Apple on Wednesday launched a new in-app subscription service on its App Store for the iPhone and iPad. This is great news for Metatron/i-Mobilize since we have a lot of popular content that lends itself well to the subscription based model and we expect our first subscription based apps to be released next month. Management has had a lot of experience with the recurring billing model and is confident this new type of app will add a significant and sustainable revenue stream that will build rapidly over time.

The Company believes eventually this new revenue channel will surpass our conventional paid app sales and even advertising within free apps. There is nothing better than recurring auto-billing income, you only have to make the sale once and internal testing found the average drop off rate is only 10% and average amount length of subscription is six months. We believe some of our high profile clients will generate even better recurring revenue statistics.

I-mobilize is in the final stages of testing its new in-house multi-platform app store, we expect to begin taking sales next month and will announce when it goes live.

Although we expected to release another PR about our new distribution partner by today, it has been delayed for various reasons. The Company wants to emphasize that the deal is finalized, contracts are signed, and work has already begun transcoding our content for the new channels. We will update everyone as soon as possible. All material information has been released in previous PR, and there are good reasons for the delay that are in the best interest of shareholders long-term. Please be patient and focus on all the other great things happening with Metatron, its only one finished deal of many in negotiation.

We are still working on the latest quarterly report and preliminary app sale numbers indicate significant growth in revenue from previous quarter. The Company expects this overall trend to continue, barring any unforseen problems.

The company news blog has had a record number of views today:

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