SANTA BARBARA, Calif., Aug. 17, 2015 (GLOBE NEWSWIRE) -- StreamTrack, Inc. (STTK) ("StreamTrack" or the "Company"), a sports and entertainment company announced that wholly owned StreamTrack Media, Inc. "STM" has executed an Agreement with Impact Fantasy Sports "IFS" to develop Fantify: A fully customizable daily fantasy sports and private label fantasy sports technology platform. Fantify plans to offer customized fantasy league games to U.S. based brands, casinos, sports bars, and restaurants.
Impact Fantasy Sports is a United States based company that focuses on fantasy sports game development. Its mission is to provide contemporary, user-friendly games for fantasy sports, one of the largest growing industries. Fantify's white-label gaming platform is designed to run a variety of B2B, promotional or pay-to-play short duration or daily fantasy sports contests. It is a self-service product allowing anyone or company to create and brand their own free to play or pay to play fantasy sports contest to their piers or customers. Pay to play contests will pull from the entire Fantify network of clients, sharing revenue with the referring clients.
Under the terms of the Agreement, Impact Fantasy Sports will grant StreamTrack a non-revocable 50% ownership interest in the assets relating to the Fantify Brand and Software. After external and fixed expenses, revenue will be split in a 50/50 share between IFS and STM. StreamTrack shall be responsible for an agreed upon scope of work to improve the Fantify code, enhance reporting, as well as provide backend support and maintenance as needed throughout the NFL 2015 season for both the Amped Fantasy Sports and Fantify products. Both parties agree that each party maintains the right to buy the Fantify software and brand at 80% of the products current value at the time of sale and have exclusive rights to the Fantify Brand and software.
Michael Hill, CEO of StreamTrack stated: "This partnership significantly strengthens our position in the daily fantasy sports market with a fully functional private label fantasy sports platform. We are excited to work closely with Todd and the IFS team to bring the Fantify platform to market for the 2015 NFL football season. The industry continues to see explosive growth and brands are in need of an easy to use fully customizable solution. We believe that by offering this solution to brands, casinos, sports bars, and restaurants we will be able to aggregate a large network of fantasy sports players and sports enthusiasts."
"We are in a very exciting time period for the fantasy sports industry and we are proud to be a partner with StreamTrack. Their extensive experience in developing private label technologies and their digital media capabilities make for a truly synergistic relationship that is poised for success. We are equally as excited that StreamTrack recognizes the value and capabilities of our fantasy sports gaming platform. We will continue to develop unique features that increase the brands ability to increase revenue and improve brand loyalty." said Todd McMahon, co-founder of Impact Fantasy Sports.
About StreamTrack, Inc.StreamTrack, Inc. (the "Company") is a sports and entertainment media company. The Company through ampedfantasy.com has entered the rapidly growing daily fantasy sports industry. Through sportsalert.com the Company owns a subscriber based alert system for various sports with over 100,000 registered users. The Company also provides audio and video streaming and advertising services through its RadioLoyalty(TM) Platform (the "Platform") to over 5,000 internet and terrestrial radio stations and other broadcast content providers. The Platform consists of a web-based and mobile player that manages streaming audio and video content, social media engagement, display and video ad serving within the web player and is also capable of replacing audio ads with video ads within the web player in a live or on-demand environment. For more information visit: http://www.streamtrack.com
About Impact Fantasy Sports, LLC. Impact Fantasy Sports is an interactive development company focused on creating customizable and engaging fantasy sports games. Our proprietary game platform delivers white-label, turn-key, fantasy sports contests for companies looking to engage their audience through fantasy sports. Our mission is to create online fantasy sports games that are designed and developed to foster the competitive spirit, passion, and creative energy of the fantasy sports gaming community. For more information visit: http://www.impactfantasysports.com
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about StreamTrack's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.