Business
Super League Announces Preliminary Record Fourth Quarter Revenue of Approximately $9.4 Million; an Increase of 32% Year-over-Year
~Company Issues 2023 Shareholder Letter~ ~Record Contract and Pipeline Expansion Pave Way for Profitability in 2024~ SANTA MONICA, Calif., Jan. 16, 2024
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"~Company Issues 2023 Shareholder Letter~ ~Record Contract and Pipeline Expansion Pave Way for Profitability in 2024~ SANTA MONICA, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Super League (Nasdaq: SLE), a global leader in providing immersive experiences across the world's largest digital social platforms, today announced preliminary fourth quarter revenue grew 32% year over year to a company record of approximately $9.4 million. In association with the announcement of preliminary fourth quarter 2023 revenue, the Company has issued the below letter to shareholders from Chief Executive Officer, Ann Hand. Dear Fellow Shareholders, 2023 turned out to be a year of strong momentum for Super League, highlighted by accelerated growth, streamlined operations, and the largest contract in the company’s history leading to record annual revenues of approximately $25.0 million. With additional cash from our recently secured financings, we are now, more than ever, in a better position to drive significant revenue growth leading to profitability in 2024. Super League’s core mission is to help brands speak the language of 3D engagement, the new language of the internet, and the inevitable way the majority of digital advertising dollars will be directed in the future to reach new audiences and deepen engagement. We strive to be the leading provider for brands’ digital advertising as this 3D engagement materializes, and through years of developing our capability and proprietary IP, we are creating an operating system for the 3D Web. During 2023, we further solidified our leadership position as builders of immersive 3D experiences—a dominant form of digital social interaction—across world-class platforms including Roblox, Minecraft and Fortnite, among others where the seismic shift of audience has already occurred with more than a half a billion users and growing. These platforms drive the future of advertising and have enraptured Generation Z and Alpha with the average Roblox user spending approximately 156 minutes a day on the social platform (more than 1.5X the time spent on TikTok). With Super League as their usher, more global brands are following suit with their ad spending into this transformative nascent marketing channel. While in-game advertising is expected to reach a market size of $56 billion in 2024, that represents a small slice of the...