In an industry with more than 30 million players over 15,000 courses, with annual revenues exceeding $85 Billion in North America alone, the MyGolf Rewards program has completed its pilot phase. The program successfully proved its ability to drive incremental revenues and encourage players to engage in additional rounds of golf. Utilizing the MyGolf Rewards program, the average course will be able to drive incremental revenues of over $50,000 per season, per course, by attracting new customers while establishing enhanced loyalty with existing customers. In this economic environment, golf courses are actively seeking new and innovative ways to maintain or broaden their customer base while increasing revenue opportunities.
Based on initial results, it is anticipated that annual revenues to Consorteum Holdings will total over $20,000 per season / per participating golf course. The company will further expand the program into international markets in 2010, and is currently working with overseas partners to that end. Consorteum Holdings anticipates making an announcement on these initiatives shortly.
Mobile Check Cashing: Targeting an $80 billion per year check cashing industry, the initial pilot program for Mobile Check Cashing has been launched and is actively being marketed. The first customers are currently being set up and check cashing services are now scheduled to begin. According to the press release, significant interest has been shown by other groups to promote the program and Consorteum is expecting additional expansion of the program in early 2010.
First Nations Financial Services: After a significant review of the First Nations initiative, which targets a market with over $16 Billion in annual transactions, Consorteum and FNFS has engaged with several key members of the community to advise on the marketing and business strategy prior to launch of this new program. This new direction will enable Consorteum to create a more focused and strategic relationship with First Nations’ members and provide financial services that best reflect the unique needs of the community. This initiative has been built to drive revenues both for Consorteum Holdings and FNFS, as well as support the local economies of the communities it will provide services to. Based on all the services to be provided, Consorteum believes annual transaction processing volumes of over $1.0 Billion a year are potentially attainable. Additional information regarding the launch of the program will be forthcoming within the next month.
Consorteum Financial Services: In a multi-billion dollar transaction processing industry, Consorteum’s Financial Services has been working diligently to advance its relationships in both the U.S. and Canada with major financial institutions. Through its efforts, Consorteum has been able to move into new areas of consulting in both the transactional processing industry and card-issuing arena, bringing additional revenue sources to the program. This new and important revenue stream for Consorteum will continue to build on value in the programs launched as well as enhance the services provided.
Moving forward, Consorteum will focus on adding new recurring revenue streams for transaction processing and card issuance activities, not just upfront fees and retainers. The company is also looking to expand services into several targeted overseas markets that are aggressively seeking out leading edge solutions to replace outdated legacy systems.
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