SOURCE: Multimedia Platforms, Inc.

Multimedia Platforms, Inc.

March 31, 2016 08:00 ET

Multimedia Platforms Provides Shareholder Update and Reports 2015 Full Year Financial Results

FT. LAUDERDALE, FL--(Marketwired - Mar 31, 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 period ended December 31, 2015.

GAAP revenue for the year ending December 31, 2015 totaled $1.8 million as compared to $642,173 for the same period in 2014, an increase of approximately $1.2 million. Revenue increased due to expanded circulation, increased sales efforts and the inclusion of revenue from acquired businesses, Columbia FunMaps, Inc., Next Magazine, and Frontiers. On an unaudited consolidated pro forma results of operations as if the Company's acquisitions occurred on January 1, 2014, revenue totaled $3.3 million. Based on GAAP revenue, for the period ended December 31, 2015, gross profit totaled $794,404 and gross profit margin 43.8%.

Bobby Blair, Chief Executive Officer of Multimedia Platforms, commented, "Upon going public in early 2015, we set forth a strategy to acquire the most prominent publications in the LGBT community. We successfully acquired three top global brands providing news and entertainment to the LGBTQ community and their following. These brands consisted of some of the industry's most viewed and read social media channels, websites and print publications in the world. Today, we own five publications encapsulating a readership of nearly 7.5 million, 4.8 million unique visitors annually and over 200,000 social media followers. These valuable assets including industry-leading content and influential content creators in the LGBT community allowed us the opportunity to launch WiRLD, the first global LGBT digital media hub. Since launching in beta on February 1, 2016, we have continued to attract users in the LGBT community as well as globally recognized advertising partners in the travel, hospitality and auto industries. WiRLD is ever-evolving with new features and benefits for our users and advertisers. As we look out into 2016, we have set forth a number of milestones that will allow us to continue building our brand and following in the LGBT community."

2016 Milestones:

  • 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.

  • Frontiers magazine will be re-launching its FrontiersMedia.com website on April 5, 2016, which will coincide with the 2016 Spring Culture & Entertainment Preview issue. This will be in conjunction with a social media campaign that will go into effect on that same day.

  • Next magazine's NextMagazine.com website will be re-launched in mid April 2016. This will also launch Next magazine's new and improved digital "Shot In The Dark" section!

  • Florida Agenda will be re-launching its FloridaAgenda.com website in April 2016, which will be on the eve of the 18th Annual Miami LGBT Film Festival.

  • The new Frontiers, Next and Florida Agenda websites will all be powered by the WiRLD UI, which will allow members from each respective website to earn reward tokens redeemable for a variety of gifts, goods, services, experiences and travel.

  • WiRLD.com is on target to launch V1.0 of My WiRLD Community on April 4, 2016. It will be the first Social and Digital Content Community site specially targeting the LGBTQ audience. The integrated module will be part of the user experience as a member on any of MMPW Digital properties: WiRLD.com, FrontiersMedia.com, NextMagazine.com, FloridaAgenda.com.

  • WiRLD Streaming Network, an online digital streaming network to be launched during the third quarter of 2016, will feature a variety of drama series, documentaries, comedy shows and live simulcast events. Assembled will be an Emmy Award-nominated group of executives in Hollywood who are currently sourcing and developing original content to be aired exclusively on our LGBTQ network.

  • On March 2, 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.

  • 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-K 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 Frontiers magazine, Florida Agenda, FunMaps re-branded as WiRLD City .Guide, Guy magazine 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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