OutdoorPartner Media announces 2007 contracts worth over US$2.5 million
TORONTO, February 21 - OutdoorPartner Media Corporation ("OutdoorPartner" or the "Company") (TSXV: OPX) is pleased to announce that it has secured written contracts representing fiscal 2007 revenue in excess of US$2.5 million.
"OutdoorPartner continues to build upon the positive momentum created in the second half of 2006," stated Mark Brodkin, Chief Executive Officer of OutdoorPartner. "We're less than two months into 2007 and the Company has already contracted revenue in excess of US$2.5 million. OutdoorPartner has attracted a number of Fortune 500 advertisers from a diverse group of industries including telecommunications, financial services, consumer packaged goods, the military and beverages."
As a result of current revenue under contract, management expects revenue of approximately US$1.0 million in the 1st quarter of 2007, which represents growth of 176% over pro forma revenue from the 1st quarter of 2006 (pro forma revenue is defined as consolidated OutdoorPartner and Prime Point revenue, assuming the acquisition of Prime Point occurred January 1st, 2006).
Out-of-home advertising is the fastest growing advertising medium in the U.S., next to online advertising. According to a recent report published by Veronis Suhler Stevenson, OutdoorPartner's segment, the alternative out-of-home segment, is expected to grow at over 28% per year through 2010.
About OutdoorPartner:
OutdoorPartner is a market leader in the emergent alternative out-of-home media segment. The Company operates two out-of-home media networks: a PartnerBin network and a payphone kiosk advertising network. PartnerBins - litter/recycling receptacles that facilitate advertising - are currently located in nine U.S. communities, including: New York City, St. Louis and Baltimore. OutdoorPartner's payphone kiosk advertising division, Prime Point Media, offers highly-targeted advertising plus PrimeCasting - a Bluetooth broadcast solution - on a network of over 700,000 payphone kiosks located in all of the top 50 designated market areas. More information may be found by visiting www.outdoorpartner.com or www.primepointmedia.com.
This news release contains forward-looking statements regarding, among other things, OutdoorPartner's beliefs, plans, objectives, strategies, estimates, intentions and expectations. Such statements are based on a number of assumptions which may prove to be incorrect, involve certain risks and uncertainties that are difficult to predict and, accordingly, are not guarantees of future performance. The future results of the Company or developments may differ materially from those expressed in the forward-looking statements contained in this news release, due to, among other factors, OutdoorPartner's lack of operating profits, its dependence on key personnel, general economic conditions and other external events that may impact on customers' advertising spending, competition from other out-of-home advertisers and other media and government regulation seeking to limit or restrict OutdoorPartner's activities. More detailed information about these and other factors is included in OutdoorPartner's 2005 Annual Information Form and other documents published or filed by, or on behalf of, OutdoorPartner from time to time with the Canadian securities regulatory authorities. Other than as required by law, OutdoorPartner undertakes no obligation to publicly update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise.
For further information: Mark Brodkin, CEO, OutdoorPartner Media Corporation, 296 Richmond Street West, Suite 305, Toronto, Ontario M5V 1X2, Canada, T: (416) 602-1602, F: (416) 352-5070, www.outdoorpartner.com