SOURCE: Fortitude Group Inc
ERIE, PA--(Marketwired - May 21, 2014) - Fortitude Group, Inc. (PINKSHEETS: FRTD) announced today that they have executed a database distribution partnership with a New York-based global event media company.
The product will be launched at a major media event that will be hosted by the media company and include a VIP celebrity party to spotlight the partnership. The name of the media company is being withheld to the public until the private partnership launch party on July 26, 2014. The public launch will be July 28, 2014.
Under the terms of the agreement, Fortitude shall market the media company's product applications to Fortitudes recently acquired database. The purpose will be to target market the media company's new media app in a Direct-to-Consumer distribution forum. The media app has completed its final BATA test and is ready to launch to the public. The app will allow users the ability to build custom content channels which will include digital print, TV and Featured Films in one application. The media company specializes in up and coming content that is not currently being distributed via traditional methods.
Thomas J. Parilla, CEO of Fortitude, stated, "This partnership is the first of many that will monetize our recently acquired database. For each app that is downloaded, we will receive an initial payment of $5.00 and a residual monthly payment of $1.72 for active accounts. Our test campaigns have returned an average of 8%, which is far better than industry results of 2%. Our tests were conducted with 100,000 database opt-in users and we achieved 8% or 8,000 newly acquired app users by sending to the same 100,000 users 2(x) daily for 3 consecutive days. Our goal is to achieve no less than 500,000 downloads before the end of 2014."
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.