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PAID Inc. Growing Client Base, On Track for Increased Revenue in 2012(May 07, 2012)
WESTBOROUGH, MA -- (Marketwire) -- 05/07/12 -- PAID Inc. (OTCBB: PAYDE) (OTCBB: PAYD) has been steadily adding clients and growing revenue in 2012 and is on track for its highest revenue ever in 2012.
"Based on revenue already booked, projects already underway and contracts already signed, we anticipate that 2012 will be PAID's best year financially," stated Christopher Culross, PAID Inc. CFO. "New business prospects and other activities currently in the new business pipeline could further increase revenue. We expect to share a more detailed projection after releasing financial results for year-end 2011 and first quarter 2012."
PAID accelerated its new business development efforts starting in 2011, resulting in more than doubling its client roster since the first quarter of 2011, for a total of more than 100 clients, including music and entertainment artists and major brands.
"We have partnered with forward-thinking companies and cooperatively are driving change within the music, entertainment and brand marketing industries," stated Keith Garde, President of PAID Inc. celebrity services. "Our PAID Inc. celebrity services team has established a track record of excellence on initiatives completed for clients, many whom our partners have referred to us. We have become a trusted and valuable partner and resource to them. This has resulted in a dramatic increase in client referrals from partners such as Topspin Media, Moontoast and one of the world's largest merchandising companies."
Garde noted, "With the expansion of our business development team last fall, including the addition of Tommy Nast, we have also been able to pursue and close more new business opportunities. Although confidentiality agreements prevent us from disclosing certain partners' and clients' names, the increase in revenue will convey the reality of our growth."
In this explosive year of top-name concert tours, VIP fan experience programs are providing bands' biggest fans with once-in-a-lifetime experiences that go beyond just a seat in the audience. PAID is at the forefront of this artist-to-fan relationship revolution, coordinating more VIP fan experience programs this concert year than ever before. PAID has just concluded VIP fan experience programs for two artists' 2012 North American tours, and sales of VIP programs are currently underway for numerous additional artists. With VIP fan experiences offered via band websites and major ticketing outlets, many packages are selling out quickly in most markets but some are still available for selected venues!
"Artists are looking for 360 degree services to help them manage every aspect of their careers," explained Garde. "PAID is a direct-to-fan service provider offering a full range of services -- everything from traditional and online marketing, ecommerce, merchandising with complete pick-pack-ship fulfillment services, and graphic design, to web development for optimized fan community building and VIP experience programs. The VIP fan experience is a critically important piece of the fan-to-band connection. We make sure that each experience is perfect in every way, adding to the full array of opportunities PAID Inc. offers artists to earn more, own more and keep more of the business they have created in the first place."
About PAID Inc.:
PAID Inc. is a one-stop brand management and marketing resource to music, entertainment and sports personalities and organizations, and offers AuctionInc online shipping calculation and shopping cart software employing its patented technology to streamline ecommerce. Known for quality and customer service, PAID offers turnkey online, mobile, social media and traditional marketing campaigns, as well as award-winning video & film production, VIP ticketing, web site design, merchandising, ecommerce and fan community management programs. More details are available at www.paid.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the company's cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company's most recent filings with the Securities and Exchange Commission.
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