Clubhouse Media Group, Inc. Announces HoneyDrip.com Growth Results For October 2022

Rhea-AI Summary

Clubhouse Media Group (CMGR) announced strong growth for its platform HoneyDrip.com in October 2022. The platform, which empowers creators to engage with fans and monetize content, saw a 10% increase in active performers, a 14% rise in content posts, a 9% uptick in active users, and a 4% growth in applications from new creators. General Manager Danche Prokopov expressed satisfaction with these results, indicating a narrowing competitive gap. This growth highlights HoneyDrip's potential as a key player in the influencer economy.

Positive

• Active performers increased by 10% in October 2022.
• Content posts available for sale rose by 14%.
• Active users grew by 9% during the same month.
• Applications from new creators increased by 4%.

Negative

• None.

LOS ANGELES, Nov. 2, 2022 /PRNewswire/ -- Clubhouse Media Group, Inc. (OTCMKTS: CMGR) ("CMGR"), an influencer-based social media firm and digital talent management agency, today announced that HoneyDrip.com has seen month over month growth, continuing into October 2022. 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 October 2022 alone: 

1. Active performers on the site (by Invite Only) increased by 10%
2. Content posts (photos and videos) to be sold increased by 14%
3. Active users increased by 9%
4. Applications from creators wishing to join the site increased by 4%

"We've just ended another great month of continued growth" said Danche Prokopov, General Manager of HoneyDrip.com. "I'm very pleased that we can exceed expectations time and time again. As the site grows steadily, we are witnessing a constant narrowing of the gap between HoneyDrip and competitive platforms."

Creators can apply via email to join@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

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SOURCE Clubhouse Media Group, Inc.

FAQ

What growth did HoneyDrip.com achieve in October 2022?

HoneyDrip.com saw a 10% increase in active performers, a 14% rise in content posts, a 9% uptick in active users, and a 4% growth in new creator applications.

How does Clubhouse Media Group (CMGR) support creators?

CMGR empowers creators through HoneyDrip.com, allowing them to connect with fans and monetize exclusive content.

What did Danche Prokopov say about the growth of HoneyDrip.com?

Danche Prokopov, General Manager, expressed pleasure in exceeding expectations and noted a narrowing of the competitive gap.