Clubhouse Media President Chris Young Featured in Exclusive Benzinga Interview

Rhea-AI Summary

Clubhouse Media Co-Founder Chris Young shared insights on the company's origins and growth strategies in a recent interview. The influencer marketing firm, with a social media reach exceeding 400 million followers, gained momentum during the global pandemic, benefiting from increased social media usage. Young emphasized acquisition as a key growth driver and the potential for higher profit margins through in-house brand development. He also indicated plans to expand influencer houses and adapt a hotel-like model. As the ad industry increasingly favors influencer marketing, Clubhouse Media is positioned for significant growth.

Positive

• Clubhouse Media has a global social media reach of over 400 million followers.
• The company experienced rapid growth due to increased social media engagement during the pandemic.
• Young highlighted acquisitions as a critical strategy for future growth.
• Potential for higher profit margins through the development of in-house brands.
• Plans to expand influencer houses and adopt a hotel-like model suggest strategic growth.

Negative

• None.

Clubhouse Media Co-Founder Discusses Company Origins, Business Model, and Strategic Path Ahead

LOS ANGELES, Aug. 05, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Clubhouse Media Group, Inc. (OTCMKTS: CMGR) (“Clubhouse Media” or the “Company”), an influencer-based marketing and media firm with a total aggregate global social media reach of more than 400 million followers, is pleased to announce that the Company’s President and Co-founder Chris Young was featured in an exclusive interview with Michael Murray, Director of Digital Growth at Benzinga.

The full interview can be found here.

Interview Highlights

In the interview, Young discussed how Clubhouse Media got started, including his time as a talent agent, entertainment lawyer, and YouTube influencer. He notes that the Company began on the premise that collaboration and cohabitation among popular social media influencers held the potential to drive enormous synergistic value.

Young also discussed how the global healthcare pandemic crisis helped to accelerate Clubhouse Media’s rapid rise in 2020 and early 2021 as time spent on social media ballooned around the world. During this period, the Company also benefitted from frequent organic coverage in major media outlets, with feature stories appearing in The New York Times, The Atlantic, Business Insider, Cosmo, Seventeen, and Forbes, which helped to drive significant scaling in 2021.

In the interview, Young also talked about the role acquisitions play as a key driver of strategic growth as the Company looks for targets that present strong synergies. Clubhouse Media has an in-house talent agency. It has acquired, and seeks to acquire, key software elements. The Company’s longer-term vision is to acquire or develop in-house brands that carry the potential to drive growth and significantly strengthen margins over time.

“Our ultimate goal is to own a lot of those brands, internally, so that we can drive a higher bottom-line and build … a brand that could revolve around our influencers,” Young told Benzinga.

As to the near-term future, Young noted that the Company would likely add more influencer houses to its roster, and potentially move to a hotel “Soho House” model for influencers.

He also said he believes the ad industry is evolving toward increasing reliance on social media influencers, providing a natural tailwind for the Company given its positioning in the influencer space.

About Clubhouse Media

We believe Clubhouse Media represents the future of influencer media and marketing, with a global network of professionally run content houses, each of which has its own brand, influencer cohort and production capabilities. Clubhouse Media 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. Clubhouse Media’s management team consists of successful entrepreneurs with financial, legal, marketing, and digital content creation expertise.

Please follow us on Twitter: twitter.com/ClubhouseCMGR?s=20

FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements". Forward-looking statements also may be included in other publicly available documents issued by Clubhouse Media 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 Clubhouse Media’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 Clubhouse Media’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.

Corporate Contact

Simon Yu, MBA

Phone: +1-702-479-3016

Investor Relations
Tiger Marketing & Branding Agency
info@TigerGMP.com

Wire Service Contact
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
Editor@InvestorWire.com

FAQ

What insights did Chris Young provide about Clubhouse Media's growth?

Chris Young discussed the company's origins, pandemic-driven growth, and strategic focus on acquisitions to enhance profitability.

How does Clubhouse Media plan to drive future growth?

The company aims to drive growth through acquisitions of strong synergies and developing in-house brands.

What is the social media reach of Clubhouse Media?

Clubhouse Media boasts a global social media reach exceeding 400 million followers.

How has the pandemic impacted Clubhouse Media's business?

The pandemic significantly increased social media usage, accelerating Clubhouse Media's growth in 2020 and early 2021.

What is Clubhouse Media's strategic vision for influencer marketing?

The company aims to establish a network of influencer houses and adapt a model similar to 'Soho House' for influencers.