SANTA MONICA, Calif., Jan. 27, 2014 /PRNewswire/ -- Rightscorp, Inc. (OTCQB: RIHT), a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP), reported revenues for its fourth quarter ended December 31, 2013. The Company announced Q4 revenues of $155,381 up 195% from $52,739 in the same period last year. Revenues for the full year 2013 were $324,000, up 239% from $95,565 for the full year 2012. The growth in revenues was driven by the Company's ability to increase the amount of copyrights in its automated system by 135% from approximately 17,000 in the fourth quarter 2012 to more than 40,000 in the fourth quarter of 2013.
Robert Steele, COO stated, "The trending in our numbers is very encouraging. Since receiving additional equity from our investors, we have been able to further automate our process for ingesting copyrights. We currently have over 1 million copyrights under contract and we are loading thousands more every month. Our operational model is proving its ability to scale into a large and successful business as we help collect on behalf of artists and copyright holders. The increase of our ingestion rate will be our primary focus as it is a direct revenue driver in hand for 2014. We can expect our $750,000 annual revenue run rate to accelerate as we are at 4% of our copyrights under contracts ingested. Additionally, increases in the number of ISP's forwarding our notices should further drive our growth rate and increase revenues.
"The metrics are clear. As we continue to ramp up our copyright inventory, we expect our revenues to increase proportionally. To date, we have closed on more than 50,000 cases of copyright infringements, and we have paid the owners of those copyrights for their work. We are currently in talks with the owners of millions of additional copyrights. Rightscorp is pleased to offer a technology and an operational system that enables the creators and owners of intellectual property to be rightfully compensated for the use of their assets."
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP). The Company's patent pending digital loss prevention technology focuses on the infringement of digital content such as music, movies, software, and games and ensures that owners and creators are rightfully paid for their IP. Rightscorp implements existing laws to solve copyright infringements by collecting payments from illegal file sharing activities via notifications sent through Internet Service Providers (ISPs). The Company's technology identifies copyright infringers, who are offered a reasonable settlement option when compared to the legal liability defined in the Digital Millennium Copyrights Act (DMCA). Based on the fact that 24% of all Internet traffic is used to distribute copyrighted content without permission or compensation to the creators, Rightscorp is pursuing an estimated $2.3 billion opportunity and has monetized major media titles through relationships with industry leaders. http://www.rightscorpinc.com/
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