TORONTO, LOS ANGELES, and MUMBAI, India, March 1,
2021 /CNW/ - QYOU Media Inc. (TSXV: QYOU) (OTCQB:
QYOUF), a company operating in India and the United
States producing and distributing content created by social
media stars and digital content creators, has reported financial
results for the second quarter of Q2 fiscal year 2021 ended
December 31, 2020.
Impact of COVID-19: As previously reported by the company
on June 1, 2020 and on October 28, 2020, the business in both
India and the United States experienced material
negative impact due to the loss of contracts and revenue caused by
the COVID-19 pandemic from early March thru to the end of September
(Q1 FY 2021). Results for Q2 FY 2021 continued to experience
some negative impact from COVID-19.
For the three months ending December 31,
2020, revenue was $968,139 up
148% as compared to $390,950 in FY Q1
2021 and down 2% from $986,341 for
the three months ended December 31,
2019. Net loss was $518,578 for
the 3 months ending December 31, 2020
representing a decrease of 55% as compared to a net loss of
$1,149,333 in FY Q1 2021 and a
decrease of 73% from $1,944,944 for
the three months ended December 31,
2019.
QYOU Media, via its Q India subsidiary has continued to
experience rapid growth in 2021 in ratings, distribution and
revenues. Highlights include:
- Ratings: On February 12,
2021 The Q India hit a new ratings high of 4.4 GRP (Gross
Rating Points) continuing its climb as the fastest growing youth
channel in India.
https://www.newswire.ca/news-releases/q-india-hits-new-viewership-record-803849035.html
- Distribution: On March 1,
2021 the company announced it secured a distribution
agreement with DD Free Dish, nearly doubling its current TV
household reach to 88 Million TV households (now reaching over 700
Million homes and devices)
https://www.newswire.ca/fr/news-releases/q-india-adds-38-million-new-tv-homes-885846114.html
- Revenue: On January 21,
2021 the company announced new ad insertion orders totalling
$200K with premium advertisers
including: Airtel, Reckitt Benkiser, Britannia and SBS Biotech.
https://www.newswire.ca/news-releases/q-india-onboards-ad-partners-894866090.html
In addition the company recently completed fully subscribed
bought deal financing for $11.5
million including the over allotment led by investment banks
Clarus Securities, Canaccord Genuity and Gravitas Securities.
https://www.wildlaw.ca/transactions/2021/qyou-media-inc-completes-$11-million-bought-deal-financing/
Curt Marvis, Co-Founder and CEO
of QYOU Media commented, "We are delighted with our growth in
2021 across all key metrics. After three years of solid work
and investment the company is now positioned in India to grow revenue and brand recognition in
a meaningful way. We continue to believe this is only the beginning
of a much steeper growth trajectory for our business in the second
half of the year."
The Q India is an advertiser and influencer
marketing supported Hindi language content brand, channel and VOD
provider delivering hit digital programming from social media stars
and leading digital video creators targeting Young Indian
audiences. The channel has recently become one of
India's fastest growing youth
entertainment brands reaching 4.4 Gross Rating Points(GRP) on BARC
(Broadcast Audience Research Council) in February 2021. With a growing library of over 850
programs, and beginning in April with the addition of DD Free Dish,
the channel will reach an audience of 700 million via 88 million
television homes with partners including TATA Sky, Airtel DTH,
SitiNetworks and DD Free Dish; 380 million OTT users via platforms
including ShemarooMe, MX Player, ZEE5, and Dish Watcho; and 232
million users on mobile and digital platforms including Snap,
JioTV, Airtel Xstream, Amazon Fire TV and Chingari.
The company also announced that on June
5, 2017, Curt Marvis, the
Chief Executive Officer of the Company, issued a promissory note to
and in favour of the Company, evidencing a loan by the Company to
Mr. Marvis in the original principal amount of US$150,000. The Note bears interest at a rate of
three percent per annum. Subject to the approval of the TSX Venture
Exchange, the Board of Directors and Mr. Marvis agreed that if Mr.
Marvis still held the position of an executive of the Company as at
January 31, 2021, the obligations
outstanding under the Note as at such date would be forgiven. As
Mr. Marvis remained Chief Executive Officer of the Company on
January 31, 2021, the Note has been
cancelled, subject to the approval of the TSX Venture Exchange. In
addition the company has filed for the issuance of 4.4M options (exercisable at $.30 per share) and 8.8M RSU grants to certain executives and board
members under the vesting terms of the respective plans.
About QYOU Media
QYOU Media operates in India
and the United States producing
and distributing content created by social media stars and digital
content creators. In India, we
curate, produce and distribute premium content including television
networks and VOD for cable and satellite television, OTT and mobile
platforms. In the United States,
we manage influencer marketing campaigns for major film studios and
brands. Founded and created by industry veterans from Lionsgate,
MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused
content reaches more than 700 million consumers around the
world. Experience our work at www.qyoumedia.com and
www.theq.tv
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
future plans and anticipated results, the strengthening of the
Company's position and revenue in India, growth in the influencer marketing
segments of the Company's business, and new strategic partnerships.
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.