Worlds.com Expects to Report
Record Revenues for Second
Quarter
NEW YORK--(BUSINESS WIRE)--July 19, 2000--
Company Chairman Cites Growth in All Revenue Categories
Steven G. Chrust, the chairman of Worlds.com WDDD , today said that the Company
expected to report record revenues for its second quarter, ended June 30.
Worlds.com, a three-dimensional (3D) entertainment portal, derives its revenue from
several sources, including advertising and e-commerce. Additional revenue is provided
from subscriber memberships and from the design, development and maintenance of sites
created with Worlds.com content and distribution partners.
Chrust said that he expected revenue to increase by 75 percent over the first quarter of
2000 and to be higher than the Company's previous largest quarter, the fourth quarter of
1999. Revenue in those quarters was $180,023 and $265,892, respectively.
The Company said that 24/7 Media, its advertising sales rep, had brought 91 advertisers to
the Worlds.com site during the final month of the quarter but did not expect revenues to
be impacted until the third quarter.
"We are making real headway on many fronts and the results are beginning to appear," he
said. "We are very hopeful that we will generate significant growth throughout the rest of
this year and into 2001.
"We are continuing to build our relationships with other content sources and distribution
channels, all of which should lead to increased revenues from advertising, e-commerce
and design."
The Company expects to issue its second quarter results on August 15.
"We will forego a conference call when we release earnings," Chrust said, "in deference
to the vacation schedules of analysts and investors. Instead, we will hold an investor
meeting combined with a conference call in early September in New York. We hope this
timing will enable us to reach a larger audience."
About Worlds.com
Worlds.com, the Internet's premier 3D entertainment portal, leverages its proprietary
technology to offer visitors a network of virtual, multi-user environments that have rich
media graphics, text chat, voice-to-voice chat, streaming video and e-commerce. The
environments are focused around entertainment interests and targeted communities such
as music, sports, and general entertainment environments. In the Worlds' Avatar Gallery,
visitors select an avatar (3D character), and customize it into a personal virtual
representation of themselves. The avatar is used to travel in and through the various
virtual environments and participate in interactive activities involving entertainment,
promotions, or e-commerce. Avatars can chat with one another, dance in a nightclub,
e-shop, watch video clips and participate in other activities.
Worlds.com is headquartered in New York City. For more information on Worlds.com,
please contact Andrew Silver &/or Rebecca Fitts, Middleberg & Associates, (212)
699-2589/2663, andys@middleberg.com / rebecca@middleberg.com.
Forward Looking Statements. Except for any historical information contained herein, the
matters discussed in this news release contain forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially from those set
forth in the forward-looking statements. These risks and uncertainties are described in the
company's filings with the SEC. Given these uncertainties, prospective investors are
cautioned not to place undue reliance on such forward-looking statements. The company
disclaims any obligation to update any such factors or to announce publicly the results of
any revisions to any of the forward-looking statements contained herein to reflect future
events or developments.
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