Sanwire Highlight's Fiscal Year 2022 Performance, Reporting 240% Revenue Growth

Rhea-AI Summary

Sanwire Corporation (OTC PINK:SNWR) reported a remarkable 240% revenue growth for fiscal year 2022, primarily driven by its subsidiary, Intercept Music Inc. Key successes include a 430% increase in streaming to 130 million and new industry partnerships. Over $1.2 million was raised for product development and marketing. The fourth quarter alone matched the previous three quarters in performance, indicating strong momentum. Future revenue growth is anticipated, with ongoing marketing campaigns and new partnerships, further solidifying Intercept Music's position in the dynamic music industry.

Positive

• 240% revenue growth for fiscal year 2022.
• 430% increase in streaming to 130 million streams.
• Raised over $1.2 million for product development and marketing.
• Fourth quarter revenue nearly matched first three quarters combined.

Negative

• None.

SAN FRANCISCO, CA / ACCESSWIRE / April 25, 2023 / Sanwire Corporation ("Sanwire" or the "Company") (OTC PINK:SNWR), an entertainment technology innovator, and its wholly owned subsidiary, Intercept Music Inc ("Intercept Music") - a multi-faceted music label with cutting-edge, artist-centric distribution and marketing platform, are pleased to provide fiscal year 2022 performance review.

The Company's sole subsidiary, Intercept Music achieved 240% sales growth compared to fiscal year end 2021; breaking records and positioning itself as a major player in the music industry. Fiscal year 2022 revenue increase and performance excellence are attributed to many factors with growth across all major income streams. Major drivers behind the increased revenue are:

• Number of streams increased by 430% to 130 million streams over year end 2021;
• Number of partnerships launched in late 2021 and 2022 contributed prominently to the increase in the streaming figures. Partnerships such as Method Man; CC Enterprises; Litco Entertainment and many others;
• The Company raised over $1,200,000 for product development, sales & marketing campaigns and customer acquisition;
• Meaningful enhancements to the Company's proprietary software that have streamlined revenue growth;
• Commitment to innovation, unparalleled service, and strategic partnerships with industry leaders; and
• Continued additions of new artists and Independent Labels directly to Intercept Music's platform.

The fourth quarter of 2022 saw tremendous growth, with figures nearly equal to the first three quarters of 2022, combined. This exceptional performance is a testament to Intercept Music's marketing efforts, which have helped the Company establish a strong foothold in the music industry.

"Thrilled with the results, we're absolutely stoked to report such incredible growth in 2022, and want to thank our clients, partners, and investors for their trust and support," said Tod Turner, Intercept Music CEO. "Our dedication to excellence and providing our clients with top-notch service has been key to our success. Our team has worked tirelessly, and we're proud of the momentum we've gained in the industry to lead us in 2023. Our recent announcement with music legend Coolio's estate is a confirmation we are able to attract great talent and partnerships."

"Revenue growth is expected to continue in first quarter of 2023 as the Company pushes ahead with its multi-faceted marketing campaigns," said Ron Hughes, Sanwire's CEO. "Intercept Music's outstanding year-end financial results demonstrate its continued growth and success, empowering musicians with the tools and resources they need to thrive in today's dynamic music industry."

About Intercept Music Inc.
Intercept Music champions creative artists. The entertainment technology company harnesses the power of premium distribution, sizzling social media, meaningful marketing, monumental merchandising, and customizable promotional services to empower independent labels and their artists to build audiences and drive revenue. The Software as a Service (SaaS) company focuses exclusively on the independent music market, the fastest-growing sector of the music industry.

Intercept Music's online platform is dedicated to helping independent artists and bands effectively distribute, promote, and earn income from their music. Intercept's platform gives artists immediate access to hundreds of digital stores and every major streaming platform, including Spotify, Apple Music, Amazon Music, Pandora and Google Music. In addition to powerful DIY social media marketing and promotional tools available on a monthly subscription model, the invitation-only Intercept Plus program offers fully managed promotional services, including the opportunity to sell merchandise through branded online stores. Learn more at interceptmusic.com or visit Intercept Music's Instagram, Twitter, and Facebook.

About Sanwire Corporation
Sanwire Corporation (OTC PINK:SNWR), a diversified public company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for several years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, visit sanwirecorporation.com.

For press and corporate inquiries, please contact:
Ronald E. Hughes
CEO, Sanwire Corporation
ron.hughes.management@gmail.com

Safe Harbor Statement
This release contains forward-looking statements. All statements regarding our expected future financial positions, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the OTC Markets, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Sanwire Corporation

View source version on accesswire.com:
https://www.accesswire.com/751021/Sanwire-Highlights-Fiscal-Year-2022-Performance-Reporting-240-Revenue-Growth

FAQ

What was Sanwire Corporation's revenue growth for fiscal year 2022?

Sanwire Corporation reported a 240% revenue growth for fiscal year 2022.

How much did streaming increase for Intercept Music in 2022?

Intercept Music experienced a 430% increase in streaming, reaching 130 million streams.

What financial support did Intercept Music receive for growth?

Intercept Music raised over $1.2 million for product development, sales, marketing, and customer acquisition.

What does the future outlook look like for Sanwire Corporation?

Sanwire expects continued revenue growth into the first quarter of 2023 driven by ongoing marketing campaigns.