Business
Rumble Reports First Quarter 2023 Results
~ Revenue Increased 336% to $17.6 Million Compared to Q1 2022 ~ ~ Key Performance Indicator, Minutes Watched Per Month, Increased to 10.8 Billion from 10.5
About this update from Rumble Inc.
[{"type":"text","content":"~ Revenue Increased 336% to $17.6 Million Compared to Q1 2022 ~ ~ Key Performance Indicator, Minutes Watched Per Month, Increased to 10.8 Billion from 10.5 Billion in Q1 2022~ ~ Rumble Adds YouTube's Top US Gaming Streamer, IShowSpeed, and Twitch's Most-Subscribed Streamer, Kai Cenat ~ ~ Acquires Podcasting and Livestreaming Platform Callin, Founded by David Sacks ~ ~ David Sacks to Join Board of Directors ~ LONGBOAT KEY, Fla., May 15, 2023 (GLOBE NEWSWIRE) -- Rumble Inc. (\"Rumble\") (NASDAQ: RUM), the popular video-sharing platform, announced today financial results for the fiscal quarter ended March 31, 2023. Q1 2023 Highlights First quarter revenue increased over 336% to $17.6 million, compared to $4.0 million in the first quarter of 2022.Average estimated Minutes Watched Per Month (\"MWPM\") increased 3% in the first quarter of 2023 to 10.8 billion, compared to 10.5 billion in the first quarter of 2022, and 11.1 billion in the fourth quarter of 2022.Hours of uploaded video per day increased 82% to 11,181 in the first quarter of 2023, compared to 6,158 in the first quarter of 2022 and 10,373 in the fourth quarter of 2022.Average global Monthly Active Users (\"MAUs\") increased 17% to 48 million, compared to 41 million in the first quarter of 2022, this compares to 80 million in the fourth quarter of 2022, the decrease primarily due to the overperformance of Q4, particularly around the U.S. midterm election cycle. Of the 48 million, 33 million were based in the U.S. and Canada, compared to 29 million in the U.S. and Canada during the first quarter of 2022.As of March 31, 2023, Rumble's balance of cash, cash equivalents and marketable securities was $326.3 million.Made significant progress on its products, including the launch of a new interface for desktop and mobile web, Roku, and Android, greatly improving the user experience.Launched Supporter Badges and monthly subscriptions to further monetize the creators’ channels, providing a 100% creator revenue share for Supporter Badges through the end of 2023.Announced Rumble will exclusively manage Steven Crowder’s content, including his “Mug Club” community, which includes Bryan Callen, Nick Di Paolo, MrGunsNGear, and former SNL host Jim Breuer, and popular show “Louder with Crowder.” Crowder, who has more than 1.2 million followers on Rumble, reached over 58,000 subscribers for...