Earlier this week PlayNetwork celebrated a ‘banner year’ with the following announcement – totally forgetting the most important point of the year for them was surely being voted by DailyDOOH as the Global Number 1 Music Provider in “Our Top Music Provider” posts !!!
PlayNetwork Celebrates Banner Year, Announces Key Milestones and Drivers to Company Success in FY2008
Strong growth in hospitality, retail sectors drives growth with significant increases in subscriber locations, recurring revenue
REDMOND, Wash.–(BUSINESS WIRE)–PlayNetwork, a global leader in providing signature media experiences for businesses, today announced significant strides in strengthening its position as the sought after provider for a full suite of branded media experiences. The company’s success was fueled primarily by an increase in the acquisition of several key national accounts, substantial growth in subscriber locations, and significant top-line revenue growth.
A number of new national accounts in the hospitality and retail sectors led the way to significant growth in subscriber locations for PlayNetwork’s industry leading Music, Messaging and Video Media Services. Subscriber counts jumped 68 percent for the fiscal year. Recurring revenue, recorded a 31 percent increase, driven in large-part by contract renewals and/or expansions from customers such as Starbucks, Chili’s Grill & Bar, The Timberland Company, Rubio’s Restaurants, Inc., Jockey International, Inc., dELiA*s, and lucy.
PlayNetwork has delivered a compound annual growth rate of more than 37 percent from 2003 to March 31, 2008. This type of consistent performance demonstrates PlayNetwork’s passion in remaining an innovative force in the market for its clients.
“Marketers are eager to partner with companies that possess the creativity, passion and innovation to help them drive their brands forward by creating memorable experiences for their consumers,” said Lon Troxel, executive chairman and CEO of PlayNetwork. “To celebrate our best year ever, and indeed an impressive year in the industry, shows that more brands are choosing to turn to PlayNetwork first. Our complete suite of signature media experiences makes us the easy choice.”
The company’s subscriber and revenue growth were supported by several key partnerships, including a strategic relationship with XM Satellite Radio, under which PlayNetwork will manage all commercial business sales and service on behalf of XM under the new “XM for Business” service. Partnerships with Crown Audio and C-nario, and being named by Cisco as one of only four North American companies to be a content partner for Cisco’s “Academy of Digital Signage” (ADS), continue to drive exposure for PlayNetwork in new industry markets and position the company for ongoing growth.
Established in 1996, Redmond, Washington-based PlayNetwork, Inc. is an integrated media services leader for worldwide business. PlayNetwork provides branded video (digital signage), audio (music and messaging), promotional media, quality audio/video systems, and professional services that deliver compelling experiences for retail, hospitality, health and fitness, retail banking and other businesses. The XM for Business service is now managed by PlayNetwork through a new strategic relationship with XM Satellite Radio. More information is available at www.xm4biz.com.