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MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

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Mega Matrix Corp. (NYSE American: MPU) announced its Q2 2024 financial results, highlighting significant growth in its FlexTV platform. Key points include:

- User recharge totaled $15.8 million in H1 2024, with 62% from the U.S.
- Total active users reached 4.1 million, with 0.5 million paying users
- Unaudited H1 2024 revenue of $15.6 million, including $14.3 million from streaming services
- Gross profit of $9.4 million with a 60% margin
- Successful private placements totaling $5.2 million

FlexTV has gained traction globally, ranking in the top 10 Free Entertainment Apps in various countries. The company is focusing on expanding its content library and enhancing user engagement to maintain its market position.

La Mega Matrix Corp. (NYSE American: MPU) ha annunciato i risultati finanziari del secondo trimestre 2024, evidenziando una crescita significativa della sua piattaforma FlexTV. Punti chiave includono:

- Le ricariche degli utenti hanno totalizzato 15,8 milioni di dollari nel primo semestre 2024, con il 62% proveniente dagli Stati Uniti.
- Gli utenti attivi totali hanno raggiunto 4,1 milioni, con 0,5 milioni di utenti paganti.
- Entrate non verificate del primo semestre 2024 di 15,6 milioni di dollari, di cui 14,3 milioni dai servizi di streaming.
- Profitto lordo di 9,4 milioni di dollari con un margine del 60%.
- Collocamenti privati di successo per un totale di 5,2 milioni di dollari.

FlexTV ha guadagnato terreno a livello globale, posizionandosi tra le prime 10 app di intrattenimento gratuite in vari paesi. L'azienda si sta concentrando sull'espansione della sua libreria di contenuti e sul miglioramento del coinvolgimento degli utenti per mantenere la sua posizione di mercato.

Mega Matrix Corp. (NYSE American: MPU) anunció sus resultados financieros del segundo trimestre de 2024, destacando un crecimiento significativo en su plataforma FlexTV. Los puntos clave incluyen:

- Las recargas de usuarios totalizaron 15,8 millones de dólares en la primera mitad de 2024, con un 62% proveniente de EE. UU.
- El número total de usuarios activos alcanzó los 4,1 millones, con 0,5 millones de usuarios de pago.
- Ingresos no auditados de 15,6 millones de dólares en la primera mitad de 2024, incluyendo 14,3 millones de dólares de servicios de streaming.
- Ganancia bruta de 9,4 millones de dólares con un margen del 60%.
- Colocaciones privadas exitosas que totalizaron 5,2 millones de dólares.

FlexTV ha ganado tracción a nivel mundial, posicionándose entre las 10 mejores aplicaciones de entretenimiento gratuitas en varios países. La compañía se está enfocando en expandir su biblioteca de contenido y mejorar el compromiso del usuario para mantener su posición en el mercado.

메가 매트릭스 코퍼레이션(Mega Matrix Corp.)(NYSE American: MPU)은 2024년 2분기 재무 결과를 발표하며 FlexTV 플랫폼의 유의미한 성장을 강조했습니다. 주요 사항은 다음과 같습니다:

- 2024년 상반기 사용자 충전 총액은 1,580만 달러로, 62%가 미국에서 왔습니다.
- 총 활성 사용자는 410만 명에 달하며, 이 중 50만 명이 유료 사용자입니다.
- 2024년 상반기 감사하지 않은 수익은 1,560만 달러이며, 이 중 1,430만 달러는 스트리밍 서비스에서 발생했습니다.
- 940만 달러의 총 이익과 60%의 마진.
- 520만 달러의 성공적인 사모 배정.

FlexTV는 전 세계적으로 인기를 끌며 여러 국가에서 무료 엔터테인먼트 앱 상위 10위 안에 랭크되었습니다. 회사는 콘텐츠 라이브러리를 확장하고 사용자 참여를 강화하여 시장 내 입지를 유지하는 데 집중하고 있습니다.

Mega Matrix Corp. (NYSE American: MPU) a annoncé ses résultats financiers pour le deuxième trimestre 2024, mettant en avant une croissance significative de sa plateforme FlexTV. Les points clés incluent :

- Les recharges des utilisateurs ont totalisé 15,8 millions de dollars au cours du premier semestre 2024, avec 62 % provenant des États-Unis.
- Le nombre total d'utilisateurs actifs a atteint 4,1 millions, dont 0,5 million d'utilisateurs payants.
- Un revenu non audité de 15,6 millions de dollars pour le premier semestre 2024, dont 14,3 millions de dollars provenant des services de streaming.
- Un bénéfice brut de 9,4 millions de dollars avec une marge de 60 %.
- Des placements privés réussis d'un montant total de 5,2 millions de dollars.

