BBTV wins one of its largest customers to date and adds a significant library of video assets to its managed portfolio
VANCOUVER, BC, June 1, 2023 /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 announced it has signed a Content Management deal with a top 5 global film studio.
- Management expects the client to be among the largest of BBTV's growing Content Management portfolio as it relates to revenue, based on the client's significant video library.
- The deal follows the Company's announcement in Q1 2023 of a top multinational entertainment and record label conglomerate, the largest in Content Management signed to date.
- BBTV continues to successfully convert the largest Content Management pipeline in the Company's history as it executes its strategic realignment around Plus Solutions, which drive significantly higher margins than the Company's Base Solutions business.
"There is a significant need in the world of entertainment across multiple key verticals to connect with the digital generation, and the results speak for themselves as we make more progress on our extensive deal pipeline," comments Lewis Ball, Chief Strategy Officer, BBTV. "We're proud to be providing our solutions to more than 20 of the world's largest media companies, including Entertainment, Music, Sports and more, helping them to grow and engage an audience community that's impossible to reach anywhere else. We're excited to ramp this one up over the coming quarters."
Content Management is an important part of the Company's Plus Solutions business and represents a significant portion of the segment revenue, which surpassed $50 million in 2022. Plus Solutions revenue is expected to grow by 30% again in 2023 and is a key revenue stream for BBTV's accelerated path to profitability.
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 December 2022, BBTV had the fourth most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 35 billion minutes of video content [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = December 2022 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.
Links to SEDAR filings, conference call recordings and press releases are available on the investor website at: https://investors.bbtv.com/
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"). Forward-looking information is not information about historical facts but instead represents the Company's intentions, beliefs, plans, goals, objectives and strategies regarding future events and results. Forward-looking information contained in this press release includes statements that the Company's Management expects the client to be among the largest of BBTV's growing Content Management portfolio as it relates to revenue, based on the client's significant video library; Plus Solutions revenue is expected to grow by 30% again in 2023 and is a key revenue stream for BBTV's accelerated path to profitability; BBTV continues to successfully convert the largest Content Management pipeline in the Company's history as it executes its strategic realignment around Plus Solutions; the Company is helping the client to grow and engage an audience community that's impossible to reach anywhere else; and that the Company will ramp this one up over the coming quarters. Forward-looking information is necessarily based on a number of estimates and assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the Company's assumptions that its Content Management Solutions will continue to be attractive to existing and potential clients and the Company will continue to acquire new customers for its Content Management services and to retain existing customers; industry growth trends in views and RPMs will improve; there will be no changes in general industry, market and economic conditions adverse to the Company; the Company will successfully help the client grow and engage an audience community; the Company will continue to receive higher margin revenue from its Content Management services; that the Plus Solutions revenue will grow as expected in 2023l and that the Company will realize an accelerated path to profitability. 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 the Company's assumptions on which its forward-looking information is based may not be accurate; the effect of competition; the Company's agreements with its strategic partners, creators and customers may terminate early or not be renewed either on similar terms or at all; the Company's Content Management Solutions may not continue to be attractive to clients and may not continue to grow; the Company's significant reliance on its relationship with one digital platform; the Company has a history of losses and negative cash flow; the Company's need for additional capital; 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 31, 2023 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.
For further information please contact:
Media Relations: pr@bbtv.com
Investor Relations: ir@bbtv.com
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SOURCE BBTV Holdings Inc.
