Single Touch Systems Inc. (OTCBB:SITO), an innovative mobile media solutions provider, today announced that on August 31st, it issued a “Letter of Notification” to Netflix, Inc. (NASDAQ:NFLX), the world’s leading Internet subscription service for movies and TV shows, alerting them about its patent directed to streaming and routing media.
The patents include Patent Nos. 7,054,949, 7,191,244, and 7,689,706. From the press release: “Streaming video and music distributed across the Internet or directly to a mobile device is fast becoming a mainstream entertainment delivery vehicle that will generate more than $27 billion in network-derived and content-derived revenue into the US markets by 2012, according to a new market research study from The Insight Research Corporation.”
The letter was sent on behalf of Single Touch by attorneys Polsinelli Shugart and McKool Smith. Single Touch Systems claims to have “filed and been awarded more than 14 patents related to mobile search, commerce, advertising and streaming media.” The Company engages in the development, publishing, and distribution of wireless applications in the United States. According to Anthony Macaluso, Single Touch’s Chairman and Chief Innovation Officer, it is the utmost priority of the Company to protect all that which the Company has accomplished and established.
Shares of SITO soared over 40% on Thursday on hefty volume of 1.41 million shares.
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