NEW
YORK, Feb. 29, 2024 /CNW/ - Writing from Mobile
World Congress in Barcelona where
we attended the most relevant conference for our
industry, MiMedia Holdings Ltd. (TSXV: MIM)
("MiMedia", "Company") would like to provide this
corporate update on the state of the business and the progress made
over the last six months.
- Beginning in Q4 2023, we have now integrated with several of
our partners onto hundreds of thousands of smartphones and tablets
already shipped to stores in multiple countries or that soon will
be shipped to stores in more countries over the next two
quarters.
- Integration onto these devices has been quick and seamless on
the MiMedia side, with no complications.
- We await the sell-through of these devices to consumers at
retail stores or online.
- By nature of the way MiMedia integrates onto these devices,
consumers become users of MiMedia's platform on Day #1 of device
purchase, after which MiMedia can deploy multiple revenue streams,
including storage subscriptions and mobile advertising, immediately
or at any time thereafter.
- We are also pleased to report that MiMedia's OEM partner Orbic
showcased, at the CES and Mobile World Congress conferences this
quarter, nine (9) new smartphone and tablet devices to be launched
this year globally in Australia,
APAC, India and North America regions. Initial launch of these
devices is expected to start in Q2 2024, whereby MiMedia will be
integrated onto all new devices. Volumes for these devices are not
public but MiMedia is thrilled to be part of these launches and the
strong growth expected by Orbic for 2024.
- We are working on integration with other contracted partners
and plan to be in-market with them in the next two quarters.
- MiMedia is also scheduled for a deployment next week to
30K smartphones in the field that
either consumers own and use today or reside at stores for
purchase. Representing a significant technical achievement for the
Company, this new deployment approach features the same depth or
level of integration that the Company achieves when integrating
onto new smartphones as the devices are being built. As such, this
integration capability dramatically widens MiMedia's addressable
field of devices for integration and quickens the time to conduct
and deploy an integration. While MiMedia previously conducted
successful smaller tests of this new deployment capability, this
soon and upcoming deployment will represent our biggest to
date.
- The Company is currently planning and working on larger
deployments of this type in the coming weeks with several of our
partners.
- With sell-through of new devices expected to pick-up in Q2 via
targeted marketing campaigns as well as continued deployment
campaigns to existing devices already in field, engagement metrics
have started to build this quarter and will further build and
create a foundation of engaged users to which MiMedia can offer and
apply its revenue streams of storage subscriptions and mobile
advertising.
- With regards to our business development pipeline, MiMedia is
quickly progressing toward signing contracts with several large and
established smartphone device and telcos prospective partners in
the Americas.
- The Company's attendance at the CES conference in Las Vegas and the current Mobile World
Congress in Barcelona in Q1 has
added a number of leads into our partner pipeline. Management
expects to convert these leads to several new signed partnerships
that will meaningfully impact our trajectory of devices contracted
to deploy with MiMedia this year. As a reminder, the Company has
been contracted to deploy on 31M
devices with its signed partnerships over the next 22 months.
- Now that the traditional industry slow season bridging Q4 and
Q1 is coming to an end, management expects the continuation and
deepening of the traction and progress made over the last six
months, especially given our expanding pipeline.
- The Company looks forward to keeping the market informed of
this progress as we position the business for an exciting and
breakout year in CY 2024.
About MiMedia: MiMedia Holdings Inc
provides a next-generation consumer cloud platform that enables all
types of personal media to be secured in the cloud, accessed
seamlessly at any time, across all devices and on all operating
systems. The company's platform differentiates with its rich media
experience, robust organization tools, private sharing capabilities
and features that drive content re-engagement. MiMedia partners
with smartphone makers and telecom carriers globally and provides
its partners with recurring revenue streams, improved customer
retention and market differentiation. The platform services
millions of engaged users around the world.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding MiMedia,
and their respective businesses, which may include, but is not
limited to, statements with respect to the completion of a
Transaction, appointment or any other decision made by the
business. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "is expected",
"expects", "scheduled", "intends", "contemplates", "anticipates",
"believes", "proposes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Such statements are based on
the current expectations of the management of MiMedia. The
for-ward-looking events and circumstances discussed in this
release, may not occur by certain specified dates or at all and
could differ materially as a result of known and unknown risk
factors and uncertainties affecting the companies, including risks
regarding the MiMedia industry, failure to obtain regulatory or
shareholder approvals, economic factors, the equity markets
generally and risks associated with growth and competition.
Although MiMedia have attempted to identify important factors that
could cause actual actions, events, or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events, or results to differ from
those anticipated, estimated or intended. No forward-looking
statement can be guaranteed. Except as required by applicable
securities laws, forward-looking statements speak only as of the
date on which they are made and MiMedia undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
SOURCE MiMedia