Raven Moon ASCAP Music Royalties Increase 300% with Projected Growth, Attributab
Mr Roger K. Olsson | 11.07.2007 17:35 | Analysis | Other Press | London | World
Wednesday, July 11, 2007
ORLANDO, Fla., Jul. 11, 2007 (Business Wire) -- Raven Moon Entertainment, Inc. (OTCBB: RAVI) announced increases in music royalties; ASCAP music publishing royalties have increased 300% with projected continued growth with Trinity Broadcast Network exposure believed to be the basis.
Royalties Up; Growth Projected
Since the Trinity Broadcasting and Smile of a Child television networks began airing the 'GINA D'S KIDS CLUB(R)' show worldwide in October of 2006, promoting Raven Moon music, Raven Moon Management expected royalty revenues from music publication of Raven Moon music to increase. Raven Moon collects music publishing royalties through 2221 Music which has been a member of ASCAP since 1976 and is grandfathered in. ASCAP pays royalties it collects from radio and television stations and networks on a regular quarterly basis. Once the royalties are received by 2221 Music they are transferred to Raven Moon on a periodic basis.
'The amount of $2,400 received last week for television performances from the last quarter of 2006 may be considered marginal, but it is significant in reflecting a 300% increase from previous payments received from the first three quarters of 2006 and we expect these payments to continue to grow, ' stated Joey DiFrancesco CEO of Raven Moon.
'We believe this first dribble of revenues is the first crack in the revenue dam that we have been waiting for since we began the development stage of the 'GINA D'S KIDS CLUB' programs five years ago. As you know we had to produce and complete 44 television programs before we could be televised on a network and obtain a distributor to put our television DVD product into retail stores. Recently we announced we signed with STL/FaithWorks Distribution a major Christian and secular worldwide distributor to sell our DVD's and Music CD's in over 1150+ retail outlets beginning this summer with a kick-off at the International Christian Retail's Show in Atlanta, July 10th. and 11th. We also announced our entire library of 44 DVD's and Music CD's have been awarded the DOVE FOUNDATION'S FAMILY SEAL OF APPROVAL. This too can help widen the crack in the revenue dam, ' stated DiFrancesco
About ASCAP
ASCAP is a membership association of more than 295,000 U.S. composers, songwriters, lyricists, and music publishers of every kind of music. Through agreements with affiliated international societies, ASCAP also represents hundreds of thousands of music creators worldwide. ASCAP is the only U.S. performing rights organization created and controlled by composers, songwriters and music publishers, with a Board of Directors elected by and from the membership. Since it was created in 1914, ASCAP has become home to the greatest names in American music, past and present -- from Duke Ellington to Dave Matthews, from George Gershwin to Stevie Wonder, from Leonard Bernstein to Beyonce, from Marc Anthony to Alan Jackson, from Henry Mancini to Howard Shore -- as well as many thousands of writers in the earlier stages of their careers. For more information about ASCAP go to www.ascap.com.
For more information on Raven Moon Entertainment,Inc. and Products visit www.ravenmoon.net or www.ginadskidsclub.com.
Safe Harbor Statement
This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual reports, offering memorandum, or prospectus. Specifications are subject to change without notice. Raven Moon Entertainment assumes no obligation to update any forward-looking statements.
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