MyScreen Snags $5M to Launch in Middle East Markets

MyScreen Mobile may be on the pink sheets, but Global Financial Enterprises LLC sees potential in the mobile advertising company’s Middle East growth, with a $5 million investment to launch MyScreen’s products in Turkey, the Middle East, and other markets in 2010.

While similar to other technologies on the market, Miami-based MyScreen boasts its advertising tools are different in that they offer full-screen ads at the end of every call, creating better visibility than SMS texts and banner ads. But users have to opt-in to these end-of-call ads, and that’s where MyScreen starts to look a little less attractive.

Still, the company believes that users will opt in to ads displayed at the end of their calls for offers and even free cell phone minutes. MyScreen recently rolled out a campaign in Latin America which targets customers with free airtime in exchange for viewing ads. The company says it plans to launch a similar opt-in campaign in the US and Europe in 2010.

With the $5 million additional investment, MyScreen will follow up to its successful trial with Turkcell, and is a big endorsement for the company, which has yet to generate any meaningful revenue, says RTTNews, which has placed My Screen Mobile Inc. (MYSL.PK) on its Penny Stock to Watch list. MyScreen says its ads have generated click thru rates or CTR exceeding 20% during a 2009 commercial trial, compared to internet CTRs that average less than 1%.