SOURCE: Multimedia Platforms, Inc.

Multimedia Platforms, Inc.

May 18, 2016 12:14 ET

Multimedia Platforms Increases Revenue 272% Year-Over-Year for the 2016 First Quarter

FT. LAUDERDALE, FL--(Marketwired - May 18, 2016) -  Multimedia Platforms, Inc. (OTCQB: MMPW) ('MMPW' or the 'Company'), the only publicly traded LGBT media company, provides shareholder update and reports its financial results for the three month period ended March 31, 2016.

Net revenue for the 2016 first quarter increased $515,020 or 272% to $704,655 as compared to $189,635 for the same period the prior year. Revenue increased due to expanded circulation, increased sales efforts and the inclusion of revenue from acquired businesses, Columbia FunMap, Next Magazine and Frontiers Magazine.

Bobby Blair, Chief Executive Officer of Multimedia Platforms, commented, "We are pleased with our revenue growth during the quarter, driven by the consolidation and full integration of our LGBT media assets. Next, Frontiers and the Florida Agenda were successfully re-launched which increased our viewership, engagement and ultimately drove sales. We have successfully leveraged the dedicated user following and content of each respective asset to continue building WiRLD, our LGBT digital and social hub. New features in Q2-2016 will include My WiRLD Community, the first social and digital content community, and the re-launch of NextMagazine.com and FloridaAgenda.com powered by the WiRLD UI, which will allow members to earn reward tokens. The evolution of WiRLD has just begun. Going forward we will continue investing in ourselves and our long term vision."

2016 Milestones to Date:

  • In March 2016, the Company launched the WiRLD City Guide, a business directory resource with over 22,000 LGBTQ-friendly businesses, accessible to visitors and members on-the-go in search of restaurants, specialty shops, hotels, resorts, bars, clubs, and professional services.

  • In March 2016, the #1 South Florida LGBT lifestyle magazine GUY was rebranded as NEXT. Guy magazine had been a fixture on the Fort Lauderdale/Miami/Palm Beach gay scene for seven years, and had grown into a 98-page weekly edition that provided the best coverage, the best articles, the best columnists, the best event calendar, the best photography, the best design and the best advertising rates in the market.

  • Frontiers magazine re-launched its FrontiersMedia.com website in April 2016, powered by the WiRLD UI, which will allow members to earn reward tokens redeemable for a variety of gifts, goods, services, experiences and travel.

  • Guy magazine was rebranded allowing it, and its Orlando edition Guy Central Florida, to join together and share the enormous Next magazine fan base to collectively become the leader in providing LGBT fashion, fitness, film and financial news to the LGBT community.

Please refer to the Company's Form 10-Q filed with the Securities and Exchange Commission for further details.

About Multimedia Platforms:

Multimedia Platforms Inc. ("MMPW") is an industry-leading multimedia, technology and publishing company that delivers content and advertising to one of the most sought-after demographics in the world -- the Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) population. MMPW's top brands include WiRLD, Frontiers magazine, Florida Agenda, FunMaps re-branded as WiRLD City Guides, Guy magazine re-branded as Next Florida and Next magazine, representing approximately 7.5 million readers and more than 4 million unique online visitors annually. For more information please visit www.multimediaplatformsinc.com or follow us on Twitter at https://twitter.com/mmpworldwideinc.

Safe Harbor Statement:
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends, " "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

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