NEW
YORK, Sept. 26, 2024 /CNW/ - MiMedia Holdings
Ltd. (TSXV: MIM) (OTCQB: MIMDF) (FSE: KH3)
("MiMedia", "Company") is pleased to provide an
update on its rollout in the US with partner and smartphone maker
Schok LLC ("Schok").
MiMedia CEO, Chris Giordano,
commented, "While early in the integrated smartphone deployment
with our partner Schok, we are pleased to report that MiMedia is
already seeing USD $12+ CPM rates for mobile advertising in our
numbers. Maintaining this level of mobile advertising CPMs and
delivering on the contracted number of integrated devices of
5M over two years, we believe can
result in a USD $125M+ gross revenue opportunity from this
partnership alone." (Note: CPMs represent the cost per
thousand mobile ad impressions delivered, a metric that advertisers
use to pay networks that publish or show their ads).
Mr. Giordano continued, "We are excited about this data, as it
is in-line with our expectations for the US mobile advertising
market. However, we are encouraged to see these results so
early in our rollout with Schok. We believe this data speaks
to the strength of mobile advertising in the US market and
MiMedia's unique capability to capture that market within our
consumer cloud platform. We expect CPMs in the US to climb
even further for the Company, as we project Schok device volume to
pick up in Q4 and head into a strong 2025.
Founded in 2018 and headquartered in Frisco, Texas, Schok is a pioneer in the
smartphone industry with a mission to redefine the market for
entry-level smartphones. Their smartphones are designed to
offer exceptional quality, modern design, state-of-the-art software
and robust performance capabilities at competitive prices,
providing consumers with high-quality alternatives to the more
costly options currently available.
MiMedia is a next generation consumer cloud platform that
partners with smartphone makers and telecom carriers globally to
provide their consumers with a unique personal cloud experience
that enables all types of personal media to be secured in the
cloud, accessed seamlessly, across all devices and operating
systems and at any time. MiMedia's consumer cloud platform
will provide Shock with a churn-reducing product, deliver immediate
market differentiation and enable multiple high-margin and
recurring revenue streams.
As part of the multi-year Agreement, MiMedia will integrate its
platform directly onto 5 million mobile devices over the next 24
months, including smartphones and tablets. As noted in a
previous press release, integration and deployment of Schok
smartphones with MiMedia integrated has already started in the
US.
About Schok LLC: Schok, LLC is dedicated
to creating innovative, high-quality smartphones that are
accessible to everyone. By combining advanced technology with
competitive pricing, Schok is set to redefine the standards of the
smartphone industry.
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