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Ku6 Media Reports Fourth Quarter and Fiscal Year 2010 Unaudited Financial Results

BEIJING Feb. 28, 2011 China December 31, 2010

Background

August 17, 2010

August 31, 2009

Highlights

  • $6.8 million $4.3 million $16.6 million
  • Guangzhou
  • In 2010, through live coverage of sports events such as the South Africa World Cup and Guangzhou Asian Games, successful launch of self-produced net-based variety and reality shows, and airing of a large number of copyright-compliant, domestic and international movies and TV episodes, Ku6 continued to solidify its leading position in Chinese online video industry.

Business results

January 2010 August 2009 December 31, 2010 August 2010 December 31, 2009 August 2009

Business results for the fourth quarter of 2010

$6.8 million $4.3 million China

$5.7 million $5.3 million

$9.8 million $7.4 million

$15.5 million $12.7 million

August 2010 $0.4 million . $3.5 million

$15.4 million $12.8 million $5.2 million

$0.44 $0.40 $0.24

$13.8 million $11.4 million $5.0 million

December 31, 2010 $27.3 million $40.1 million September 30, 2010 $49.7 million December 31, 2009

Business results for fiscal year 2010

$16.6 million December 31, 2010 January 2010 December 31, 2010 $1.0 million

$23.9 million $0.5 million

$29.7 million $7.1 million

$53.5 million $6.3 million

$1.3 million $17.4 million

$51.5 million $23.4 million

$1.67 $1.06

$46.3 million $21.3 million

Shanyou (Kevin) Li

Note to the financial information

December 31, 2010

December 2010 January 2011 December 31, 2010

Conference call

Monday, February 28, 2011 7:30 a.m. EST Monday, February 28, 2010 8:30 p.m. Beijing Hong Kong

Dial-in numbers:      

U.S.A.:

+1- 866-356-3095

International:

+1- 617-597-5391

Password:

73404018

February 28, 2011

USA:

+1- 888-286-8010

International:

+1- 617-801-6888

Password:

12918934

http://phx.corporate-ir.net/playerlink.zhtml?c=187793&s=wm&e=3758114

About Ku6 Media Co., Ltd.

China China

As a leading online video portal, www.ku6.com provides a video platform for sharing and watching user-generated content. It also provides online video news, reports, and other interactive entertainment programs for its users.

http://www.ku6.com/about/ku6/

China http://www.radio-arts.com/

August 17, 2010

August 17, 2010 August 17, 2010

Forward-looking Statements

China China

For more information, please contact:

Mr. Matthew Zhao (English and Chinese)

Investor Relation s Officer

Telephone +86 10 5758 6818 in Beijing

ir @ku6.com

Ku6 Media Co., Ltd.

Unaudited Condensed Consolidated Balance Sheets

As of December

As of December

31, 2010

31, 2009

(As adjusted)*

(in thousands of U.S. dollars)

Assets

Current assets:

Cash and cash equivalents

$27,295

$49,744

Short-term investment

10,000

Accounts receivable, net of allowance for doubtful accounts

8,135

4,010

Accounts receivable due from related party

326

52

Prepaid expenses and other current assets

3,487

1,890

Other receivable due from related parties

5,532

63

Inventories

31

202

Total current assets

44,806

65,961

Deposits

332

Property and equipment, net

8,004

1,472

Acquired intangible assets, net

27,264

1,645

Goodwill

6,896

2,099

Total assets

$86,970

$71,509

Liabilities and shareholders’ equity

Current liabilities:

Accounts payable

$15,503

$4,880

Accounts payable due to related party

1,665

Accrued expenses and other current liabilities

11,462

6,332

Other payable due to related parties

7,777

1,904

Income tax payable

655

Current deferred tax liabilities

12

Total current liabilities

36,407

13,783

Long-term payable

18

Non-current deferred tax liabilities

4,925

403

Total liabilities

41,332

14,204

Redeemable non-controlling interest

371

Shareholders’ equity:

Ordinary shares

174

110

Additional paid-in capital

130,100

76,606

Accumulated deficit

(83,105)

(31,595)

Accumulated other comprehensive income

(1,423)

9,956

Total Ku6 Media Co., Ltd. shareholders’ equity

45,746

55,077

Non-controlling interests

(108)

1,857

Total shareholders’ equity

45,638

56,934

Total liabilities and shareholders’ equity

$86,970

$71,509

*: The balance as of December 31, 2009 includes the assets and liabilities of the WVAS and recorded music business as well as Yisheng’s online radio business due to common control transactions, while the balance as of December 31, 2010 only reflects the assets and liabilities of Ku6’s online video business acquired in 2010 and Yisheng’s online audio business.

Ku6 Media Co., Ltd.

Unaudited Condensed Consolidated Statements of Operations

For the three months ended

For the twelve months ended

December
31,

December
31,

December
31,

December
31,

2010

2009
(As
adjusted)*

2010

2009
(As
adjusted)*

(in thousands of U.S. dollars, except share and per share data)

Revenues:

Advertising

6,766

770

16,556

1,036

Third parties

6,579

612

15,854

720

Related parties

187

158

702

316

Total revenues

6,766

770

16,556

1,036

Cost of revenues:

Advertising

12,463

427

40,459

556

Third parties

12,336

427

40,083

556

Related parties

127

376

Total cost of revenues

12,463

427

40,459

556

 

 

 

 

Gross loss

(5,697)

343

(23,903)

480

Operating expenses:

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