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June 08, 2020 08:00 ET | Source: FONU2 INC.
ORLANDO, Fla., June 08, 2020 (GLOBE NEWSWIRE) -- LYSN Inc. dba. Live Youth Sports Network / LiveYouthSports.com (Demo), the first of its kind, and which has been years in development, announces its plan to launch its fundraising system to high schools nationwide this fall. LYSN is engaged in the business of automatically live streaming high school sports by installing AI and HD webcams in all of the school's team sports venues. This plan covers all grades and team sports played at the high school venues, at no cost to the school. LYSN's fundraising/pay per view platform is intended for people with health problems, traveling parents, grandparents, military personnel, alumni, scouts, or anyone who cannot physically make it to the game.
The monetization model leverages both local advertising/sponsorships and pay per view viewerships at individual streamed and archived events. We will participate in a revenue sharing model with the schools to assist in their fundraising efforts. As FONU rolls out and expands LYSN's live streaming/fundraising system, we plan to be throughout the US market by 2021.
Shane Jones/CEO commented "We have aligned ourselves with hundreds of high schools. The goal is to wire all team sports venues at no cost to the school. Our plan is to roll out the initial schools this fall, with many areas around the country already approved.” LYSN Inc. projects approx $10 million in revenues its first full year in operation, and could easily exceed $100 million in the next several years. FONU2 Inc. will lead in the live streaming and fundraising concepts by introducing various revenue streams to schools to bring much needed funds that are lacking due to budget restraints.
The youth sports market represents one of the fastest growing niche sectors in the world. Analysts are predicting a boom over the next several years that could be as much as $50 billion in global spending on youth sports and related goods and services, taking annual total spending to $76.5 billion by 2026.
The 2019 acquisition agreement between LYSN Inc. and Sports Venues of Florida, Inc. (BTHR) was officially terminated on March 2, 2020.
FONU2 Inc. (FONU) will continue as a holding company for various companies that specialize in youth sports, live streaming, fundraising, app development, along with other new and emerging technologies. Our goal is to build shareholder confidence and value as we proceed with our mission to become a national company by 2021. The company will immediately file to become current.
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Shane Jones/CEO FONU2 Inc. www.fonu2inc.com/ 352-440-3077