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Gawk Inc. CEO Shareholder Update(May 19, 2014)
LOS ANGELES, CA -- (Marketwired) -- 05/19/14 -- Gawk Incorporated (OTCQB: GAWK)
As we continue to move forward with the transition to the new management team at Gawk, I wanted to take this opportunity to share my thoughts with the shareholders and investment community on what it has taken to get to today, and our exciting path moving forward.
First, I want to take a moment to thank all our shareholders for their continued support and patience. I'm aware it hasn't been easy for many of you since you became shareholders. As you may know, my business experience has primarily been in the digital, technology, telecommunications, and Internet sectors. Restructurings are never easy or quick, and especially in the case of Gawk, this restructuring has and will be a complete overhaul from top to bottom.
Although almost complete, it will take more effort in order to create a solid foundation to build from. Our time as a "startup" company is coming to an end as we begin to move forward into the revenue producing business model, while being 100% focused on the future. That said, we've accomplished a lot in a very short amount of time.
Some of you may be asking "What exactly is Gawk and where is it heading?"
Let's start with the definition of the word:
"Gawk" verb (used without subject)
1. to stare; gape: "The onlookers gawked at arriving celebrities."
Let's move on to our vision for Gawk and where the company is heading. The entertainment industry is among the last to embrace the digital revolution. Decades have passed and the industry is still depending on a closed distribution system, providing a "controlled strategy" to recoup the millions (and now billions) of dollars spent each year creating new content. The success of the closed distribution system depends on denying consumers the freedom to consume this content, as technological advancements continued through our history. Fortunately, for the world, the future is Gawk.
Netflix, iTunes and YouTube are the largest online media platforms today. These platforms fill specific needs for consumers but are still falling short of providing exactly what consumers want, when they want it, and at a price they want. Their existing business models and platforms were created to keep up with the consumer's demand for online streaming content due to the advent of high-speed Internet connectivity in homes across the globe. Gawk will look to emulate and incorporate the best of these industry leaders into one seamless platform.
Gawk will provide the flexibility that independent filmmakers need to compete in the distribution market. Gawk is the innovation that major studios need to cater to the demands of the consumer, providing new methods to capitalize on their investment by being able to release its content on 2 billion screens and devices worldwide, instead of 5,000, with a concomitant social network, allowing independent filmmakers, the major studios, and the consumers to thrive together in a way that has never been done before. Where there is a need, there is opportunity, and it is fulfilled by gawk.
New management at Gawk sees the opportunity of the digital distribution sector. In order to properly take advantage of the possibilities that exist, we are adapting our business model to be rooted in executable business goals, poised for growth and speed to market. A new strategy that focuses on proven management, state of the art technology, supported by a relentless focus on top-line growth, utilizing and leveraging our technology and personnel to maximize shareholder benefit.
The Gawk model focuses on leveraging three key trends:
- The massive shift away from traditional TV viewing and into multi-platform (smartphones, tablets, gaming consoles, smart TV's and PC's) video consumption for younger consumers, generally under 35 years of age.
- The fast-growing adoption of social media monetization of content on mobile devices and pc platforms (through advertising, sponsorship and various payment and viewing options -- PPV, Video on Demand, etc.)
- The expanding need for independent content creators, branded media companies and sports properties to leverage their intellectual properties and increase revenue through new video streaming distribution and monetization models with trusted third party partners.
We are building Gawk to address these three opportunities, aligning our staffing, focus, capital resources and technology to attack the new digital video and social monetization marketplace in these key segment trends.
To efficiently execute that vision, we are utilizing an internal "shared services" model for maximum cost efficiency. Leveraging the same technology, streaming infrastructure and staffing to execute across all business missions allows us to keep corporate G&A spending and overhead to a minimum.
It's taken a huge amount of collective hard work to get where we are today -- a transparent, compliant and structured company. While this process has been painful, it was necessary to correct the past. We have finally fully extracted Gawk from its past and created a solid plan for topline revenue and increasing shareholder value for the future.
Rest assured that every single decision your Management Team has taken and will in the future, no matter how large or small, has been reviewed and analyzed to execute on this plan and we intend to do our best to ensure that our shareholders will achieve long-term value. We have broadened the scope of the audit of the Company's financial statements to assure transparency, created and staffed a world class Board of Advisors that provide real value on the first day, and, re-fashioned our Board of Directors, which includes 2 independent members who are already helping the Company bring in business.
I am exceedingly proud of the accomplishments our Management team has achieved in such a short period of time. I can clearly see where the results of all our hard work and patience are paying off and it is very exciting to think about our collective future -- fully unencumbered by the past.
On a more personal note, it's starting to be fun and exciting to wake up and go to the office again. I'm excited to be working closely with our Management Team and Advisors to drive the Company forward quickly.
For many shareholders, the past few months have been very frustrating. Unfortunately, much was characterized by unforeseen challenges from the past and by unavoidable delays stemming from a history that we all inherited. I am happy to report that we are rapidly moving forward.
As we plan and head into the next part of the year, we've accomplished a great deal, but much is left to finish. We will be initiating a re-branding of Gawk, including aggressive Investor Relations and industry Public Relations efforts to increase awareness of our service offerings and gain market share. Additionally, I look forward to reporting in the very near future the completion of our audit.
Gawk is fast becoming a company we can all be very proud of, as we become the go-to resource for digital media services and global streaming ventures. We have an extremely well refined operational plan and there is a huge marketplace of companies looking for more efficient digital, streaming and monetization programs that we will be offering. I promise to be transparent and to report on our progress, good or bad. As we progress beyond our Annual Meeting, you can look forward to a regular monthly update as we move forward and grow this Company.
Scott Kettle, CEO and Chairman
About Gawk Incorporated
Gawk Incorporated is a world innovator of self-service global digital distribution. Designed to meet the needs of modern consumers, Gawk has the unique and defining capability to stream all forms of digital media, including but not limited to, movies, documentaries, TV shows, music videos, vlogs, digital books, digital shorts, social networking videos and video game entertainment. Gawk provides an innovative platform and interactive social network for artists to capitalize on their creativity through the Gawk self-service model of Post, Price and Promote. Gawk's multifaceted strategic approach generates ongoing and long term revenue opportunities through independent content publishing, creative entertainment viewing, product integration, sponsorship and advertising. For more information, please visit http://www.gawkinc.com
Forward-Looking Statements - This press release contains "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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Gawk Incorporated undertakes no obligation to update such statements.
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