Welcome to our dedicated page for Rumble news (Ticker: RUM), a resource for investors and traders seeking the latest updates and insights on Rumble stock.
Rumble Inc. (symbol: RUM) is a dynamic, high-growth video-sharing platform that allows users to watch, share, like, comment, and upload their own videos. The platform supports both video-on-demand and live streaming content, enabling creators to engage with their audience in real-time. Users can subscribe to their favorite channels to stay updated with the latest content from creators.
Rumble Inc. focuses on generating revenue primarily from the United States. The company is not just a video platform; it is also a cloud services provider that prides itself on creating an independent infrastructure. Rumble's mission is to restore the internet to its roots by promoting a free and open internet. This mission is reflected in its commitment to providing an unfiltered and unbiased platform for content creators and consumers alike.
Rumble has been making headlines recently with its aggressive stance against major tech companies. Notably, Rumble has filed a lawsuit against Google, alleging anti-competitive and exclusionary practices. The lawsuit claims that Google's monopolistic behavior in the digital advertising market has unfairly impacted Rumble's growth. This legal action highlights Rumble's determination to challenge industry giants and advocate for a more equitable digital ecosystem.
In terms of financial performance, Rumble recently announced its fourth quarter and full-year 2023 results, demonstrating strong growth and financial health. The company continues to attract investor interest, and its upcoming earnings conference call is highly anticipated by stakeholders.
Rumble's partnerships and collaborations further bolster its position in the market. For instance, the platform hosts the popular podcast
Rumble (NASDAQ:RUM) has secured a $775 million strategic investment from Tether ($USDT), the largest digital assets company and stablecoin provider. The transaction allocates $250 million for growth initiatives, with the remaining funds dedicated to a self tender offer for up to 70 million shares of Rumble's Class A Common Stock at $7.50 per share.
Tether will purchase 103,333,333 shares at $7.50 per share. CEO Chris Pavlovski will maintain his controlling stake and has committed to tender no more than 10 million shares. The transaction, expected to close in Q1 2025, will preserve Rumble's existing board and governance structure, with Tether holding a minority position without board representation rights.
Rumble (NASDAQ: RUM) has announced that the fourth season of 'Surviving Barstool' will stream exclusively uncensored on its platform starting December 2, 2024. While YouTube will only carry a censored version, Rumble users can watch the unedited content through the Barstool Sports Rumble channel.
The show features twenty-four Barstool employees competing for a $250,000 prize while confined to their office, with eliminated contestants determining the ultimate winner. Barstool Sports, reaching 200M fans across social media, is known for its innovative content in sports, lifestyle, and entertainment, including podcasts, video, and live events.
Rumble (NASDAQ: RUM) announced it will exclusively host the uncensored fourth season of 'Surviving Barstool' starting December 2, 2024. The reality show features twenty-four Barstool employees competing for a $250,000 prize while confined to their office. While YouTube will carry a censored version, Rumble will stream the unedited content. Barstool Sports, reaching 200M fans across social media, is partnering with Rumble to deliver this content through their dedicated channel on the platform.
Rumble (NASDAQ:RUM) has filed a lawsuit against California's Attorney General and Secretary of State challenging AB 2655, a recently passed law requiring online platforms to remove or label content deemed 'materially deceptive' about elections, public officials, and candidates. The law was expedited after Governor Gavin Newsom's complaints about a satirical video of Kamala Harris. Rumble is represented by Alliance Defending Freedom (ADF), which also represents The Babylon Bee in a related lawsuit. The case was filed in U.S. District Court for the Eastern District of California, Sacramento Division.
Rumble (NASDAQ:RUM) has announced a corporate treasury diversification strategy that includes allocating up to $20 million of excess cash reserves to Bitcoin. The Board of Directors approved this initiative as part of the company's expansion into cryptocurrency. CEO Chris Pavlovski cited Bitcoin's potential as an inflation hedge and its increasing institutional adoption as key factors behind the decision. The timing and value of Bitcoin purchases will be determined by management based on market conditions, Bitcoin's trading price, and Rumble's cash needs. The strategy can be modified or discontinued at any time.
Rumble (NASDAQ:RUM) announced that popular streamer Dr Disrespect will join the platform and lead Rumble Gaming as an advisor. The agreement includes equity with milestones as primary compensation. Dr Disrespect will provide exclusive content through Rumble Premium for his 'Champions Club' community while continuing free streams. His first Rumble stream is scheduled for December 2, 2024. The platform is offering new subscribers a $10 discount with promo code VSM. This move aligns with Rumble's strategic focus on expanding into gaming and crypto sectors.
Rumble (Nasdaq: RUM) reported its Q3 2024 results, showcasing strong growth in several key metrics.
Revenue rose 12% sequentially to $25.1 million, a 39% increase YoY. Monthly Active Users (MAUs) grew to 67 million, up 26% QoQ, with 43 million in the U.S. and Canada. However, Average Revenue Per User (ARPU) declined to $0.33 from $0.37 in Q2 2024.
Net Loss increased to $31.5 million from $29.0 million in Q3 2023, though Adjusted EBITDA loss improved to $23.5 million. The company reduced its cash usage for the fourth consecutive quarter, with a 25% reduction from Q2 2024.
Significant events included a partnership with the Miami Dolphins, legal action against advertising agencies, and the launch of the Rumble app on Xbox. Rumble also reported record live viewership during the U.S. presidential debate.
Rumble (NASDAQ:RUM) announced multiple record-breaking achievements during Election Night (November 5-6). The platform reached new highs in livestreams, concurrent views, consumption, Premium subscribers, and advertising revenue. According to StreamsCharts, Rumble hit 1,791,052 peak concurrent viewers, with Dan Bongino's stream reaching 515,000 concurrent viewers and Steve Crowder achieving 460,000. The platform secured its position as one of the top three video streaming platforms alongside YouTube and Twitch, with its app ranking third in the Apple App Store's Top Charts, surpassing YouTube.
Rumble (NASDAQ:RUM) announced that content creator Steven Crowder will host an Election Night livestream titled 'The Election Livestream of the Century: The Rumble on Rumble' starting at 6:00 p.m. EST. Crowder, who has over 1.6 million Rumble subscribers, will promote Rumble Premium as his new home for exclusive content. MugClub subscribers will automatically receive access to Rumble Premium, the platform's ad-free subscription product.
Rumble Inc (NASDAQ: RUM) announced it will release its Q3 2024 financial results on November 12, 2024, after market close, followed by a conference call at 5:00 p.m. Eastern Time. Chairman and CEO Chris Pavlovski will participate in a post-earnings live stream interview with Matt Kohrs on Kohrs' Rumble channel using Rumble Studio. The interview will discuss Q3 2024 accomplishments and business initiatives, with viewers able to submit questions through the live stream comments.
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