FlexTV a gagné en traction à l'échelle mondiale, se classant parmi les 10 meilleures applications de divertissement gratuites dans divers pays. L'entreprise se concentre sur l'expansion de sa bibliothèque de contenus et l'amélioration de l'engagement des utilisateurs pour maintenir sa position sur le marché.

Mega Matrix Corp. (NYSE American: MPU) veröffentlichte die Finanzzahlen für das zweite Quartal 2024 und hob das signifikante Wachstum seiner FlexTV-Plattform hervor. Wichtige Punkte umfassen:

- Die Nutzeraufladungen beliefen sich in der ersten Hälfte 2024 auf 15,8 Millionen USD, wobei 62% aus den USA stammten.
- Die Gesamtzahl aktiver Nutzer erreichte 4,1 Millionen, darunter 0,5 Millionen zahlende Nutzer.
- Nicht geprüfte Einnahmen von 15,6 Millionen USD in der ersten Hälfte 2024, einschließlich 14,3 Millionen USD aus Streaming-Diensten.
- Bruttogewinn von 9,4 Millionen USD mit einer Marge von 60%.
- Erfolgreiche Privatplatzierungen in Höhe von insgesamt 5,2 Millionen USD.

FlexTV hat global an Beliebtheit gewonnen und rangiert in verschiedenen Ländern unter den Top 10 der kostenlosen Unterhaltungs-Apps. Das Unternehmen konzentriert sich darauf, seine Inhaltsbibliothek zu erweitern und das Nutzerengagement zu verbessern, um seine Marktstellung zu halten.

Positive
  • User recharge totaled $15.8 million in H1 2024, with 62% from the U.S. market
  • Total active users reached 4.1 million, with 0.5 million paying users
  • Unaudited H1 2024 revenue of $15.6 million, including $14.3 million from streaming services
  • Gross profit of $9.4 million with a 60% margin
  • Successful private placements totaling $5.2 million
  • FlexTV ranked in top 10 Free Entertainment Apps in multiple countries
  • Increased content production to over 5 short dramas per month since July 2024
Negative
  • None.

Insights

Mega Matrix Corp.'s Q2 2024 results show promising growth in the short-form video streaming market. With $15.6 million in unaudited revenue for H1 2024, including $14.3 million from streaming services, the company demonstrates strong monetization potential. The 60% gross profit margin is impressive for a growing tech company.

Key positives include:

  • $15.8 million user recharge, with 62% from the U.S.
  • 4.1 million active users with $3.5 ARPU
  • 0.5 million paying users with $28.8 ARPPU

The focus on the U.S. market, accounting for 51.7% of streaming revenue, aligns with high-value user acquisition strategies. However, investors should monitor cash burn and path to profitability, as rapid growth often comes with high costs.

FlexTV's rapid ascent in app store rankings across multiple countries signals strong market penetration and user adoption. Notably, achieving top 10 positions in diverse markets like Thailand, Japan, France, South Korea and Indonesia demonstrates global appeal.

The success of "Mr. Williams! Madame is Dying" with $9.0 million in user top-ups and 201.3 million views highlights the platform's ability to produce viral content. This is important in the competitive short-form video space.

The expansion of the script team to produce over 5 short dramas monthly is a strategic move to maintain content quality and frequency. However, the challenge lies in sustaining this momentum and competing with established players in the attention economy.

PALO ALTO, Calif., Aug. 14, 2024 /PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE American: MPU), today announced financial results for its second quarter ended June 30, 2024. 

Operating Highlights

  • User recharge totaled $15.8 million in the first half of 2024, with 62.0% generated from the U.S.
  • In the first half of 2024, our total active users reached 4.1 million, with an ARPU of $3.5 and our total active paying users amounted to 0.5 million, with an ARPPU of $28.8.
  • As of July 31, 2024, several hit series were released, among which "Mr. Williams! Madame is Dying" generated an unaudited total user top-up amount exceeding $9.0 million and brought 201.3 million views, which demonstrated the powerful monetization capability of hit series.
  • Since July 2024 through the date hereof, FlexTV has ranked in the top 10 Free Entertainment Apps Chart on the App Store and Google Play in various countries.
    • On July 16, 2024, FlexTV reached the 2nd position on the App Store's Free Entertainment Chart in Thailand.
    • On July 26, 2024, FlexTV rose to the 8th position on the App Store's Free Entertainment Chart in Japan.
    • On July 31, 2024, FlexTV secured the 7th position on the App Store's Free Entertainment Chart in France.
    • On August 12, 2024, FlexTV ranked within the Top 5 on the App Store's Free Entertainment Chart in South Korea.
    • On August 12, 2024, FlexTV achieved the 3rd place on both the App Store and Google Play's Free Entertainment Chart in Indonesia.

