Rumble's Subscription Product 'Locals' Smashes Records & Exceeds $7.5 Million in Transaction Value for Q2

Rhea-AI Summary

Rumble's subscription platform, Locals, achieved record growth in Q2 2022, with unpaid members increasing by nearly 150% and paid supporters rising by 106% year-over-year. The platform's transaction value surpassed $7.5 million, representing over 400% growth compared to the same quarter in 2021. This surge is attributed to the ongoing integration with Rumble and the introduction of the Content+ feature, allowing creators to monetize individual content. This growth highlights a significant shift in media consumption towards independent creators.

Positive

• Unpaid members increased by nearly 150% year-over-year.
• Paid supporters rose by 106% compared to Q2 2021.
• Transaction value exceeded $7.5 million, over 400% growth year-over-year.
• Successful integration of Locals with Rumble enhances creator exposure.

Negative

• None.

Community-based subscription platform saw a record number of new members, paid supporters, and value of transactions in the second quarter of 2022

LONGBOAT KEY, Fla., Aug. 17, 2022 /PRNewswire/ -- Today, Rumble's community-based subscription platform, Locals, announced that its key performance metrics set new records in the second quarter of 2022.

Compared to the second quarter of 2021, Locals saw its number of unpaid members grow by nearly 150 percent and its number of paid supporters grew by 106 percent.  The total value of all transactions on the platform in the second quarter exceeded $7.5 million, more than 400 percent of the value of transactions on the platform during the same period last year. 

"Our explosive growth comes from the shift we are seeing in the media ecosystem where independent creators are starting to build their brand outside of traditional networks.  Our merger with Rumble is also helping our creators to reach a larger audience and grow their communities," said Assaf Lev, President of Locals.

A significant portion of the Locals growth can be attributed to the successful ongoing integration between Rumble and Locals and the deployment of the Content+ feature, which allows creators to sell access to movies and other content on an individual basis.

Locals merged with Rumble, a high-growth neutral video platform, in October 2021.  Rumble is creating the rails and independent infrastructure designed to be immune to cancel culture. Rumble's mission is to restore the Internet to its roots by making it free and open once again. Additionally, the company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI). See the announcement here: https://corp.rumble.com

View original content:https://www.prnewswire.com/news-releases/rumbles-subscription-product-locals-smashes-records--exceeds-7-5-million-in-transaction-value-for-q2--301607558.html

SOURCE Rumble

FAQ

What are the key metrics for Rumble's Locals platform in Q2 2022?

Locals reported a 150% increase in unpaid members, a 106% rise in paid supporters, and transaction values exceeding $7.5 million in Q2 2022.

How has the integration with Rumble affected Locals?

The integration has contributed significantly to Locals' growth by enhancing creator exposure and community building.

What is the Content+ feature on the Locals platform?

Content+ allows creators to sell access to movies and other content on an individual basis, boosting revenue opportunities.

How does Locals' Q2 2022 performance compare to Q2 2021?

In Q2 2022, Locals saw a 150% increase in unpaid members and over 400% growth in transaction value compared to Q2 2021.

What is CFVI's involvement with Rumble and Locals?

CF Acquisition Corp. VI (NASDAQ: CFVI) executed a business combination agreement with Rumble in December 2021.