Business
Sanwire Corporation Provides Performance Guidance for Q2/2022 with Revenue Increase of Approximately 175% on a Year-Over-Year Basis
Sanwire Corporation Provides Performance Guidance for Q2/2022 with Revenue Increase of Approximately 175% on a Year-Over-Year Basis.
About this update from Sanwire Corp.
[{"type":"text","content":"SAN FRANCISCO, CA / ACCESSWIRE / August 4, 2022 / Sanwire Corporation, ("Sanwire" or the "Company") (OTC PINK:SNWR), an entertainment-technology innovator, is pleased to provide revenue growth and guidance for its wholly-owned subsidiary, Intercept Music, Inc. ("Intercept").Sanwire's revenues for the second quarter ended June 30, 2022 ("Q2/2022") have increased approximately 175% as compared to the quarter ended June 30, 2021. Sanwire will be publishing its Q2/2022 financial statements and operational performance in the coming weeks. All figures are unaudited and based on a consolidated basis.Q2/2022 revenue increase and performance excellence are attributed to many factors with growth across all major income streams. Major drivers behind the increased revenue are:8.6 million verified streams for the period ending May 2022partnership launch with the Method Man in April 2022 contributed greatly to the increase in the streaming figuresuptick demand in our label incubation program and the extensive playlisting services programcontinued to add new artists directly to Intercept platform as well as through indie labelsIncrease in our marketing staff resulted in additional marketing activities that brought in new customer sign-ups. New marketing programs have generated additional revenuesIncrease in our operational staff resulted in faster on-boarding/provisioning processesSignificant enhancements to our proprietary software that has eliminated several manual processes in the on-boarding processRevenue growth increase is expected to continue in the third quarter of 2022 ("Q3/2022") as Intercept pushes ahead with its multi-faceted marketing campaigns. Other drivers that will contribute to Q3/2022 revenue growth include:the recently announced partnership with more than 7,000 titles reggae catalog, that includes Grammy award winners such as Sean Paul, Shaggy, Beenie Man and others), will start generating revenues in August/September of 2022partnership launch with Method Man in April 2022 will continue to bring in additional revenues in Q3/2022 as the partnership maturesrecent partnerships with influential players in the music industry, including CC Enterprises and Litco Entertainment, will generate additional leads and customers.our proprietary marketing campaigns are also proving a huge s...