Record Breaking Revenues
Four Channels Launched Across 2022
New Direct-to-Consumer Q PLAY App
Acquisitions and Expansions Paving the Way for an Exciting 2023
TORONTO, MUMBAI and LOS ANGELES - TheNewswire - Dec. 7, 2022 - QYOU Media Inc. (TSXV:QYOU) (OTC:QYOUF), a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, has broken new ground in 2022.
For the nine months ended 30 September QYOU Media’s revenue has grown by 156%. Indeed, it has reported record quarterly revenues for two consecutive quarters, achieving $6.8m in Q2 and $7.2m in Q3.
Adjusted EBITDA loss is also improving, having been cut by $514,396 to $708,016 in the third quarter as higher revenues mitigated the impact of increasing operating expenses related to QYOU Media’s expansion. Net loss is similarly improved, having dropped by 10% to $2.1m.
These earnings improvements come off the back of QYOU Media’s expanding entertainment offering. Its flagship The Q India Hindi language channel had already made a splash in 2021 by reaching 100 million households. However, QYOU Media quickly launched a wide variety of new channels across 2022:
The Q Marathi launched in January to target the youth audience from India’s 84 million strong Marathi-speaking community.
Q Kahaniyan also hit screens in January. The channel’s alternative animation focus, which is aimed at viewers between 15 and 35 years old, is unique in India.
The Q Comedistaan came next, with the 24-hour comedy channel arriving in June.
Q GameX diversified QYOU Media’s offering even more in September, giving viewers gaming content which includes matches, insights, unboxings and tips.
The company now reaches over 125 million viewers weekly on Q branded content channels and is aiming to drive that number to 200 million by mid-2023.
Besides new channel launches, QYOU Media has also enjoyed a raft of operational and technological progress across 2022.
One of the biggest changes seen this year is the launch of Q PLAY. This direct-to-consumer app was launched in October and gives users of Smart TVs and mobile devices access to all five Q India channels along with all new future content offerings from The Q India.
Q Play represents an opportunity for the company to take advantage of India’s direct-to-consumer market, which is expected to grow exponentially and reach a value of $100bn by 2025.
The new app launch came after a Summer of strong operational progress, with the business launching QYOU studios in July. This new in-house production unit in the US is intended to expand clients’ capabilities when it comes to promoting their products on TikTok, Instagram and other major social media platforms.
Its launch followed significant success from QYOU Media’s US operations, which has been breaking its own quarterly revenue records and has delivered creative campaigns associated with seven number one movies from three different major studios.
Next, the business unveiled Q Data in August. This companywide initiative allows the company to use data-driven technology to increase the value of advertising slots and more accurately inform content and programming decision-making.
Additionally, QYOU Media subsidiary Chtrbox launched ChtrSocial in August. This new division is dedicated to helping modern brands multiply their social audiences with a creator mindset including micro-videos and personalized brand storytelling.
Capping off these operational changes was the announcement of QYOU Media’s acquisition of Maxamtech Digital Ventures in October. The addition of the mobile gaming specialist represents part of QYOU Media’s strategy to ramp up its portfolio of direct-to-consumer products as it moves into 2023.
For the new year, QYOU Media plans to continue its growth as a next-gen media company spread across the US and India. Targets for the year ahead include reaching positive cash flow across all operating business units by the end of Q2 2023, as well as reaching 200 million viewers with Q branded channels by mid-2023.
Curt Marvis, Co-Founder and CEO of QYOU Media, commented: “2022 has been characterized by strong growth across all our business units and rapid expansion of our offering. With fresh funding under our belt, we are more bullish than ever about creating shareholder value by exploiting the massive opportunity in the exciting Indian market. We’re building a next-gen brand and are well equipped for further growth in the new year.”
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Words such as "expects'', "anticipates" and "intends" or similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein may include, but are not limited to, information concerning the completion of future investments, the approval of the Exchange of the investments, the approval of the Reserve Bank of India of future investments, the expected use of proceeds from the investment, and statements relating to the business and future activities of QYOU. These forward-looking statements are based on QYOU’s current projections and expectations about future events and other factors management believes are appropriate. Although QYOU believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that the offering and the closing thereof will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond QYOU’s control. Additional risks and uncertainties regarding QYOU are described in its publicly-available disclosure documents, filed by QYOU on SEDAR (www.sedar.com) except as updated herein. The forward-looking statements contained in this news release represent QYOU's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. QYOU undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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