Vertiqal Studios Outperforms Q1-Q3 OTT Revenue Projections

Rhea-AI Summary

Vertiqal Studios Corp. reports consistent growth in monthly recurring revenues derived from Over The Top (OTT) shows throughout the first three quarters of 2023.

Positive

• The company's monthly recurring revenues from OTT shows have consistently exceeded expectations.
• The Q3 financials show a 7.5% increase in revenues compared to Q2.
• The OTT gross margin stands at approximately 83.61%.
• Vertiqal Studios plans to expand its portfolio with over 40 new shows.
• The company's success is attributed to its relationships with creators and its data-fueled approach.

Negative

• None.

TORONTO, ON / ACCESSWIRE / October 23, 2023 / Vertiqal Studios Corp. (TSX:VRTS)(OTCQB:GAMGF)(FRA:P93) (the "Company" or "Vertiqal"), a leading digital media, entertainment, production, and distribution company, is pleased to report consistent growth in monthly recurring revenues derived from Over The Top (OTT) shows throughout the first three quarters of 2023.

	USD	CAD	Performance Above Forecast %
Q1	$456,783.71	$621,629.91	13%
Q2	$700,054.58	$942,377.35	40%
Q3[1]	$726,246.71	$ 979,170.78	7.5%
Totals	$ 1,883,085	$ 2,543,178.04

*With all the current costs accounted for, the OTT gross margin stands at approximately 83.61%. It is important to note that this figure is based on unreviewed Q3 financials, which are still in process.

Vertiqal Studios is dedicated to delivering diverse content on its OTT channels. The company currently offers over 50 engaging shows, and there are plans to expand this portfolio with more than 40 more. This expansion aligns seamlessly with the company's growth in viewership, showcasing its commitment to providing compelling content spanning various topics.

"Our success with monetized content comes down to two key pillars: our relationships with creators and our data-fuelled approach. We've been lucky to have had the opportunity to partner with some of the top creators and agencies across North America to build fantastic catalogues and really put some fire behind our efforts across all platforms," says Jack Opshal, VP, Platform Monetization, Vertiqal Studios.

"Congratulations to our content monetization team for their exceptional performance, surpassing our expectations," says Jon Dwyer, CEO, Vertiqal Studios. "At Vertiqal Studios, we are committed to organic channel growth and strategic acquisitions. OTT platforms provide us a revenue base derived from our ability to produce video at scale across our 66 channels. Having an army of editors and producers allows us to take on new channels monthly, and continue growing our owned & and operated channels. Our dedication to delivering value to our loyal shareholders and stakeholders is unwavering, with our primary focus being revenue growth and growing profitability in the US, where a majority of our audience resides. Please note this constitutes only our OTT revenue and does not account for the balance of our growing direct media business."

These achievements underscore the company's commitment to delivering engaging content to a broad and ever-expanding audience. Vertiqal Studios anticipates further milestones in the upcoming quarters as it continues to pioneer innovation within the digital media landscape.

About Vertiqal Studios

Vertiqal Studios Corp. is an owned-and-operated digital-channel network and video-production studio. Specializing in the creation of endemic short-form vertical video content for social platforms, Vertiqal produces and distributes 100+ videos daily across 66 owned-and-operated channels, utilizing TV economics to monetize TikTok and Instagram, and revenue-share with OTT platforms such as Snapchat. Vertiqal's strategic focus is producing high-performing organic (not paid) video across our channels in order to continue building our audience of over 43 million followers and subscribers, who generate over 2 billion monthly video views. With a growing owned-and-operated network, Vertiqal cultivates scalable marketing concepts with brands, agencies, and creators, to build full production + distribution brand campaigns for the largest brands in North America, the UK, and Australia on TikTok, Snapchat, and Instagram.

With advanced user data analytics, Vertiqal provides its audience with content relevant to the Gen Z and Millennial respective communities. Vertiqal owns the largest gaming media inventory on TikTok and monetizes across its Snapchat Discover channels in partnership with Snapchat.

Visit us at https://vertiqalstudios.com/ to join our email subscribers list and receive press releases and newsletters directly to your inbox.

Contact:

Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Email: ir@vertiqalstudiosl.com
IR Email: info@vertiqalstudios.com

Forward-Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

^[1] Q3 is estimated in CAD as numbers are still to be reviewed and is subject to any changes in foreign exchange.

SOURCE: Vertiqal Studios Corp.

View source version on accesswire.com:
https://www.accesswire.com/795079/vertiqal-studios-outperforms-q1-q3-ott-revenue-projections

FAQ

What is the revenue growth of Vertiqal Studios from OTT shows?

Vertiqal Studios has reported consistent growth in monthly recurring revenues derived from Over The Top (OTT) shows throughout the first three quarters of 2023.

How much is the OTT gross margin for Vertiqal Studios?

The OTT gross margin for Vertiqal Studios stands at approximately 83.61%.

How many new shows does Vertiqal Studios plan to add to its portfolio?

Vertiqal Studios plans to expand its portfolio with over 40 new shows.

What factors contribute to Vertiqal Studios' success?

Vertiqal Studios attributes its success to its relationships with creators and its data-fueled approach.