Business
Gamelancer Media Exceeds Q2 OTT Forecast, 2023 Revenues Exceed Q2 2022
TORONTO, ON / ACCESSWIRE / August 14, 2023 / Gamelancer Media Corp. (TSX:GMNG)(OTCQB:GAMGF)...
About this update from Vertiqal Studios Corp
[{"type":"text","content":"Gamelancer Media Exceeds Q2 OTT Forecast, 2023 Revenues Exceed Q2 2022TORONTO, ON / ACCESSWIRE / August 14, 2023 / Gamelancer Media Corp. (TSX:GMNG)(OTCQB:GAMGF)(FRA:P93) (the \"Company\" or \"Gamelancer\"), an owned & operated digital-channel network and video-production studio, is pleased to announce its financial results for the second quarter of 2023. During this period, the Company has exceeded management's projections, achieving revenue growth of 171% compared to Q2 2022, with total revenues of $1,420,830 CDN for the three months ended June 30, 2023, versus $523,865 CDN for the three months ended June 2022. Gamelancer's vast social network of 66 digital channels now totals over 41 million followers, creating one of the largest active and growing digital audiences in the 4 most valuable English-speaking media markets on the planet, being the US, Canada, the UK, and Australia. 67% of Gamelancer's audience resides in the US.Gamelancer as a public entity is unique in that the company provides market participants exposure to the monetization of digital channel ownership on TikTok, Snapchat, and Instagram. Gamelancer owns one of the largest communities on TikTok globally and is a strategic partner of TikTok, participating in numerous TikTok revenue-share pilot programs.The 2023 Q2 financial report underscores Gamelancer's ability to drive sustainable growth from a revenue and network perspective, demonstrating our value proposition that owned & operated channels + JoyBox, our creative studio, creates a unique \"walled-garden\" media offering for brands. As mentioned in the press release dated May 31, 2023, Q2 2023 witnessed increased revenue, network growth, and reduction in overhead costs as Gamelancer strives to be EBITDA positive in Fiscal Year 2023.Management and the board would like to remind shareholders that the company has now fulfilled all financial and equity obligations related to the acquisition of both Gamelancer Inc and JoyBox Media Corp. In addition, please note costs attributed to the company becoming a senior issuer via an up-listing to the TSX and share-based compensation have impacted Q2 expenses.Consolidated Statement of Loss and Comprehensive LossThree months ended June 30, 2023Six months ended June 30, 2023Revenues$1,420,830$2,143,039Gross Margin982, 6131,160,568Total Expenses5,752,3308,751,967Loss ...