NEW
YORK, July 14, 2022 /PRNewswire/ -- Creatd,
Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), a creator-first
holding company and the parent company of Vocal, today confirmed
its revenue guidance.
Commented Creatd's CEO Laurie
Weisberg, "Our Q2 results demonstrate 15% revenue growth
quarter-over-quarter, including a 134% revenue increase within
Creatd Ventures, our consumer product segment, despite ongoing
supply-chain disruptions. We maintained relatively consistent
revenues across our remaining business lines, despite facing the
headwinds caused by market conditions. We can confidently confirm
guidance of $7MM in revenues this year, before accounting for
additional opportunities that we expect our expansion
plan will unlock."
Second Quarter 2022 Business Highlights
- Creatd Ventures experienced its second consecutive quarter of
revenue growth, reaching several sales milestones across its
portfolio of health, wellness, and lifestyle brands,
including:
-
- Basis, the wellness brand that makes hydration mixes, is
expected to report nearly $400K in
sales in its first full quarter under Creatd Ventures. After its
launch on Amazon's Prime Day program, Basis generated record sales
with 0 marketing spend.
- Dune Glow Remedy, the Company's healthy beverage brand,
recently surpassed 100,000 bottles sold across both
brick-and-mortar wholesale and online marketplace distribution
channels.
- Camp, Creatd's owned-and-operated healthy food brand, has
expanded its online distribution channels, launching on Amazon and
crossing a sales milestone of 60,000 boxes sold.
- Creatd Ventures is currently in active discussions with DTC
brands for future potential acquisitions, with target profiles in
alignment with Creatd Ventures' existing portfolio.
- Creatd Labs continues to grow Vocal's traction across numerous
key performance metrics. Ongoing product enhancements continue to
further cement Vocal's position as a home base for creators looking
to share their content and get rewarded.
-
- Since shifting marketing focus from monthly to annual
subscriptions, Vocal plus membership has grown rapidly,
demonstrating a higher creator lifetime value.
- Since the introduction of the Comments feature in May of 2022,
there have been over 25,000 comments exchanged between creators and
their audiences on the platform. These interactions work to deepen
the engagement between creators and their audiences and enhance the
platform's overall social connectivity.
- The Company continues to advance its moderation practices and
integrate new technology partners—including the Microsoft-owned Two
Hat—in its ongoing effort to protect platform safety and ensure all
user-generated content on Vocal adheres to community
guidelines.
- Since Creatd's acquisition of the WHE Agency in Q2 of 2021, the
Company has continued to consolidate Creatd Partners' product
offerings and clients, allowing focus to shift towards maximizing
its sales efforts and higher-value brand deals. Creatd Partners has
expanded its relationships with key clients to include brands like
Universal Pictures, Nike, five CBD, Target, Alfa Romeo
- As previously announced, Creatd Studios is currently in
development of a slate of productions planned during 2022, and
continues to explore new potential production partners as well as
identify future transmedia production opportunities for Vocal's
creators. Creatd Studios' 2022 production slate includes the
release of Vocal's first-ever podcast, hosted by Erica Wagner, a print publication featuring a
selection of Vocal stories, graphic novel development and
production, the film adaptation of No One's Pet, and
more.
- The Company has continued its efforts to maximize the expected
value created through the proposed spin-off of the OG Collection,
Creatd's wholly-owned library of legacy media assets originating
from Bob Guccione's estate.
-
- The Company has assembled an advisory board to spearhead the
appraisal of the collection, and to uncover creative opportunities
embedded within it. The board comprises a number of highly skilled
archivists, curators, and researchers who will lead the curation,
cataloging, documentation, and research of the media assets.
- The OG Collection is not currently valued on the Company's
balance sheet based on purchase price accounting guidance, despite
its physical assets having been independently appraised at as much
as $10MM. Upon its completion, the spin-off should immediately
strengthen the Company's overall balance sheet.
- The OG Collection maintains a diversified Web 3.0 portfolio
including cryptocurrencies, NFTs, and Decentraland plots, the
majority of which were purchased in the last 30 days.
- The Company has announced its first-ever Investor
Day taking place on July 21st,
2022. The presentation will showcase the first look at the
Vocal mobile app for iOS, as well as provide updates on the
Company's strategic initiatives across all four business
pillars.
- Operating expenses are expected to remain relatively flat year
over year, prior to accounting for stock-based payments.
Additionally, marketing spend across all business lines continues
to decrease.
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a company with a mission to
provide economic opportunities to creators and brands by
multiplying the impact of platforms, people, and technology. The
Company has four main business segments, or 'pillars': Creatd Labs,
Creatd Partners, Creatd Ventures, and Creatd Studios. Each pillar
is characterized by a distinct revenue model, while operating on a
shared-services structure and audience insights collected through
our technology platforms. Creatd's pillars work together to create
a flywheel effect, supporting our core vision of creating a viable
and safe ecosystem for all stakeholders in the creator economy.
Creatd: https://creatd.com ;
Creatd IR: https://investors.creatd.com ;
Vocal Platform: https://vocal.media ;
Investor Relations Contact: ir@creatd.com
Forward-Looking
Statements
Any statements that are not historical facts and that express,
or involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance (often, but
not always, indicated through the use of words or phrases such as
"will likely result," "are expected to," "will continue," "is
anticipated," "estimated," "intends," "plans," "believes" and
"projects") may be forward-looking and may involve estimates and
uncertainties which could cause actual results to differ materially
from those expressed in the forward-looking statements. We caution
that the factors described herein could cause actual results to
differ materially from those expressed in any forward-looking
statements we make and that investors should not place undue
reliance on any such forward-looking statements. Further, any
forward-looking statement speaks only as of the date on which such
statement is made, and we undertake no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of anticipated or unanticipated events or circumstances.
New factors emerge from time to time, and it is not possible for us
to predict all of such factors. Further, we cannot assess the
impact of each such factor on our results of operations or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. This press release is qualified in its
entirety by the cautionary statements and risk factor disclosure
contained in our Securities and Exchange Commission filings.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/creatd-announces-record-revenues-for-q2-2022-and-expected-increase-of-15-qoq-to-1-6mm-while-maintaining-flat-operating-expenses-and-reduced-marketing-costs-company-on-pace-for-7mm-in-revenues-for-fy22--301586621.html
SOURCE Creatd, Inc.