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Global Gateway CEO Outlines 2010 Growth Initiatives in Shareholder Update
Sep 17, 2010 (09:09 AM EDT)
LOS ANGELES, Sept. 17 /PRNewswire/ -- Global Gateway Media & Communications, Inc. (Pink Sheets: GGMC), a leading provider of interactive television and e-commerce services, today issued the following letter to shareholders from the Company's Chief Executive Officer, Dr. Alex Parsinia:
Dear Valued Shareholder,
I am pleased to report that the Company has continued to grow despite difficult market conditions, and several initiatives are underway to help us continue our growth through the end of 2010 and 2011.
We anticipate strong growth in our 2010-2011 revenues, driven primarily by an increase in advertising and shopping network revenues, and key growth initiatives currently underway to increase viewership and gain new advertisers.
As many of you know, our model is very similar to QVC, which reported revenue of $7.4 billion in 2009, and was recently ranked as the second largest television network in terms of revenue.
Our model combines global television distribution, a robust e-commerce platform and print, and online advertising to strengthen our core brands.
The Company's television network, TM TV ( www.tmtv.us ) today reaches more than 10.2 million homes in the United States, Canada, Mexico and Central America, through satellite broadcasting 24 hours 7 days a week. Through IP TV, we have a global reach. The TM Shopping Network Web site, http://www.tmshoppingnetwork.com is a seamless extension of our television network, and offers a robust, user-friendly environment to make secure purchases online, similar to http://www.qvc.com.
We also utilize online and print advertising in well-known publications to build awareness for our home shopping and media brands.
Our strategy has always focused on organic growth and strategic acquisitions. Since our inception, the Company has aligned itself with strategic partners that expand our media offering and global reach, while creating and strengthening synergies between our advertising, and home shopping businesses.
By increasing our viewership and our content offering, which we have done, we directly increase our advertising revenues, and sales from TM Shopping Network.
We expect 2010-2011 to be a banner year for the Company. Over the next 2-3 months, we expect to add several new content and distribution partners. We anticipate these initiatives to directly impact our advertising revenue and viewership heading into the holiday shopping season.
Management is very excited about our focused growth strategy, and we thank you for your continued support. Please do not hesitate to contact me directly with any questions you may have.
Dr. Alex Parsinia
Chief Executive Officer
About Global Gateway Media & Communications, Inc.
Global Gateway Media & Communications, Inc. is a media and communications focused company. Through its subsidiaries and holdings, it has two core businesses: Media Broadcasting and Shopping Network. The company owns and broadcasts various programs from its own TV studio in Los Angeles, CA. The company's Satellite TV broadcasts, "Talk Money TV" and "TM Shopping Network," reach nearly 10 million potential viewing households in the US, Canada, and Mexico, as well as Central America. Through its strategic alliances, the Company's IPTV program has a global reach. For more information, visit http://globalgatewaymedia.com/.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE Global Gateway Media & Communications, Inc.