An estimated two billion people around the world are trying
to learn English. For over 15 years, Lingo Media Corporation (OTCQB: LMDCF)
(TSX-V: LM) has been targeting this sizable market with innovative learning
solutions designed to help learners throughout various life stages – from the
classroom to the boardroom – transcend language barriers while becoming more
adept with English, the global language of business. Through its Lingo Learning
subsidiary, Lingo Media provides published resources to China, the world’s
largest English language learning market. Today, the company, along with its
co-publishing partners, commands more than 60 percent market share in the Asian
nation’s immense primary school market.
In 2007, Lingo Media paved the way for additional growth
when it became one of the first companies to adopt speech recognition and
analysis technologies. Since then, the company, through subsidiary ELL
Technologies, has developed a broad range of stimulating, interactive products
for specific purposes and clients – including academic institutions,
governments and corporations. In September, Lingo Media once again demonstrated
the marketability of this technology when it announced a multi-million dollar
language learning software development contract in Colombia. This agreement
continued the company’s rapid progress toward building a sustainable foothold
in the educational markets of Latin America, which are among the most rapidly
expanding on the planet.
The proliferation of mobile electronic devices in developing
markets around the globe has created an unprecedented opportunity for companies
with innovative learning solutions to rapidly expand their global reach.
According to statistics from the Google (NASDAQ: GOOG) Play store, language
learning apps such as Rosetta Stone (NYSE: RST), Duolingo and Memrise have
amassed millions of downloads, but none of these apps offer the specialized learning
solutions being marketed by Lingo Media. For this reason, Lingo Media has
excelled in building a presence in its target markets.
“Learning English in an easy to use digital format is
essential, especially for the military, government, corporate and academic
industries,” Gali Bar-Ziv, president and chief executive officer of ELL
Technologies, stated in a news release. “Through our large digital learning
library, we are able to quickly and seamlessly build custom digital solutions
based on the client’s needs. This further reflects our ongoing ability to gain
market share and advance our position in… Latin America.”
According to a report by Ambient Insight, revenues from
digital English products in Latin America will reach $260.9 million by 2018, up
from just $136.2 million in 2013. Look for Lingo Media to capitalize on this
performance as it continues to expand its presence in the region through the
development of customized learning solutions that address pivotal market
demands.
For more information on the company, visit
www.lingomedia.com
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