SYDNEY, AUSTRALIA — (Marketwired) — 11/23/15 —
MOKO Social Media (NASDAQ: MOKO) (ASX: MKB) today announces the release its new app, REC*IT FITNESS, in a soft launch to 25 U.S. colleges, with a wider rollout planned for the spring semester in January 2016. REC*IT FITNESS extends the utility and features of MOKO–s flagship app, REC*IT, from intramural and sport activities to non-sport and group fitness activities such as Yoga, Spin-Cycle, Pilates, etc. providing a tool for U.S. college students to discover, sign up for, and stay on top of the latest fitness programming available only on their campus through the mobile app.
REC*IT FITNESS is expected to skew towards female users as many on-campus fitness activities are female targeted. For example, the 2014 U.S. Yoga Journal Conference reported that approximately 82% of Yoga participants are female. These types of activities will allow REC*IT FITNESS to capture female students alongside MOKO–s flagship REC*IT app, which is skewed towards male users, and ultimately enable MOKO to diversify its existing student user gender base. According to the National Center for Education Statistics, there are expected to be 20.2 million students attending U.S. colleges and universities in fall 2015, of which 56.9% are expected to be female.
Adding the REC*IT FITNESS app gives MOKO an on-campus app that skews towards the female demographic. This coupled with MOKO–s core REC*IT app, which captures the intramural participants which skew 74% male,(1) provides MOKO with apps that cover virtually 100% of the potential student population. The college fitness market also presents MOKO with a huge opportunity, with 75% of students regularly using campus recreation centers, and 42.1% of those students participating in instructor-led group fitness classes, according to a NIRSA report. This represents an addressable market of approximately 6.4 million U.S. college students.(2)
REC*IT FITNESS has been launched in response to the immense growth and popularity of high-quality fitness programming at partner colleges, and there are no major competitors with a similar mobile app designed specifically for managing and scheduling group fitness activities on college campuses.
MOKO–s flagship app, REC*IT, that is now available to more than 1,100 U.S. colleges through an exclusive agreement with IMLeagues, has allowed MOKO to develop relationships with on-campus rec directors and rec departments at colleges across the U.S. Utilizing these relationships, REC*IT FITNESS will adopt a similar marketing strategy to that of REC*IT, leveraging on-campus Rec Director relationships to promote brand and product awareness. MOKO aims to garner insight from key strategic fitness administrators during the soft launch of REC*IT FITNESS and aims to apply the insights and lessons learned, prior to the full official launch in early 2016.
The release of REC*IT FITNESS has significantly extended MOKO–s college student reach into the wider college activity scene, to now encompass intramural sports, recreation and general fitness and social activities.
MOKO Social Media is at the forefront of the next generation in social media, providing innovative products and content to enable communities to engage and interact. MOKO provides tailored content for high value, niche user groups including students, political supporters and active lifestyle participants: communities that share common interests and need to engage regularly and efficiently. Within its student space, MOKO is a mobile leading U.S. college intramural and recreational sports platform. Agreements with the largest college and high school sports data providers in the U.S. grant MOKO exclusive access to provide its award-winning app REC*IT, and BigTeams powered by REC*IT, to over 1,100 U.S. colleges, representing approximately 50% of the U.S. college population, and to over 4,400 U.S. high schools respectively.
MOKO aims to capture its target audiences by becoming their destination of choice for information and interaction. It does this by creating highly relevant and exclusive content, and by providing the platforms that enable the communities to consume and share the content seamlessly across devices. This integrated approach gives MOKO unique and exclusive exposure to markets that are highly desired by advertisers and that can be leveraged for growth and revenue through advertising, sponsorship, social network distribution and other monetization of the platforms.
This announcement is for informational purposes only and is neither an offer to sell nor an offer to buy any securities, or a recommendation as to whether investors should buy or sell.
This press release contains information that may constitute forward-looking statements and uses forward-looking terminology such as “anticipate” “propose” “expect” and “will,” negatives of such terms or other similar statements. You should not place undue reliance on any forward-looking statement due to its inherent risk and uncertainties, both general and specific. Although we believe the assumptions on which the forward-looking statements are based are reasonable and within the bounds of our knowledge of our business and operations as of the date hereof, any or all of those assumptions could prove to be inaccurate. Risk factors that could contribute to such differences include our ability to prepare required documents in connection with the proposed offering, the timing of regulatory review, performance of our shares on the Nasdaq Global Market, and the performance of the United States and global capital markets and companies in our sector, as well as factors relating to the performance of our business, including intense competition we face; failure to innovate and provide products and services that are useful to users; our ongoing need for capital for investment in new and existing business strategies and new products, services and technologies, including through acquisitions; our dependence on advertising revenues; the potential for declines in our revenue growth rate and downward pressure on our operating margin in the future; increased regulatory scrutiny that may negatively impact our business; legal proceedings that may result in adverse outcomes; failure to maintain and enhance our brand; uncertainty as to our ability to protect and enforce our intellectual property rights; and uncertainty as to our ability to attract and retain qualified executives and personnel. The forward-looking information provided herein represents the Company–s estimates as of the date of the press release, and subsequent events and developments may cause the Company–s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company–s estimates of its future intentions as of any date subsequent to the date of this press release. Our plans may differ materially from information contained in the forward-looking statements as a result of these risk factors or others, as well as changes in plans from our board of directors and management.
(1) Deaner, Robert O.; Geary, David C.; Puts, David A.; Ham, Sandra A.; Kruger, Judy; Fles, Elizabeth; Winegard, Bo; and Grandis, Terry, “A Sex Difference in the Predisposition for Physical Competition: Males Play Sports Much More than Females Even in the Contemporary U.S.” (2012). Peer Reviewed Articles. Paper 1.
(2) Based on expected fall enrollment of 20.2 million (National Center for Educations Statistics), 75% of which regularly use campus recreation centers and 42.1% of those students participating in instructor-led group fitness classes (NIRSA) ((20.2M*0.75)*0.421)
Jed Latkin
917-957-4987
You must be logged in to post a comment Login