SPYR, Inc. Enters Multi-Billion Dollar Digital Marketing Industry as Company Continues Transformation
Marketwired
NEW YORK, NY--(Marketwired - March 16, 2015) - SPYR, Inc. (SPYR), formerly Eat at Joe's, Ltd., has quietly been undergoing a transformation in 2015, so much so, that the company has acquired its way into the lucrative digital publishing and advertising industry. Since January, SPYR, Inc. has seemingly come alive with a number of big announcements that include the recent name change, and the naming of a new CEO, who immediately made it clear that the company was heading in a new direction. In late February, that new direction was unveiled to shareholders in the form of the acquisition of Franklin Networks, Inc.
These eight websites cater to a number of different audiences. By building a diverse portfolio of branded websites with engaging, high-quality content that spans a spectrum of topics and industries from travel to food to fitness, the company is able to capture a wider consumer base for advertisers. And, when advertisers see that vast consumer base, they see dollar signs.
As media giant Condé Nast has proven with brands like GQ, Vogue, Vanity Fair and Glamour, that vast consumer base is a prime target for advertisers looking to introduce their products through well-placed advertisements right where readers are spending time.
Digital advertisers promote products and brands over electronic media using online sites with brand recognition and inviting content. For SPYR, this will mean monetizing its eight online brands and others it may acquire using the relationships that Franklin Networks has established with advertising partners. Consumers will access SPYR's websites and the advertising of its partners using personal computers, laptops, smartphones and tablets, which is very appealing to advertisers. This appeal should make this new direction for SPYR a big win for its investors.
Why is online advertising so popular? Well, the idea is to speak to consumers where they will hear you and, as eMarketer showed in a 2014 study, U.S. adults are spending more time each day using digital devices (computers, mobile phones, tablets) than they are watching television, listening to the radio or reading newspapers and magazines. According to eMarketer, as the percentages of time spent per day on digital devices grows, uses of other forms of media rapidly declines.
The dramatic shift away from television, radio and print media and toward digital media, explains why big companies are changing their marketing strategies and increasing their digital advertising spending. Peter Minnium stated in an article titled 8 Reasons Why Digital Advertising Works for Brands that consumer goods giants like Proctor & Gamble and Unilever have increased their spending on digital advertising. Proctor & Gamble spends a third of its U.S. advertising budget on digital media, while Unilever increased its spending on digital advertising by 40 percent starting in 2013 with approximately 35 percent of its U.S. advertising budget directed toward digital advertising.
These trends explain why internet ad revenues have passed those of broadcast television. In a report published by the Interactive Advertising Bureau and conducted by PricewaterhouseCoopers, it was found that online ad sales continue to register double-digit percentage growth year over year. In 2013, online ad sales rose 17 percent to $42.8 billion up from $26 billion in 2010 and only $9.6 billion in 2004.
eMarketer reports that in the U.S., the total spent on digital advertising alone will rise to more than $52 billion in 2015 and will climb to more than $61 billion by 2017. It is numbers like this that explain why the transition by SPYR into the digital publishing space makes a whole lot of sense.
With this exciting new business model, investors should appreciate the company's new name, which better reflects the new direction and business of the company, and should allow SPYR to compete in a space where it appears to have made a strong initial push.
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Stock Market Media Group is an exclusive publisher for news, updates, alerts and information on SPYR, Inc. ["SPYR"]. Our publications about SPYR are based solely upon SPYR's authorized press releases, and SPYR's legal disclosures made in SPYR's filings with the U.S. Securities and Exchange Commission. Before we publish any SPYR related content, our articles undergo compliance reviews and factual verifications, including written confirmation of the facts we publish from SPYR, and separately from SPYR's Legal Counsel for Securities and Regulatory compliance, Mailander Law Office, Inc.
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Section 17(b) of the 1933 Securities and Exchange Act requires publishers who distribute information about publicly traded securities for compensation, to disclose who paid them, the amount, and the type of payment. In order to be in full compliance with the Securities Act of 1933, Section 17(b), we are disclosing that we entered into a contract with SPYR for one year on February 1, 2015. We agreed to publish articles, news, updates, alerts and information about SPYR, subject to SPYR's written confirmation of factual content, and the separate confirmation of factual content by SPYR's Legal Counsel for Securities and Regulatory Compliance. In exchange for our services, SPYR agreed to compensate us with a monthly fee of $5,000.00. Additionally, SPYR agreed to issue to us 250,000 shares of SPYR's Restricted Common Stock. Our rights to sell any of this Restricted Common Stock are subject to prior compliance with all U.S. Securities Laws, including but not limited to Rule 144. Further, our sale of any of the Restricted Common Stock is subject to a volume restriction providing that we may only sell 5,000 shares daily for every 250,000 shares of daily trading volume.
