Friendable, Inc. (OTC: FDBL) is a mobile technology and marketing company most known for its growing Fan Pass livestream platform. FDBL has been on investors’ watchlists ever since its acquisition of the prominent music distribution company – Artist Republik. With the company starting to show signs of growth, some investors are confident FDBL stock holds some long-term value. As the company is preparing new initiatives and exploring metaverse opportunities, FDBL is one to watch this year.
FDBL Stock News
Fan Pass Platform
Ever since FDBL pivoted its focus to its Fan Pass livestream artist platform, the company has seen consistent growth in light of the pandemic and the industry’s rapid growth. Designed to provide a virtual stage for artists to perform, earn and engage with fans throughout the world, FDBL’s Fan Pass has proven invaluable to both artists and fans as an increasing number of performances continue to shift from stage to the screen. Since its release, the platform appeared promising in light of its founders – Robert A. Rositano Jr. and Dean Rositano – who are known for their 27 years track record of technology-related ventures.
*Updated June 21st
As the only 360, all-inclusive music artist platform, Fan Pass has been a huge success among artists as the platform currently has more than 111 thousand artist sign-ups and registrations. Based on this, the Fan Pass platform is witnessing continued growth in traction, revenues, and user retention thanks to the integration of Fan Pass with Artist Republik and FDBL’s other services. With this in mind, FDBL reported growth in key metrics for March as the platform witnessed a 55.6% jump in new customers and a 38% increase in new subscribers compared to February. In this way, spend per customer increased by 5.2% and revenue per subscriber increased by 4.2%.
At the same time, the cancellation rate for the same period declined by 15.6% which could be a sign the platform could witness more growth as more services and features are integrated with Fan Pass. In light of this, many investors are confident FDBL stock could be positioned for a reversal in the near future.
This growth could be mainly attributed to Fan Pass’ rising popularity among artists due to its success in supporting them and growing their careers. A prime example of this is Bigga$tate who is currently performing at the Iowa Summer Jam Tour. Fan Pass has been engaged in Bigga$tate’s career since December 2020 as his exclusive streaming, merchandise, and content partner. Through this partnership, Bigga$tate has been able to grow his career by utilizing Fan Pass’ team, technology, as well as the 360 artist offering. In light of this, Bigga$tate shared that “Fan Pass Live has been the only sponsor that has truly elevated my career in the way all the other platforms promise, but Fan Pass Live has delivered 100% more!”.
Given that artist word of mouth carries much traction in the Indie scene, FDBL believes it could partner with more Indie artists looking to elevate their careers and grow their fanbase. Since artists using the Fan Pass platform are receiving more traction, this could be a major selling point for FDBL as it continues growing its “anti-label” business. Based on this, FDBL stock could be one to hold for the long-term as the company has the potential to grow as a major competitor to music labels.
Artist Republik
To ensure true fan engagement, FDBL has been on the lookout for a distribution company, platform, or service that could complement and enhance its flagship platform – Fan Pass. As of January 24th, the company announced its acquisition of Artist Republik – a prominent music distribution platform. This acquisition will enable substantial expansion as it brings an additional 100 thousand active music artists to the platform along with an extensive tech deck that will benefit both parties – positioning Fan Pass as the only 360, all-inclusive music artist platform.
In light of this acquisition, FDBL reported significant increases in several key metrics that could drive the company and the Fan Pass Live platform’s in their next phases of growth. In January, FDBL saw monthly revenue of $20 thousand – a massive 14000% YOY revenue increase. Additionally, the company announced major expansion in its artist database – which saw over 8000% YOY increase – bringing the total number of artists to a notable 105 thousand.
In addition to a growing artist base, Artist Republik also equipped the platform with many music distribution services, play listing features and fans growth services such as the “Grow with Us” campaigns – essentially offering artists everything a manager and label would without unnecessarily excessive fees.
In light of this, Fan pass is quickly becoming the “anti-label” opportunity for many artists who are looking to maintain their independence yet are in need of a system that facilitates development and exposure to their career. As of now, the platform offers everything from livestream and events to ticket sales and merchandise – all of which serve as revenue streams for each artist and of course, FDBL too.
Aside from the undeniable growth and exposure that Artist Republik brought, FDBL’s CEO – Robert A. Rositano – believes this acquisition was crucial because the company had to “update technologies, bug fix, and expand resources to increase these current and historical revenues”. Clearly, the acquisition has facilitated the platform’s growth and development. However, with a market cap of only 1.7 million, FDBL has a lot of room to grow in 2022 as the company integrates more features and services within the Fan Pass livestream platform.
