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Psychic Friends Network (PFNI) Leveraging New Technologies to Beat its Own $1 Billion Revenue Mark
Dec 11, 2012 (05:12 AM EST)
NEWARK, Delaware, December 11, 2012 /PRNewswire/ --
Psychic Friends Network, Inc. (OTCBB:PFNI), the company that grossed more than $1 billion in the '90s in a market they singlehandedly created, is leveraging new mobile and Internet technologies to reach a new generation of consumers and increase revenue beyond their impressive past levels.
The company has developed a new expanded and optimized "version 2.0" technology platform, currently in soft launch, that will make the company the first psychic entertainment service to offer a full-spectrum services menu, including traditional call-in, click-to-call, instant message text, instant message audio, video chat and mobile app offerings.
In the 1990s, the company employed only television and radio marketing, infomercials and simple 1-900 telephone technology to connect live psychic readers with customers. At the peak, using only those limited channels, PFNI generated revenues of up to $600,000 per day. They reached 14,000 paid calls and 150,000 psychic minutes sold on a daily basis.
The new 2.0 platform increases the company's reach to the public exponentially. In addition to traditional 800 number voice calls, PFNI customers can now connect through multiple channels, from any location, using their preferred communication. They will even be able to replay sessions at leisure. Additionally, the company's reach is no longer limited to the U.S. domestic market as it was when using 900-number phone lines. The Internet now allows customers worldwide to access and enjoy PFNI's offerings, with current customers coming from more than 50 countries.
This new 2.0 platform is also designed take advantage of new marketing and social media vectors to reach consumers. These vectors include click-through website ads, social media platform promotions on Facebook, Twitter, YouTube and others, and soon direct mobile device access via QR code scanning.
PFNI's comprehensive 2.0 technology platform is far ahead of other psychic services companies that are relying on traditional landlines or making only preliminary reaches onto the Internet, usually limited to website sign-up and psychic reader selection.
The Psychic Services Market
A recent report from IBISWorld Market Research showed that from 2007 to 2012, while most other industries were suffering the ill effects of an economic downturn, the psychic services industry grew 2.0% annually to an estimated $2.1 billion in the U.S. alone.
PFNI generated $1 billion in revenues, using limited technology, when the market was a fraction of its current size. The company, which has the original successful management team at the helm, expects its new 2.0 modern technology platform to help dominate the sector and surpass its previous high water revenue mark in short order.
About the Psychic Friends Network, Inc.
The Psychic Friends Network, Inc. (PFNI) is a marketing and entertainment company providing on-demand psychic advice as well as daily and weekly horoscopes. PFNI connects professional live psychic readers with customers via telephone (mobile and landline) and through their newly developed state-of-the-art online platform enabling interaction with video chat, voice or text chat. During the 1990s, PFNI pioneered the psychic industry with memorable television/radio marketing and infomercials. PFNI is re-launching the original brand on a new technology platform that will capitalize on the latest social media and video technologies to connect psychics with consumers.
To learn more about PFNI, visit PsychicFriendsNetwork.com
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Forward Looking Statements
This press release may be deemed to contain forward-looking statements, which may be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the re-launch of the Psychic Friends Network brand, PFNI's business plan, website and mobile applications. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, PFNI's ability to successfully re-launch its brand and operations and other risk factors set forth in PFNI's current report on Form 8-K dated March 30, 2012. Any forward-looking statements in this release are based on limited information currently available to PFNI, which is subject to change, and PFNI will not necessarily update the information.
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