Business
Gamelancer Media Q1 2023 Revenues Exceed Q1 2022 by 986%
Accelerating Scalability Through Data-Driven Value Assessment TORONTO, ON / ACCESSWIRE / May ...
About this update from Vertiqal Studios Corp
[{"type":"text","content":"Gamelancer Media Q1 2023 Revenues Exceed Q1 2022 by 986%Accelerating Scalability Through Data-Driven Value AssessmentTORONTO, ON / ACCESSWIRE / May 31, 2023 / Gamelancer Media Corp. (CSE:GMNG)(OTCQB:GAMGF)(FRA:P93) (the \"Company\" or \"Gamelancer\"), a leading digital media, entertainment, and production company, is pleased to announce its financial results for the first quarter of 2023. During this period, the Company has exceeded management's projections, achieving revenue growth of 986% compared to Q1 2022.To establish and better articulate the value of the Company's owned and operated digital channels, Gamelancer strategically enhanced its investment in previous audit procedures. This strategic initiative was implemented to ensure a comprehensive and reliable valuation of the Company's expansive network and creative capabilities, thereby establishing a robust precedent for valuing Gamelancer's 54 digital-channels with over 40 million followers, 56% of which live in the US. The value a brand attributes to a viewer/follower/subscriber is described principally by their location. Gamelancer's network resides over 75% in Canada, the US, Australia, and the UK, with active clients in each region. Gamelancer owns one of the largest active and growing digital audiences in the 4 most valuable English-speaking regions on the planet to brands and agencies.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 Q1 financial report underscores Gamelancer's dedication to driving sustainable growth from a network perspective, as well as revenue, thereby enhancing shareholder value. Q2 2023 will witness increased reduction in overhead costs as Gamelancer gets closer to its aim of being EBITDA positive in Fiscal Year, 2023.Revenues$722,209Gross Margin$177,955Total Expenses$2,999,637Net Loss$(2,590,925)Adjusted EBITA[1]$(1,273,961)*Revenues increased by 986% in Q1 2023 compared to Q1 2022.Although Q1 is historically the slowest quarter in the media sector2, Gamelancer had numerous campaigns launched within Q1, however they span multiple quarters...