BBTV Launches Fast Pay to Help Creators Accelerate Their Growth
BBTV Holdings has launched BBTV Fast Pay, a service that expedites monthly revenue share payments to creators from 45 days to 15 days, providing them with up-front capital for growth. Initially funded by a recent agreement with Spotter for up to US$125 million, of which $18 million has already been deployed, this service aims to enhance creator monetization. Additionally, BBTV is exploring cryptocurrency as a payment option, making it one of the first media companies to offer such a solution. This initiative is expected to boost gross profits and support creators in scaling their businesses.
- Launch of BBTV Fast Pay allows creators to access earnings faster, from 45 to 15 days, enabling growth.
- Service funded by an agreement with Spotter worth up to US$125 million, with $18 million already utilized.
- Exploration of cryptocurrency payment options positions BBTV as a pioneer in creator monetization.
- Dependence on creators' willingness to adopt Fast Pay; if uptake is low, benefits may not materialize.
- Risks associated with the broader adoption of cryptocurrency and regulatory challenges.
BBTV Fast Pay Expedites Monthly Revenue Share Payments and Provides Up-Front Capital for Growth
VANCOUVER, BC, Nov. 10, 2021 /PRNewswire/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (Frankfurt: 64V) ("BBTV" or the "Company"), the leading creator monetization company with a mission to help creators become more successful, today announces the launch of BBTV Fast Pay, a premium Base Solution that expedites monthly payments for creators, delivering fresh capital for them to use for growth.
- Following registration to BBTV Fast Pay, creators will receive their current and next month of earnings for their first pay period, providing up-front capital that can be used to invest in content creation and growth.
- BBTV Fast Pay is being offered at a competitive fee to help creators grow more quickly.
- This announcement comes on the heels of BBTV's recent deal with Spotter for up to US
$125 million with$18M deployed already, as the company develops new solutions to leverage BBTV's extensive library of content and scale to add incremental bolt-on revenue to the business. - The Company is also exploring Web3 payment solutions that would make cryptocurrency part of our daily interactions with content creators.
"We consider content creators to be entrepreneurs who need access to financial resources to grow their business and we are here to deliver. BBTV is a one-stop-shop for everything a creator needs to grow their views and revenues," commented Ben Groot, CFO, BBTV Holdings Inc. "We are hyper-focused on providing a comprehensive and innovative suite of solutions to help creators succeed. BBTV Fast Pay is an important enabler for creators to access their funds more quickly and accelerate their growth. This is also an important and growing facet of our Base Solutions, leveraging our existing library of content and scale to expand gross margins."
BBTV Fast Pay shortens the payment period from the current 45 days to 15 days following each month end for a competitive fee. Content creators who opt-in for BBTV Fast Pay start by receiving their current and next month of earnings at the same time and those funds can be leveraged to invest in more content and growth initiatives. A new premium addition to the Company's Base Solutions offering, BBTV Fast Pay represents incremental growth to BBTV Gross Profit and BBTV Share, which is a non-IFRS measure, defined as revenue less content creator and third-party platform fees.
In addition to BBTV Fast Pay, the Company is exploring the option for monthly payments to its creators to be paid in cryptocurrency. As early as this December, certain BBTV creators will have the option to receive their earnings as a selection of crypto currencies including BTC, ETH and USDC stablecoin instead of the US Dollars or other fiat currencies currently sent. To the Company's knowledge, BBTV is the first listed media company to offer this service to creators.
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com)
[1] | Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~ |
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information") which reflects the Company's current expectations regarding future events, including that BBTV Fast Pay is to help creators grow more quickly; the Company will leverage its existing library of content and scale to expand gross margins; that BBTV Fast Pay represents incremental growth to BBTV Gross Profit and BBTV Share; and that the Company will implement BBTV Fast Pay with its creators as early as this December. Forward-looking information is necessarily based on a number of estimates and assumptions that we considered appropriate and reasonable as of the date such information is given, including but not limited to our assumptions that the Company will be ready from an operations perspective to implement BBTV Fast Pay to its creators this December; the Company's creators will widely accept and register for BBTV Fast Pay and will use the early payments to grow their content; our industry will continue to experience positive changes, growths and trends; the Company will continue to have timely access to needed capital, and will continue to grow its creator base; the Company's technology will continue to perform and be expanded; and the BBTV Fast Pay program will be successful and will provide incremental growth to BBTV Gross Profit and BBTV Share. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that our assumptions on which our forward-looking information is based may not be accurate or be realized; the Company may not be able to continue to maintain financing or financial resources necessary for the BBTV Fast Pay program; currency exchange risk; the risk of changes in government regulation which may be adverse to the Company's business; the Company's need for timely performance by its creators and strategic partners; defects or disruptions in technology; the Company's significant reliance on its relationship with one digital platform; the effect of competition; litigation risk; that the Company has a history of losses and negative cash flow; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020, and in its Annual Information Form dated March 28, 2021 filed on sedar at www.sedar.com and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Non-IFRS Measure and Key Metric
This press release makes reference to "BBTV Share" which is a financial measure which is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS, and is therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, this measure should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. This press release also contains a reference to "views", which is a non-IFRS measure but is a key metric that helps us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Refer to the Company's MD&A presented as at November 10, 2021 under the heading "Non-IFRS Measures and Key Metrics" for more details, as well as a discussion on the limitations of these Non-IFRS Measures and Key Metrics.
For further information please contact:
Media Relations: pr@bbtv.com
Investor Relations: ir@bbtv.com
BBTV-C
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SOURCE BBTV Holdings Inc.
FAQ
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