Welcome!

Ruby-On-Rails Authors: Liz McMillan, Pat Romanski, Elizabeth White, Hovhannes Avoyan, Yeshim Deniz

News Feed Item

China Mobile and UMeWorld Bring UMFun to the World’s Largest K-12 Educational Platform

UMeWorld Limited (OTCQB: UMEWF) is very pleased to announce that China Mobile will market UMFun to 9 million paid subscribers on its Kindergarten – Grade 12 educational platform in the Guangdong Province beginning on Monday, July 21, 2014. This K-12 educational platform services 90% of the schools in the Guangdong Province and is widely used by teachers, parents and schools. China Mobile generated US$90 million in sales from the K-12 educational platform in the Guangdong Province in 2012, and approximately US$112 million from the same province in 2013 and is projected to generate US$132 million in 2014.

Established in 2003, China Mobile’s K-12 educational platform is the world’s largest subscription-based communication platform used mainly by teachers, parents and schools throughout many provinces in China. Currently, there are over 40 million paid subscribers using this K-12 educational platform on China Mobile’s network, which generated over US$800 million in sales, with the majority of sales directly related to various value-added services in 2013.

UMFun is a value-added service that will be co-branded with China Mobile under a monthly subscription revenue model along with an initial three month free trial. China Mobile will share UMFun revenue generated by its K-12 educational platform with UMeWorld and all expenses related to distribution and marketing will be borne by China Mobile. Furthermore, a successful launch in the Guangdong Province will accelerate planned expansion to service clients in other provinces, according to China Mobile.

Michael Lee, President and CEO commented, “It is a privilege to be offered the opportunity of becoming one of China Mobile’s few strategic partners. This agreement accelerates our market penetration and will provide a substantial revenue stream to the company in 2015 and beyond. Assuming a 20% conversion rate (as estimated by China Mobile), the company would be expected to generate 2 million paid subscribers in Guangdong Province alone, which translates into US$38.40 million gross sales (before profit sharing with China Mobile) in 2015. Our goal is to capture 10 million paid China Mobile subscribers throughout their system and to generate US$192 million gross sales (before profit sharing with China Mobile) in 2016. We intend on leveraging this China Mobile agreement with other carriers and to expand into other provinces not covered by China Mobile.”

The K-12 education system in China is the largest in the world, comprising 230 million students. UMeWorld is on track to becoming a leading educational service provider in China. UMeWorld is also committed to becoming China’s largest provider and repository of e-portfolios for students.

About China Mobile

China Mobile is the world’s largest mobile service provider by network scale and subscriber base, serving over 767 million customers. China Mobile is listed on both the New York and Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index in Hong Kong.

About UMeWorld

UMeWorld's mission is to facilitate the interaction between people -- "You" and "Me," -- through its digital platforms. Existing to date are, UMeLook.com, an online video platform focused on bringing foreign video content to China and UMFun.com, the only cloud-based, patent-pending, adaptive learning and assessment platform in China that can intelligently analyze and adapt to a student’s academic performance, along with supplying the delivery of proprietary educational items based on individual learning needs.

Forward Looking Statement

This release may contain projections and other forward-looking statements that involve risks and uncertainties. Forward-looking statements are projections reflecting management's judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “confident” and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. Future performance cannot be assured. Readers are referred to the documents filed by UMeWorld with the Securities and Exchange Commission (SEC), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements.

Potential risks and uncertainties include, but are not limited to: whether our revenue guidance for UMFun can be achieved, whether a digital strategy can be achieved and the risks that there are uncertainties and matters beyond the control of management, and other risks outlined in the Company’s filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Ruby Hui
UMeWorld Limited
E-mail: [email protected]
Telephone: 852-2824-8716

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists examined how DevOps helps to meet the de...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
Rodrigo Coutinho is part of OutSystems' founders' team and currently the Head of Product Design. He provides a cross-functional role where he supports Product Management in defining the positioning and direction of the Agile Platform, while at the same time promoting model-based development and new techniques to deliver applications in the cloud.
@CloudEXPO and @ExpoDX, two of the most influential technology events in the world, have hosted hundreds of sponsors and exhibitors since our launch 10 years ago. @CloudEXPO and @ExpoDX New York and Silicon Valley provide a full year of face-to-face marketing opportunities for your company. Each sponsorship and exhibit package comes with pre and post-show marketing programs. By sponsoring and exhibiting in New York and Silicon Valley, you reach a full complement of decision makers and buyers in ...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
LogRocket helps product teams develop better experiences for users by recording videos of user sessions with logs and network data. It identifies UX problems and reveals the root cause of every bug. LogRocket presents impactful errors on a website, and how to reproduce it. With LogRocket, users can replay problems.