Lateral reaches new subscriber benchmark

Lateral Corporation Market Update:

Lateral reaches new subscriber benchmark
Subscriptions tripled since July

Auckland, New Zealand, 29th September 2016.

Lateral Corporation is pleased to announce an update of subscriber numbers. Current subscriptions reached 3,000 yesterday, up from 2,000 on 9th September.

Roger Grice, CEO of Lateral Corporation, reports “Our objective is 4,500 subscribers before February next year. Our current growth rate is more than double our expectations and we will reach break-even earlier than previously announced”.

“Lateral sells innovative entertainment products such as OZChat in association with marketing affiliates. Lateral’s platform features a unique on-line customer acquisition and billing process.

This was recently demonstrated to the on-line marketing industry at a major event in New York.

Agreements with several global marketing partners were achieved resulting in a strong flow of new subscribers through these channels.”

Roger Grice also comments, “Our current Average Revenue Per User in the Australian market is NZD22.50 per month. We expect to exceed this as we open up activity in the UK market in October.”

Upcoming Share Purchase Plan

Lateral Corporation’s directors have announced their intention to offer current shareholders the opportunity to participate in the growth of the company through a Share Purchase Plan. The company expects that proceeds from the Share Purchase Plan will fund the company into positive earnings. This will allow Lateral to market more aggressively in Australia and the UK.

About Lateral Corporation

Lateral is a pioneer in mobile payments, mobile marketing and advertising, and distribution of userpays mobile digital products and services. Lateral’s platform generates revenue for media companies and mobile phone companies.

Lateral is a specialist in Direct Carrier Billing where products and services are billed directly to the customer’s mobile phone account, with a single click on a mobile web page.

Well known for providing the paid voting services for virtually all New Zealand’s interactive TV events such as NZ’s Got Talent, Lateral has also delivered high value revenue streams to all mobile carriers in New Zealand, Australia, Canada and USA.

About Direct Carrier Billing: DCB

Lateral is a pioneer in marketing goods and services using Direct Carrier Billing (DCB), where the products are charged directly to the customer’s phone account or pre-pay balance via a secure connection to the mobile phone companies billing system. Considered the most effective digital payment method available today, DCB is expected to grow rapidly to a market size of USD24 billion, by 2019 (Ovum Research). Lateral is one of a small number of companies working successfully with this challenging technology.

© Scoop Media