Financial Highlights

  • In the first half of 2024, the Company's total unaudited revenue reached $15.6 million, including over $14.3 million from membership and top-up streaming services and around $1.3 million from online advertising services.
  • Membership and top-up streaming services revenue from the U.S. market amounted to $7.4 million, representing 51.7% of the total streaming services revenue, which was attributed to our focus on English self-produced short dramas and the U.S. market.
  • Gross profit for the first six months of 2024 reached $9.4 million, with an almost 60.0% gross profit margin.
  • On May 9, 2024, the Company successfully closed the private placement of $3.7 million of common stock at a price of $2.20 per share.
  • On August 1, 2024, the Company successfully closed the private placement of $1.5 million of 681,818 shares of its common stock (or common stock equivalents in lieu thereof), short-term series A warrants to purchase up to 681,818 shares of common stock and series B warrants to purchase up to 681,818 shares of common stock at $2.20 per share, through H.C. Wainwright & Co., LLC acting as the Company's exclusive placement agent in connection with the private placement.

 

Management Commentary

Mr. Yucheng Hu, CEO of Mega Matrix Corp., stated, "In Q2 of 2024, our efforts to bolster FlexTV's development were validated as we witnessed significant tractions and engagement on the platform. The rapid uptake by users underscores the appeal of our curated short drama content, tailored for the vertical screen format.

Building on this momentum, our focus for the remainder of the year is on further enriching the FlexTV experience. We are committed to expanding our content library, nurturing studios that supply content to our platform, forging strategic partnerships, and enhancing user engagement features to ensure that FlexTV remains at the forefront of the evolving entertainment landscape.

Mega Matrix recognizes that captivating storylines are the cornerstone of successful short dramas. Consequently, we have strengthened our script team, significantly enlarging its size and refining the scriptwriting process. Since July 2024, our newly reinforced team has successfully stabilized production at over 5 short dramas per month.

The success we've experienced in Q2 reaffirms our belief in FlexTV's potential to revolutionize the way audiences consume content in the digital age. We are excited to continue driving innovation and delivering compelling entertainment experiences that resonate with viewers worldwide, all while maximizing value for our shareholders."

About Mega Matrix: Mega Matrix Corp. (NYSE AMEX: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Delaware corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Key Metrics

The numbers for our key metrics, which include our total active users (TAU), total paying users (TPU), average membership and top-up streaming service revenue per active user (ARPU), and average membership and top-up streaming service revenue per paying user (ARPPU), are calculated using internal company data based on the activity of user accounts. We define an active user as a user who has downloaded and opened FlexTV app at least once. We define a paying user as a user who has registered for a membership or topping up, provided a method of payment, and is entitled to access FlexTV services (this membership or topping up does not include participation in free trials or other promotional offers extended by FlexTV to new users). We define ARPU as average membership and top-up streaming services revenue generated by each active user in one quarter. We define ARPPU as average membership and top-up streaming services revenue generated by each paying user in one quarter. We use these metrics to assess the growth and health of the overall business and believe that ARPU best reflects our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; ; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Risk Factors" in documents filed by the Company with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (f/k/a Twitter):

twitter.com/MegaMatrixMPU

Facebook:

facebook.com/megamatrixmpu

facebook.com/flextvus

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

Contact: Info@megamatrix.io

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/mega-matrix-corp-announces-second-quarter-2024-financial-results-302222486.html

SOURCE Mega Matrix Corp.

FAQ

What was Mega Matrix Corp's (MPU) revenue for H1 2024?

Mega Matrix Corp's unaudited revenue for the first half of 2024 reached $15.6 million, including over $14.3 million from membership and top-up streaming services and around $1.3 million from online advertising services.

How many active users did FlexTV have in H1 2024?

In the first half of 2024, FlexTV's total active users reached 4.1 million, with an ARPU of $3.5. The platform had 0.5 million active paying users, with an ARPPU of $28.8.

What was the gross profit margin for Mega Matrix Corp (MPU) in H1 2024?

Mega Matrix Corp reported a gross profit of $9.4 million for the first six months of 2024, with an almost 60.0% gross profit margin.

How much capital did Mega Matrix Corp (MPU) raise through private placements in 2024?

Mega Matrix Corp successfully raised a total of $5.2 million through two private placements in 2024. On May 9, they closed a $3.7 million placement, and on August 1, they closed an additional $1.5 million placement.

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