UMeWorld Reaches Major Milestone
Hong Kong (FSCwire) - UMeWorld Limited (OTCQB: UMEWF) announced today that it has signed a revenue sharing agreement with China Mobile Guizhou Branch for the commecial use of UMFun by China Mobile in Guizhou Province.
Under the agreement, China Mobile Guizhou Branch will charge its users a monthly fee for the use of UMFun. Previously, UMFun was made available free of charge to China Mobile’s users in the Guizhou Province. UMFun is the only value-added K-12 learning and assessment product selected by China Mobile Guizhou Branch for commercial use and as such, becomes the only subscription-based, value-added K-12 learning and assessment product available to China Mobile’s student and teacher users in Guizhou Province.
The agreement with China Mobile Guizhou Branch confirms the commercial progress of UMFun as a leading brand in the K-12 education market in China. UMFun is currently available to China Mobile’s subscription-based “AND! Education” platform in the Shanxi, Guangxi, Guizhou and Guangtung provinces, servicing over 16,000,000 paid subscribers. Established in 2003, China Mobile’s “AND! Education” K-12 subscription-based communication platform is the largest of its' kind in the world, used primarily by teachers, students, parents and schools through the provinces that China Mobile services. Currently, this platform has over 90,000,000 paid subscribers system-wide and generates over US$2.1 billion in sales annually.
“Today’s announcement is a major milestone for UMeWorld in that UMFun has met and exceeded China Mobile’s high product performance expectations. Further, this agreement with China Mobile Guizhou Branch establishes a commercial use template for UMFun to be emulated by other China Mobile Provincial Branches,” said Ruby Hui, Executive Vice-President of UMeWorld Limited. “Most importantly, the Company is beginning to generate revenue from our China Mobile users, a development which sets us far apart from our competition.”
The Company is in different stages of revenue sharing agreement negotiations with three other China Mobile branches and is expected to conclude such negotiation in Q1 of 2016.
UMeWorld has met and exceeded its target of 2,000,000 subscribers in 2015 and is on track to meet an anticipated subscriber base of 10,000,000 subscribers in 2016.
The kindergarten-to-grade-12 (K-12) educational system in China is the largest in the world, comprising approximately 200 million students. UMeWorld is on track to becoming a leading educational service provider in China.
About China Mobile
China Mobile is the world’s largest mobile services provider by network scale and subscriber base, serving over 823 million customers. China Mobile has recently launched a new commercial brand “AND!” which literally means connect, aimed at bringing the world’s cutting edge technology to Chinese customers in the 4G universe and reflecting the friendly, intimate, mutual trust and harmonious relationship that exists between China Mobility, its' customers and Chinese society.
About UMeWorld Limited
UMeWorld is an internet technology company with a focus on the education market in China. UMFun, the Company’s K-12 flagship product, is a cloud based, patent-pending, adaptive learning and assessment platform that can intelligently analyze and adapt to a student’s performance and personalizes the delivery of proprietary educational items in accordance with the student’s learning needs. UMFun’s off-school version is made available to Chinese K-12 students through China Mobile, the world’s largest mobile service provider by network scale and subscriber base, serving over 822,906,000 customers.
For more information, please contact:
EVP of Business & Corporate Development
Telephone: (86) 020-89237947
Released January 18, 2016