Ovation Music & Studios, Inc. 3rd Q Up Yr Over Yr
Ovation Music & Studios, Inc. 3rd Q Up Yr Over Yr
BOCA RATON, Florida, November 2, 2015 /PRNewswire/ --
Ovation Music & Studios, Inc. (OTC: OVMS) (the "Company") announces today that its
Gross Revenues and Profit for the 3nd quarter and nine month 2015 stub period are up over
the previous year.
Ovation Music & Studios, Inc. http://ovationmusicstudios.com/index.php, Facebook
page - https://www.facebook.com/Ovationmusicstudios, reports that its 3rd quarter
2015 Gross Revenue is up 3.8% and Gross Profit is up 14.1% over the same 2014 period and
Gross Revenue is up 6.8% and Gross profit up 15.4% for the nine months ending September 30,
2015 from the comparable nine month period in 2014. The Company's net income was off in
the 3rd quarter and nine months ending September 30 2015 due to expansion costs that
include management training, construction for the new location and marketing costs.
"We've streamlined our business operations and amplified our marketing approach as we
prepare for expansion, starting in Gallatin, TN," stated CEO, Keith De Tone.
Ovation Music & Studios is working to expand its music education and live performance
business model into new markets through possible franchises and licenses.
With its plan to open additional stores in territories around the South Florida and
Nashville, Tennessee markets, the Company's current build out of its Gallatin, TN location,
just outside of Nashville, TN, is its first step towards expansion. Nashville's Music Row
is home to hundreds of businesses related to the country music
[https://en.wikipedia.org/wiki/Country_music ], gospel music
[https://en.wikipedia.org/wiki/Gospel_music ], rock and roll, jazz as well as contemporary
Christian music [https://en.wikipedia.org/wiki/Contemporary_Christian_music ] industries.
Music Row is the heart of Nashville's entertainment industry. For more information on
Gallatin TN, see,
http://tennesseecentral.org/regional_data/regional_profile/sumner_county.
Ovation has developed its marketing plan that includes using TV ads in target markets
on specific networks. The marketing plan has been devised to attract a demographic that
includes beginning musicians in a school age audience of 8-15, advanced players in the 16
and up age range, as well as more seasoned players to play in the advanced Rock Shop(TM)
and Jazz Jam(TM) ensembles. All Ovation students and musicians are able to take part in
the Rock Shop(TM) and Jazz Jam(TM) programs.
A comprehensive study of Nashville's music and entertainment industry shows a $10
billion annual economic impact on the Nashville region. The Nashville area has more
music industry jobs than any other U.S. city in relation to population and total
employment, even more than New York or Los Angeles. The music industry helps create and
sustain more than 56,000 jobs in the Nashville area, supporting more than $3.2 billion of
labor income annually. See, Music Council's New Report Says Industry Jobs Clustered in
Nashville at Higher Rate Than in NYC or LA,
http://www.nashville.gov/Mayors-Office/Priorities/Economic-Development/Programs-and-Services/Music-City-Music-Council.aspx
.
About Ovation Music & Studios, Inc.
Ovation Music & Studios, Inc. is a music education company that provides individual
and group lessons, rehearsal studios, professional recording studios, and live
performances with its Rock Shop(TM) and Jazz Jam(TM) ensembles. Ovation Music & Studios is
developed for students of all ages. Their unique method provides professional musicians
and teachers in one-to-one voice and instrument lessons. When the students have developed
skill in the instrument as well as in music theory and ear training they are combined into
rock bands and/or jazz ensembles which perform in public venues.
Forward-Looking Statements
This release may contain statements that are "forward-looking statements".
Forward-looking statements include, without limitation, any statement that may predict,
forecast, indicate, or imply future results, performance or achievements, and may contain
the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning",
"expect", "believe", "will likely", "should", "could", "would", "may" or words or
expressions of similar meaning. These statements are based on current estimates and
projections about the Company's business, which are derived in part on assumptions of its
management, and are not guarantees of future performance, as such performance is difficult
to predict. Actual outcomes and results may differ materially from what is expressed or
forecasted in forward-looking statements due to numerous factors. Such factors include,
but are not limited to, the Company's limited operating history, ability to execute
effectively its business plan, economic and political conditions, changes in consumer
behavior and the introduction of competing products having technological and/or other
advantage, the Company's, the limited financial resources, and conditions of equity
markets. Actual results may differ materially from the results predicted and reported
results should not be considered as an indication of future performance. No information
in this press release should be construed as any indication whatsoever of the Company's
future revenues or results of operation.
Ovation Music & Studios, Inc.
Contact Investor Relations at: 1-877-658-0376
Ovation Music & Studios, Inc.
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