*Updated June 21st
Considering the potential of the company’s acquisition of Artist Republik, FDBL shared substantial growth in a number of key metrics for Artist Republik over its initial 100 days. Most notably, these results showed a 107.3% climb in revenue per subscriber, as well as a 28.3% increase in spend per customer. This substantial growth was the result of Fan Pass’ team upgrading and rebuilding Artist Republik’s technologies, in addition to cross promoting the entire 360 artist offering. For these reasons, Rositano Jr. believes “2022 has only just begun”. In light of this, FDBL stock could be an opportunity at its current PPS as the company has the potential to further grow its services and platforms in the future.
FeaturedX
FDBL also launched FeaturedX.com which was a part of the company’s acquisition of Artist Republik. This website is mainly used by artists to book a guest feature, co-write, or mix their upcoming releases or increase their reach and exposure through these collaborations. With this in mind, FeaturedX already has thousands of artists available which FDBL could strike partnerships with.
Moreover, FDBL agreed with FeaturedX’s co-founders – Ryan O’Leary and Jeff Menig – to join its team as partners to capitalize on their extensive experience in the music industry. By launching this website, FDBL is focused on growing its platform as well as its artist base. Based on this, FDBL could be in a prime position for financial growth in 2022 and beyond.
Metaverse Plans
In the meantime, FDBL is exploring more growth opportunities related to the metaverse and NFTs. It is worth mentioning that the music industry is witnessing increased interest from crypto enthusiasts which has allowed artists to earn more money than they would usually earn. Given that venturing into the metaverse could open a plethora of new opportunities for FDBL, the company is currently looking to acquire metaverse real estate. It plans on acquiring, building, and operating with major players in this sphere in order to launch artists’ careers in the metaverse through exclusive metaverse performances. If the company delivers on these plans in the near future, FDBL stock could be well-positioned for another surge.
Marketing Efforts
Aiming to increase engagement and raise awareness of its platforms, FDBL added TikTok to its marketing and social media efforts which are already trending positively. FDBL is also focused on expanding its reach and striking partnerships to increase its platforms’ exposure as the full suite of its 360 offering is now available. In this way, FDBL managed to increase its Facebook page likes by 60.4% and its engagement rate by 7%.
With this media campaign running over the past 9 months, FDBL shared some encouraging results from its campaign which could also be a sign of upcoming growth. Since starting this media campaign, FDBL generated 93.9 social engagements stemming from 116.8 million impressions. Based on this, FDBL projects that the media value of these results could be worth $1.1 million. Given that the company is currently preparing new initiatives to further grow in the music industry, FDBL stock could be poised for another run if the company shares more good news.
FDBL Stock Financials
In terms of its financials, FDBL showed significant financial growth in its Q1 report. According to this report, FDBL increased its assets QOQ from $253.5 thousand to $1.1 million. However, the company’s liabilities increased slightly in the same period to $5.2 million compared to $5 million before. Meanwhile, FDBL reported $65.2 thousand in revenues compared to only $1.3 thousand a year ago. At the same time, operating costs increased from $561 thousand to $783.9 thousand from the same-year-ago-period. Despite this, FDBL improved its net loss, decreasing it from $2.4 million in Q1 2021 to $708.1 thousand.
Media Sentiment
@greatstockpicks and @MoneyisFoReal are watching FDBL’s reversal with expectations it could hit .002 if it runs.
@Gainzw1zard thinks FDBL could be the next Genesis Electronics Group, Inc. (OTC: GEGI)
Technical Analysis
FDBL stock is currently trading at $.0005 near its resistance and shows other resistances near .0008 and .0011. The stock has supports at .0003 and .0002. FDBL stock recently landed on investors’ watchlists after it ran 100% overnight. Considering that the chart was bottomed out, FDBL stock could gain ground if it is able to break through its .0005 resistance.
In the meantime, accumulation is trending upwards and the MACD is bullish to the upside. The RSI is picking up at 61 after cooling off from 64 to 56. As is, FDBL has an AS of 5 billion, an OS of 2.3 billion, and a float around 2.1 billion.
FDBL Stock Forecast
As more and more fans and artists shift towards digital platforms for different entertainment purposes, companies like FDBL are bound to benefit greatly. Now that the company’s flagship platform – Fan Pass – is regarded as the only 360, all-inclusive music artist platform, FDBL has a competitive advantage that could position it as an emerging leader in the industry.
With the company’s platforms starting to show their true potential, FDBL stock could be one to hold for the long term as the company rolls out its future plans. With this in mind, FDBL’s potential venture into the metaverse could prove to be profitable for the company considering that big-name singers have already taken the opportunity to perform shows in the Metaverse. Given that the company is preparing initiatives to grow in the music industry, FDBL stock is one to watch in anticipation.
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