Business
Sanwire Corporation Provides Revenue Guidance for Second Quarter Ended June 30, 2020
Sanwire Corporation Provides Revenue Guidance for Second Quarter Ended June 30, 2020.
About this update from Sanwire Corp.
[{"type":"text","content":"\n\n\n\nSanwire Corporation Provides Revenue Guidance for Second Quarter Ended June 30, 2020\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSanwire Corporation Provides Revenue Guidance for Second Quarter Ended June 30, 2020\nPR Newswire\nLOS ANGELES, July 7, 2020\n\n\n\nLOS ANGELES, July 7, 2020 /PRNewswire/ -- Sanwire Corporation, (\"Sanwire\" or the \"Company\") (OTC: SNWR), a diversified company focused on the entertainment industry, is pleased to provide revenue growth and guidance for its subsidiary Intercept Music, Inc. (\"Intercept\") and Art is War Records label (\"AIW Records\") on a consolidated basis for the second quarter ended June 30, 2020.Sanwire's revenues for the quarter ended June 30, 2020 have increased approximately 300% since it acquired Intercept on March 5, 2020 and AIW Records on June 9, 2020. Sanwire will be publishing its second quarter financial statements in the coming weeks. All figures are unaudited and based on a consolidated basis.Sanwire's second quarter revenues encompass one whole quarter for Intercept (April-June 2020) and approximately three weeks of AIW Records June 9-30, 2020. In its first quarter financial statements, Sanwire reported Intercept revenues for the period March 5-31, 2020 on a consolidated basis.Revenue growth is attributed to an increase in Intercept's customer acquisition as well as its introduction of the Intercept PLUS program. Revenue is expected to continue to grow in the third quarter of 2020 from the rapid expansion of its Intercept Plus program, including physical distribution and retail stores as well as through its acquisition of the AIW Record label.Additionally, Intercept announced it has expanded its service offerings and expanded its social media reach for artists through its agreement with a UK-based company to offer rapid-fire publishing and scheduling to the world's most popular platforms, including Instagram, Facebook Groups and Pages, Twitter, Linked-In and YouTube, among others, along with campaign and graphic design support. More information on this service will be announced once product integra...