Engine Media Announces Extension and Expansion of Newsweek Agreement
Engine Media Holdings announced an extension of its advertising representation agreement with Newsweek, enhancing its programmatic advertising capabilities. The agreement extends Frankly Media's access to Newsweek's mobile and digital platforms, reaching over 100 million unique viewers monthly. Engine Media aims to develop content for gamers and tech-savvy consumers. Notably, Frankly Media will receive increased commissions and make advance revenue share payments totaling US$6 million. This agreement reinforces Engine Media's strategy to connect brands with consumers via multiple platforms.
- Extension of advertising representation agreement with Newsweek enhances programmatic capabilities.
- Increased access to Newsweek's mobile and digital platforms, reaching over 100 million unique viewers monthly.
- Focus on developing content for gamers and tech-savvy consumers strengthens market positioning.
- Frankly Media to receive increased commissions under the new agreement.
- Advance revenue share payments totaling US$6 million could strain cash flow.
Multi-year Advertising Representation Agreement Cements Frankly Media's Programmatic Advertising Capabilities
Extends Newsweek's Ability to Connect Leading Brands with Consumers across Platforms
Engine Media and Newsweek to Pursue Content Creation for Gamers and Tech Savvy Consumers
TORONTO, Feb. 15, 2021 /PRNewswire/ -- Engine Media Holdings, Inc.. (TSXV: GAME; OTCQB: MLLLF) ("Engine Media" or the "Company") announced today that its Frankly Media subsidiary, a programmatic advertising provider for the mobile and digital platforms of television and radio stations, has entered into an extension of its advertising representation agreement with the publisher of Newsweek.
For decades, Newsweek has been a provider of quality journalism with news and information that reach millions of Americans and people around the globe. Today, with its increased mobile and digital presence, Newsweek reaches more than 100 million unique viewers a month including more than one in five Americans.
"Newsweek is a powerful brand with real credibility with consumers of news and information," said Tom Rogers, Executive Chairman of Engine Media. "We are really pleased to have reached this agreement putting in place another important cornerstone of our programmatic advertising capability. And while being able to offer brands access to Newsweek's mobile and digital sites is important, we are equally excited to pursue further establishing Newsweek's presence as a provider of content for gamers and the tech savvy consumer, which furthers our Engine Media gaming business."
The agreement is fundamental to the overall Frankly Media strategy of establishing a powerful technology platform that provides access to programmatic advertising capabilities, enabling leading marketers and brands to access consumers on the mobile and digital platforms of more 1,200 national and local television and radio stations as well as digital news publishers including Newsweek.
"We are pleased to have had the opportunity to extend and expand our relationship with a premiere publisher like Newsweek," remarked Engine Media CEO, Lou Schwartz, "and look forward to working closely with them to pursue innovative content creation and distribution channels for gamers and tech savvy consumers, amongst other opportunities."
Among the terms of the agreement beyond the extension of the term, Franky Media will receive an increase in its commission, while agreeing to make a series of advance revenue share payments totaling US
About Engine Media Holdings, Inc.
Engine Media is focused on accelerating new, live, immersive esports and interactive gaming experiences for consumers through its partnerships with traditional and emerging media companies. The company was formed through the combination of Torque Esports Corp., Frankly Inc., and WinView, Inc. and trades publicly under the ticker symbol (TSX-V: GAME) (OTCQB: MLLLF). Engine Media will generate revenue through a combination of: direct-to-consumer and subscription fees; streaming technology and data SaaS-based offerings; programmatic advertising and sponsorships; as well as intellectual property licensing fees. To date, the combined companies clients have included more than 1,200 television, print and radio brands including CNN, ESPN, Discovery / Eurosport, Fox, Vice, Newsweek and Cumulus; dozens of gaming and technology companies including EA, Activision, Blizzard, Take2Interactive, Microsoft, Google, Twitch and Ubisoft; and have connectivity into hundreds of millions of homes around the world through their content, distribution and technology.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine Media to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
The forward-looking statements and information in this press release include, financial, operational and other projections and outlooks, expectations regarding the Company's agreement with Newsweek and the benefits to accrue thereunder. Such statements and information reflect the current view of Engine Media. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Engine Media's actual results, performance or achievements or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include: expectations regarding existing products and plans to develop, implement or adopt new technology or products; expectations regarding the successful integration of recent acquisitions of WinView, Inc. and Frankly Inc.; the expectation of obtaining new customers for the Company's products and services; requirements for additional capital and future financing options; the completion of and our use of the proceeds of the Offering; and, those factors discussed in the Company's continuous disclosure documents filed with the Canadian Securities Administrators, which may be viewed at www.sedar.com.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Engine Media cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Engine Media has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Engine Media as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Engine Media may elect to do so, Engine Media does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Engine Media Holdings, Inc.
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