Clubhouse Media Group, Inc. Announces HoneyDrip.com Robust April 2022 Results

Rhea-AI Summary

Clubhouse Media Group (CMGR) reported significant month-over-month growth for its platform HoneyDrip.com in April 2022. Key metrics include a 23% increase in active users, 19% rise in content posts, a 17% growth in active performers, and a 13% boost in creator applications. Management aims to narrow the gap with competitors like OnlyFans through ongoing enhancements. The platform focuses on empowering creators to engage with fans and monetize exclusive content, supporting the company's digital talent management strategy.

Positive

• 23% increase in active users on HoneyDrip.com.
• 19% increase in content posts for sale.
• 17% growth in active performers on the platform.
• 13% rise in applications from new creators.

Negative

• None.

LOS ANGELES, May 3, 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 April 2022. Honeydrip.com is a new digital platform designed and 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 April 2022: 

1. Active users increased by 23%
2. Content posts (photos and videos) to be sold increased by 19%
3. Active performers on the site (by Invite Only) increased by 17%
4. Applications from creators wishing to join the site increased by 13%

"HoneyDrip.com is continuing to grow at a great pace", said Danche Prokopov, General Manager of HoneyDrip.com. "We are taking advantage of the opportunity to narrow the gap between us and OnlyFans.  As we continue enhancing the site, it accelerates the growth."

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.

Follow CMGR on Twitter: https://twitter.com/ClubhouseCMGR

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 assume no obligation to update any forward-looking statements contained in this press release.

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SOURCE Clubhouse Media Group, Inc.

FAQ

What were the April 2022 growth metrics for HoneyDrip.com?

HoneyDrip.com experienced a 23% increase in active users, 19% rise in content posts, 17% growth in active performers, and a 13% boost in creator applications.

How does HoneyDrip.com compare to OnlyFans?

CMGR aims to close the gap between HoneyDrip.com and OnlyFans by enhancing the platform and increasing creator engagement.

What is Clubhouse Media Group's stock symbol?

The stock symbol for Clubhouse Media Group is CMGR.

What services does Clubhouse Media Group provide?

CMGR offers management and production services for influencers and ventures in the social media influencer space.