SANTA MONICA, Calif.,
Jan. 27, 2014 /PRNewswire/ --
Rightscorp, Inc. (OTCQB: RIHT), a leading provider of monetization
services for artists and holders of copyrighted Intellectual
Property (IP), reported revenues for its fourth quarter ended
December 31, 2013. The Company
announced Q4 revenues of $155,381 up
195% from $52,739 in the same period
last year. Revenues for the full year 2013 were $324,000, up 239% from $95,565 for the full year 2012. The growth in
revenues was driven by the Company's ability to increase the amount
of copyrights in its automated system by 135% from approximately
17,000 in the fourth quarter 2012 to more than 40,000 in the fourth
quarter of 2013.
Robert Steele, COO stated, "The
trending in our numbers is very encouraging. Since receiving
additional equity from our investors, we have been able to further
automate our process for ingesting copyrights. We currently have
over 1 million copyrights under contract and we are loading
thousands more every month. Our operational model is proving its
ability to scale into a large and successful business as we help
collect on behalf of artists and copyright holders. The increase of
our ingestion rate will be our primary focus as it is a direct
revenue driver in hand for 2014. We can expect our $750,000 annual revenue run rate to accelerate as
we are at 4% of our copyrights under contracts ingested.
Additionally, increases in the number of ISP's forwarding our
notices should further drive our growth rate and increase
revenues.
"The metrics are clear. As we continue to ramp up our copyright
inventory, we expect our revenues to increase proportionally. To
date, we have closed on more than 50,000 cases of copyright
infringements, and we have paid the owners of those copyrights for
their work. We are currently in talks with the owners of millions
of additional copyrights. Rightscorp is pleased to offer a
technology and an operational system that enables the creators and
owners of intellectual property to be rightfully compensated for
the use of their assets."
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a
leading provider of monetization services for artists and holders
of copyrighted Intellectual Property (IP). The Company's patent
pending digital loss prevention technology focuses on the
infringement of digital content such as music, movies, software,
and games and ensures that owners and creators are rightfully paid
for their IP. Rightscorp implements existing laws to solve
copyright infringements by collecting payments from illegal file
sharing activities via notifications sent through Internet Service
Providers (ISPs). The Company's technology identifies
copyright infringers, who are offered a reasonable settlement
option when compared to the legal liability defined in the Digital
Millennium Copyrights Act (DMCA). Based on the fact that 24% of all
Internet traffic is used to distribute copyrighted content without
permission or compensation to the creators, Rightscorp is pursuing
an estimated $2.3 billion opportunity and has monetized major media
titles through relationships with industry leaders.
http://www.rightscorpinc.com/
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This press release may include
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limitation, statements regarding the Company's anticipated
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For further investor and media information
contact:
Andrew Haag
Managing Partner
IRTH Communications
rightscorp@irthcommunications.com
1-866-976-4784
SOURCE Rightscorp, Inc.