would like to highlight Agora Holdings, Inc.
). The company, together with its wholly-owned subsidiary, Geegle Media, is leading a diversified family entertainment and media enterprise through business segments which include: TV on Demand, interactive media, business products and consumer platforms. With its multi-dimensional approach, Geegle Media supports Agora Holdings' mission to deliver innovate and high-quality business solution products and to deliver video content from around the world.
In the company’s news,
Agora Holdings has turned its attention toward the development of a collection of online media platforms tailored to meet the demands of expansive global audiences. The company’s portfolio of in-development web platforms includes GeegleTV, Frame, 1000Salads, Realty TV and LobbyTV. Through the GeegleTV platform, Agora plans to co-produce high-quality original content and distribute it to millions of users worldwide. The company’s other platforms are intended for more specific applications. RealtyTV, for example, will be developed for use by real estate brokerages, while LobbyTV will be designed to suit the specific needs of business offices.
As more consumers turn away from traditional television providers in favor of on-demand solutions, Agora could be in a favorable position to claim a stake in a rapidly expanding market. According to a report by TechCrunch, as many as 8.2 percent of former pay TV subscribers ditched their cable or satellite service in 2014, while more than 45 percent of individuals reduced their cable or satellite TV service during the same time frame.
The result has been a period of rapid growth for leading video on demand providers such as Netflix (NASDAQ: NFLX), Amazon (NASDAQ: AMZN) and Hulu. According to data from Statista, the number of individuals subscribed to Netflix’s streaming services increased by more than 200 percent from 2011 to 2015, with the streaming giant reporting just over 69 million global subscribers in the third quarter of last year. Research firm MarketsandMarkets reaffirmed this market potential in a recent report, which indicated that the worldwide video on demand market is on pace to climb from $25.3 billion in 2014 to roughly $61.4 billion in 2019, achieving a compound annual growth rate in excess of 19 percent.
As Agora continues toward the release of its suite of online media platforms, this market performance will play a key role in the company’s efforts to promote rapid and sustainable financial growth. Look for the company to continue relying on the experience of its management team as it prepares to target an expansive global audience by airing sharable, original content on GeegleTV and related platforms in the months to come.
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This release may contain 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. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.