobile advertisements will continue to eat up a larger share of the digital ad market until surpassing ad spending on desktop computers in 2017.
Commenting on the report, Single Touch's President and CEO stated, "It was very encouraging to see validation from such industry findings. Over the past year, the digital marketplace has undergone a major transformative phase with mobile ad spending driving most of the growth. There is measurable evidence that mobile ad growth is clearly trending upwards and we believe we are well positioned to capture a substantial share in the digital ad space. Mobile advertising will be the growth engine to digital advertising in 2014 and beyond, just as digital advertising was and is to traditional advertising which started a decade ago."
Single Touch's FollowMe mobile technology targets consumers based on their precise location by placing "geo-fences", a virtual perimeter within a radius of a store or point location. Ads are delivered based on specific demographic profiles. The Company's proprietary FollowMe mobile demand side platform reaches 400 million consumers and can serve 40 billion impressions per month within 15 feet of a specific GPS coordinate. According to BIA/Kelsey, location targeted mobile ad revenues will reach $10.8 billion and grow to 52% of overall mobile revenues by 2017.
Mr. Orsini added, "Whether it is promotional ads or coupons like what we've done for Peter Piper Pizza or brand awareness like our work with GAF, North America's largest roofing manufacturer, mobile app advertising is an economical marketing outreach solution for most brands."
About Single Touch Systems, Inc.
Single Touch Systems, Inc. is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch's multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. For more information about Single Touch Systems, Inc. visit: www.singletouch.net
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, our reliance on brand owners and wireless carriers, the possible need for additional capital as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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