For our customers to look at us as partners, not just a technology provider.
(Vocus) December 5, 2009
Consorteum Holdings, Inc. is pleased to announce the progress of its current North American projects.
MyGolf Rewards: In an industry with more than 30 million players over 15,000 courses, with annual revenues exceeding $85 Billion in North America alone, the MyGolf Rewards program has completed its pilot phase. Results from the 2009 season have confirmed it has the ability to drive incremental revenues and encourage players to engage in additional rounds of golf. The MyGolf Rewards program will enable the average course to drive incremental revenues of over $50,000 per season, per course, by attracting new customers while simultaneously establishing enhanced loyalty with existing customers. In this economic environment, golf courses are looking at new and innovative ways to maintain or broaden their customer base while increasing revenue opportunities.
In review of the North American pilot program results, it is anticipated that annual revenues to Consorteum Holdings will total over $20,000 per season / per participating golf course. Consorteum will further expand the program into international markets in 2010, and is currently working with overseas partners to that end. The company anticipates making an announcement on these initiatives shortly.
Mobile Check Cashing: Targeting an $80 billion per year check cashing industry, the initial pilot program for Mobile Check Cashing has been launched and is actively being marketed. The first customers are currently being set up and check cashing services are now scheduled to begin. Significant interest has been shown by other groups to promote the program and Consorteum is looking forward to additional expansion of the program in early 2010.
First Nations Financial Services: After a significant review of the First Nations initiative, which targets a market with over $16 Billion in annual transactions, Consorteum and FNFS has engaged with several key members of the community to advise on the marketing and business strategy prior to launch of this new program. This new direction will enable Consorteum to create a more focused and strategic relationship with First Nations’ members and provide financial services that best reflect the unique needs of the community. This initiative has been built to drive revenues both for Consorteum Holdings and FNFS, as well as support the local economies of the communities it will provide services to. Based on all the services to be provided, Consorteum believes annual transaction processing volumes of over $1.0 Billion a year are potentially attainable. Additional information regarding the launch of the program will be forthcoming within the next month.
Consorteum Financial Services: In a multi-billion dollar transaction processing industry, Consorteum’s Financial Services has been working diligently to advance its relationships in both the U.S. and Canada with major financial institutions. By doing so, Consorteum has been able to move into new areas of consulting in both the transactional processing industry and card-issuing arena, bringing additional revenue sources to the program. This new and important revenue stream for Consorteum will continue to build on value in the programs launched as well as enhance the services provided.
Moving forward, Consorteum will focus on adding new recurring revenue streams for transaction processing and card issuance activities, not just upfront fees and retainers. Consorteum is currently looking to expand services into several targeted overseas markets that are aggressively seeking out leading edge solutions to replace outdated legacy systems.
About Consorteum Holdings Inc.
Consorteum Holdings Inc. will build on its extensive expertise within the Payments and Transaction Industry in North America, Europe, and Internationally. By identifying new technologies and trends in the changing global marketplace, Consorteum Holdings Inc. aims to increase revenues in existing markets, enter new markets, and deliver unique products and services more effectively and efficiently. Each program and initiative launched is designed to drive additional transaction based, long-term revenues and increased shareholder value. Consorteum Holdings Inc. has built its reputation with one goal, “For our customers to look at us as partners, not just a technology provider.”
For more information, please visit: http://www.consorteum.com
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.