- Q1 FY 2019 revenues grow to $1,712,703, an increase year-over-year of
13%
TORONTO and LOS ANGELES,
Nov. 29, 2018 /CNW/ - QYOU Media
Inc. (TSXV: QYOU; OTCQB: QYOUF) ("QYOU Media" or the
"Company"), a global media company that packages and produces
premium video and 24-hour channels for broadcast and digital
distribution has reported financial results for the quarter ended
September 30, 2018. All figures
appear in Canadian dollars.
Financial Highlights for the Quarter:
- For the three months ending September
30, 2018, revenues increased to $1,712,703 compared to revenues of $1,514,938 for the three months ended
September 30, 2017, an increase of
13%.
- Net Loss decreased 2% to $1,308,123 for the three months ended
September 30, 2018, as compared to
$1,336,054 for the three months ended
September 30, 2017.
- Cash as at September 30, 2018 was
$2,622,110 compared to $1,069,248 as at June 30,
2018, representing an increase of $1,552,862.
QYOU Media's CEO, Curt Marvis,
stated, "The conclusion of Q1 of fiscal year 2019 marks the beginning of our transition into
an ad-based revenue model around our owned and operated content
channels and formats. As we rapidly expand our audience reach in
India and via our esports
programming we plan to leverage direct ad sales, sponsorships and
influencer driven marketing programs to drive revenue growth.
While these transitions take time, we remain confident in driving
stronger viewership and revenue growth amid an expanding portfolio
of channels and formats around the world."
Detailed information in QYOU Media's financial statements for
the quarters ended September 30, 2018
and 2017, the notes to the financial statements and QYOU Media's
interim management discussion and analysis and quarterly highlights
have been posted to the Company's website and have been filed under
QYOU Media's profile on SEDAR at www.sedar.com.
About QYOU Media Inc.
QYOU Media is a fast-growing global media company that packages
premium content from leading digital video creators for multiscreen
distribution and produces its own shows, formats and 24 hour
broadcast channels. Founded and created by industry veterans from
Lionsgate, MTV, and CinemaNow, QYOU's millennial and Gen Z-focused
products, including linear television networks, genre-based series,
mobile apps, and video-on-demand formats, reach more than 300
million people around the world. Distribution partners include
Vodafone, 21st Century Fox, Liberty Global, Showmax, iflix, Jio,
Super Channel and TATA Sky.
Forward-Looking Statements
This press release may contain "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws, including, without limitation, the Company's
planned transition into an ad-based revenue model, future
geographical and distribution expansion, increased product
portfolio, revenue growth, audience growth and composition and the
future plans of the Company. All information contained herein that
is not clearly historical in nature may constitute forward-looking
information. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, although considered
reasonable by management, are inherently subject to significant
business, economic and competitive risks, uncertainties and
contingencies that may cause actual financial results, performance
or achievements to be materially different from the estimated
future results, performance or achievements expressed or implied by
those forward-looking statements and the forward-looking statements
are not guarantees of future performance. Additional risks and
uncertainties regarding QYOU Media are described in its publicly
available disclosure documents, filed by QYOU Media on SEDAR at
www.sedar.com except as updated herein. The forward-looking
statements contained in this news release represent QYOU Media's
expectations as of the date of this news release, or as of the date
they are otherwise stated to be made, and subsequent events may
cause these expectations to change. Except as required by law, QYOU
Media undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law.
Readers are cautioned not to put undue reliance on these
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE QYOU Media Inc.