Clubhouse Media Group Closes Acquisition of Magiclytics
February 08 2021 - 8:00AM
InvestorsHub NewsWire
Clubhouse Media Group Closes Acquisition of
Magiclytics
LOS
ANGELES, CA -- February 8, 2021 -- InvestorsHub NewsWire --
Clubhouse Media Group, Inc. (OTCMKTS:CMGR)
(“Clubhouse Media” or the “Company”), an influencer-based marketing
and media firm with a global aggregate social media reach of over
100 million followers, is pleased to announce the closing of the
Company’s acquisition of Magiclytics, the world’s first Revenue
Prediction Software platform for influencer-based
marketing.
Wilfred Man, Founder and CEO of Magiclytics,
remarked, “Integrating our platform and team into the flourishing
influencer model at Clubhouse Media creates enormous
complementarity, and we are thrilled to come on board. Our AI
engine has processed billions of social, demographic, and financial
data points in order to optimize virtually any influencer campaign.
Simply put, we give brands meaningful insight into the ROI they can
expect from an influencer before they part with a single
penny.”
Historically, brands have turned to superficial
and often misleading metrics – impressions, “likes”, sharing – as
proxies for estimating returns on prospective influencer-based
marketing across social media platforms. This process is rarely
better than random guesswork because it incorrectly assumes a
direct relationship between visibility and
efficacy.
Magiclytics leverages its massive database and
leading-edge proprietary AI-driven predictive analytics technology
to project the actual return, in sales, from the pairing of a
specific product with a specific influencer or group of
influencers. Historical data maintained by Magiclytics demonstrates
the accuracy of its technology.
Clubhouse Media believes that proprietary
predictive analytics represents a potentially critical edge in an
industry that is already large and growing rapidly. According to
Magiclytics’ internal market research, the Company believes the
total spend on influencer-based marketing grew 104% on a
year-over-year basis in 2020 to reach $4.86 billion. The outlook
for the space continues to be strong over coming years according to
third-party research. For example, ResearchAndMarkets.com recently
released its outlook, which shows the world's influencer marketing
platform industry set to grow from $6 billion in 2020 to $24
billion by 2025, at a rapid CAGR of 32%.
“This is the killer app in our
marketplace,” commented Amir
Ben Yohanan, CEO of Clubhouse Media. “We believe reliable
predictive analytics can help Clubhouse Media attract bigger and
better deals with top global brands. In addition, Magiclytics
represents another income stream as a service to outside brands and
influencers on a fee basis. It will also give us an analytic
foundation to evaluate brand development projects and determine how
we can best leverage and monetize our top in-house influencer
talent.”
About Clubhouse
Media
We
believe Clubhouse Media represents the future of influencer media
and marketing, with a global network of professionally run content
houses, each of which has its own brand, influencer cohort and
production capabilities. Clubhouse Media offers management,
production and deal-making services to its handpicked influencers,
a management division for individual influencer clients, and an
investment arm for joint ventures and acquisitions for companies in
the social media influencer space. Clubhouse Media’s management
team consists of successful entrepreneurs with financial, legal,
marketing, and digital content creation
expertise.
Please follow us on Twitter: twitter.com/ClubhouseCMGR?s=20
FORWARD-LOOKING STATEMENTS: This release
contains "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements also may be included
in other publicly available documents issued by the Company and in
oral statements made by our officers and representatives from time
to time. These forward-looking statements are intended to provide
management's current expectations or plans for our future operating
and financial performance, based on assumptions currently believed
to be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance.
Examples of forward-looking statements include,
among others, statements relating to future sales, earnings, cash
flows, results of operations, uses of cash and other measures of
financial performance.
Because forward-looking statements relate to the
future, they are subject to inherent risks, uncertainties and other
factors that may cause the Company's actual results and financial
condition to differ materially from those expressed or implied in
the forward-looking statements. Such risks, uncertainties and other
factors include, among others such as, but not limited to economic
conditions, changes in the laws or regulations, demand for products
and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward-looking statements.
Any forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Corporate Contact
Simon Yu, MBA
Phone: +1-702-479-3016
Investor Relations
Tiger Marketing & Branding
Agency
info@TigerGMP.com
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