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Subaye, Inc. Announces Cloud Computing Customers Increased 37% in August 2010; Paying Core Online ViSubaye, Inc. a leading outsourced marketing services provider in China engaged in online video advertising and cloud computing business solutions, announced today that its Cloud Computing customers grew to 13,353 in August, an increase of 37% since July 31, 2010. The Company also announced that it has 38,881 paying online video advertising customers as of August 31st, 2010, an increase of 140% year-to-date for its fiscal year ending September 30, 2010, and an increase of 13% since the Company's second fiscal quarter ended June 30, 2010. The current level of 38,881 paying members generates a monthly run rate of approximately $4.6 million in revenues per month, or $54.7 million annually. Subaye saw new online video paying member growth from both its largest province of Guangdong and from its new markets. In the first two months of its fiscal fourth quarter ending September 30, 2010, the Company added 703 and 3,796 new subscribers in Guangdong and in new markets, respectively. The percentage of total subscribers from new markets increased from approximately 23% in March 2010 to 41% in August. As Subaye continues to add more agents and productivity for agents improves, Management expects subscriber growth to remain strong. Subaye had 1,023 sales agents at the end of July, up from approximately 600 at the end of June. The Company remains on track to end of fiscal 2010 with approximately 1,500 sales agents. Number of Paying Subscribers Growth Rate 9/30/09 3/31/09 6/30/10 8/31/10 6/30-8/31 FY 2010 Regions: To Date Guangdong 16,211 16,998 22,417 23,120 3 % +43 % Hong Kong -- 1,361 1,361 1,437 6 % -- Taiwan -- 739 739 818 11 % -- Hunan -- 2,921 2,921 3,376 16 % -- Hainan -- -- 3,133 2,873 -8 % -- Hubei -- -- 3,811 3,892 2 % -- Anhui -- -- -- 571 -- -- Chongqing -- -- -- 511 -- -- Fujian -- -- -- 476 -- -- Jiangxi -- -- -- 712 -- -- Zhejiang -- -- -- 1,095 -- -- Total 16,211 22,019 34,382 38,881 13 % +140 % Cloud Computing (CC) Since Subaye started promoting its Cloud Computing services in March 2010, it has dramatically increased the number of paying subscribers to 13,353, an increase of 8,153, or 157%. Growth has accelerated month-over-month in every month since March, increasing by 4% in April, 15% in May, 18% in June, 32% in July and 37% in August. The attractive value proposition, superior functionality, and improved cross-sell of its CC services to existing online video members are the primary drivers of the acceleration in subscriber growth. Penetration has increased from 0% of Subaye's 86,311 VIDEO SHOWCASE member base in March to 12% in August. The 13,353 paying customers at August 31, 2010 generate approximately $1.3 million of revenues per month, or $16.0 million per year. "We are beginning to see more of our customers signing up for both of our core online platforms - VIDEO SHOWCASE and CLOUD COMPUTING," stated Mr. Zhiguang Cai, Chief Executive Officer of Subaye, Inc. "The interest our VIDEO SHOWCASE customers have in our CC services is a strong indication of the value we provide our customers. With attractive returns on our investment, we will continue to add more sales agents in new and existing provinces in order to capture a greater share of these growing opportunities." |
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