LOS ANGELES, Dec. 11, 2013 /PRNewswire/ -- The Psychic Friends Network, Inc. (OTCQB: PFNI), a marketing and entertainment company providing on-demand psychic advice for over two decades, who once dominated the TV airwaves, is announcing a CEO interview by SmallCapStreet.com and acquisition of Psychic-Friends.com keeping in line with industry-wide expansion model.
PFN CEO Marc Lasky turns to SmallCapStreet.com to conduct CEO interview. This interview provides Mr. Lasky's personal insight into the recent news regarding PFNI, which includes the history, significant recent events, and he reviews the roadmap for PFNI's success.
For the full audio interview please visit use this link: PFNI CEO Interview with Marc Lasky
The purchase is the second of numerous such moves now underway as PFN begins the process of acquiring various competing psychic services and properties to help grow and expand the Psychic Friends Network brand globally. The company's goal is to again become the world's leading provider of psychic advice services.
PFN CEO Marc Lasky said, "Our goal is to once again dominate the psychic service industry, just as we did when we pioneered the concept two decades ago. Right now, the industry is fragmented. We believe we can provide a better product to customers around the globe by consolidating and expanding psychic services, and once again controlling their quality."
The psychic services industry that the Psychic Friends Network is now moving to dominate is considered by financial analysts to be a highly lucrative marketplace. According to a recent report from IBSWorld Market Research, over the five years from 2007 to 2012, while most other industries were suffering the ill effects of an economic downturn, the psychic services industry grew at an average annual rate of 2.0% to an estimated $2.1 billion.
According to the IBSWorld report, "There are no companies with a dominant market share in this industry." It is that potential for growth that is spurring the Psychic Friends Network to begin buying out its competitors and seeking to once again dominate what it considers a major growth industry.
About Psychic Friends Network
The Psychic Friends Network, Inc. ("PFN") is a marketing and entertainment company providing on-demand psychic advice as well as daily and weekly horoscopes. PFN connects professional live psychic readers with customers via telephone (mobile and landline) and through their newly developed state-of-the-art online platform enabling interaction with video chat, voice or text chat. PFN pioneered the psychic industry with memorable television/radio marketing and infomercials generating nearly $1 billion in revenues.
To learn more about PFN corporate and investor relations, visit The Psychic Friends Network Investor Relations
To learn more about PFN online operation visit http://www.PsychicFriendsNetwork.com
Disclosure Regarding Forward-Looking Statements This news release contains forward-looking statements, including statements containing the words "believes," "anticipates," "expects," "intends" and words of similar import. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that the Company believes might cause such differences include: (1) concentration of the Company's assets into one industry segment; (2) the nature of the Company's business (as defined herein); (3) the impact of changing economic conditions; and (4) the actions of competitors, including pricing and new product introductions.
For future updates on PFNI use this link: PFNI Updates
SOURCE Psychic Friends Network, Inc.