Clubhouse Media Group, Inc. Announces HoneyDrip.com Growth Results For January 2024

Rhea-AI Summary

Clubhouse Media Group, Inc. (CMGR) announced that its digital platform, HoneyDrip.com, has experienced significant month-over-month growth in January 2024. The platform, focused on empowering creators, saw increases in active performers, content posts for sale, active users, and applications from creators wishing to join. The company's manager expressed optimism for the platform's potential in 2024 and its ability to compete with similar platforms like Only Fans.

LOS ANGELES, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Clubhouse Media Group, Inc. (OTC: CMGR) ("CMGR"), a social media firm, today announced that HoneyDrip.com has seen month over month growth, continuing into January 2024. Honeydrip.com is a digital platform designed and wholly owned by CMGR with a focus on the empowerment of creators. The site allows creators to connect and engage with fans and monetize exclusive content.

HoneyDrip.com has experienced rapid growth in four main categories during the month of January 2024 alone:

1) Active performers on the site (by Invite Only) increased by 3%
2) Content posts (photos and videos) to be sold increased by 6%
3) Active users increased by 5%
4) Applications from creators wishing to join the site increased by 2%

"The new year hasn’t slowed us down one bit and our outlook is optimistic in 2024," said Alexandra Bolanos, Manager at HoneyDrip. "We have seen growth in all major categories month over month since the site was launched. There is incredible potential for the platform to accelerate to a new level and close the gap between us and our competitors, such as Only Fans."

Creators can apply to join at HoneyDrip.com

About Clubhouse Media Group, Inc.
CMGR offers management, production, and deal-making services to its handpicked influencers, a management division for individual influencer clients, and an investment arm for joint ventures and acquisitions for companies in the social media influencer space.

FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements". Forward-looking statements also may be included in other publicly available documents issued by CMGR and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.

Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause CMGR’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for CMGR’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K, which are available on the Securities and Exchange Commission’s website at sec.gov. We assume no obligation to update any forward-looking statements contained in this press release.

Contact:
Clubhouse Media Group, Inc.
media@clubhousemediagroup.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8809ab8e-3e99-46ac-818a-e23dcd8afdd3

FAQ

What is the ticker symbol for Clubhouse Media Group, Inc.?

The ticker symbol for Clubhouse Media Group, Inc. is CMGR.

What is HoneyDrip.com?

HoneyDrip.com is a digital platform owned by CMGR that focuses on empowering creators, allowing them to connect with fans and monetize exclusive content.

What were the main categories that experienced growth on HoneyDrip.com in January 2024?

The main categories that experienced growth on HoneyDrip.com in January 2024 were active performers (by Invite Only), content posts for sale, active users, and applications from creators wishing to join.

Who expressed optimism for the platform's potential in 2024?

Alexandra Bolanos, Manager at HoneyDrip, expressed optimism for the platform's potential in 2024.

How can creators apply to join HoneyDrip.com?

Creators can apply to join HoneyDrip.com by visiting the platform's website.