Business
Super League Gaming Reports Record Third Quarter 2021 Results
Quarterly Revenues up More Than 5x to $3.6 Million With Increases in All Primary Revenue Streams SANTA MONICA, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Super
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"Quarterly Revenues up More Than 5x to $3.6 Million With Increases in All Primary Revenue Streams\nSANTA MONICA, Calif., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in video game experiences and entertainment at the intersection of the metaverse, creator economy and gameplay content, reported recent operational developments and financial results for the third quarter ended September 30, 2021. Q3 Highlights and Recent Operational Developments Revenues in the third quarter 2021 reached a record $3.6 million, up 402% compared to Q3 2020 with increases in all primary revenue streams.Advertising and sponsorships revenue increased 689% over the prior year quarter to $2.4 million.Balance sheet remains solid with $24.5 million of cash on hand as of September 30, 2021, and no debt.Our platform serves 1.1 million creators with tools and economies, attracts 70 million monthly active players, and is on track to surpass 10 billion views in 2021.Successfully completed the acquisition of Bannerfy, a creator monetization and intelligent technology platform, expanding our advertising and sponsorship partner base.Acquired Bloxbiz, the first independent in-game advertising platform designed for Roblox, enabling advertisers to reach young gamers at scale and deepening our commitment to the metaverse.Won the 2021 Tempest Award for Best Diversity and Inclusion Initiative for Super League Arena Galentine’s Games.Advanced our partnership with Screenvision Media including the launch of Super League Spotlight, a series showcasing best in-game play highlights to movie theater audiences. Management Commentary“In the third quarter, we made tremendous progress expanding our metaverse footprint and audience reach while growing our topline revenue to a new quarterly record,” said Ann Hand, Chief Executive Officer of Super League Gaming. “We recently made two important acquisitions, Bannerfy and Bloxbiz, adding to our talented creator base as well as their coveted audiences. We like the advertising trends as well – advertisers are valuing our ability to connect them with young and core gamers with premium in-game and in-stream ad units, leading to an increase in both repeat advertising buys and average advertising deal size. In fact, we have quadrupled our pipeline in the last six months and...