- Several New Enterprise Clients Signed, Including Largest Ever
- Re-Aligning Operations To Focus On Growing High Margin Lines of Business
- Optimizing Costs to Accelerate Path to Profitability
VANCOUVER, BC, March 30, 2023 /CNW/ - BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (Frankfurt: 64V) ("BBTV" or the "Company"), the leading creator monetization company with a mission to help creators become more successful, today announced it is aligning operations to further focus on Content Management and Direct Advertising Sales with the objective to maximize higher margin revenue growth as it continues to drive towards profitability. With the strongest ever pipeline, growth in higher margin enterprise Content Management revenue continues to accelerate. Recently, BBTV signed major contracts with a top multinational entertainment and record label conglomerate, as well as a major global entertainment company.
- The multinational entertainment and record label conglomerate is the largest Content Management client in BBTV's nearly 18 year history.
- Following the signings of Combate Global, The Harlem Globetrotters, and Wondery in Q4 2022, these contracts add to BBTV's strongest ever lineup of enterprise media clients utilizing BBTV's Content Management solutions. Other clients include the NBA, Sony Pictures, Paramount Global, and PBS among others.
- For each of these new signings, BBTV is providing a diversity of its comprehensive Content Management solutions, which include Rights Management, Channel Management and Content Development. Content Management delivers 3 to 4 times higher gross margins than the Company's Base Solutions and is the primary revenue stream for Plus Solutions.
"As more consumers shift to digital content in 2023, more media companies and brands are looking for ways to grow and monetize otherwise inaccessible communities online," comments Lewis Ball, Chief Strategy Officer, BBTV. "These latest major signings illustrate the growing acceptance of BBTV's comprehensive enterprise solutions, and validate the investments that we have made in this line of business over the past several years and that we plan to continue to make."
"We are aligning our operations and talent to capitalize on emerging opportunities in our high growth, high margin lines of businesses" said KB Brinkley, Chief Financial Officer, BBTV "With continued focus and further recent cost optimization, which was in addition to the 14% reduction in headcount announced in June of last year, we expect to accelerate our path to profitability with high margin revenue expansion."
As BBTV continues to see strong growth in its Content Management business, YouTube has also recently begun sharing revenue with creators for YouTube Shorts as of February 1, 2023, enabling monetization for an additional portion of the Company's monthly Base Solutions viewership.
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency – content creation. In December 2022, BBTV had the fourth most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 35 billion minutes of video content [1]. (www.bbtv.com)
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = December 2021 comScore Video Metrix Media Trend – Multi-Platform – Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.
Links to SEDAR filings, conference call recordings and press releases are available on the investor website at: https://investors.bbtv.com/
This press release contains "forward–looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is not information about historical facts but instead represents the Company's intentions, beliefs, plans, goals, objectives and strategies regarding future events and results. Forward-looking information contained in this press release includes statements that the Company has the objective to maximize higher margin revenue growth as it continues to drive towards profitability; the Company's growth in higher margin enterprise Content Management revenue continues to accelerate; and the Company expects to accelerate its path to profitability with high margin revenue expansion. Forward-looking information is necessarily based on a number of estimates and assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the Company's assumptions that its Content Management Solutions will continue to be attractive to existing and potential clients and the Company will continue to acquire new customers for its Content Management services and to retain existing customers; industry growth trends in views and RPMs will improve; there will be no changes in general industry, market and economic conditions adverse to the Company; and the Company will continue to receive higher margin revenue from its Content Management services. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that the Company's assumptions on which its forward-looking information is based may not be accurate; the effect of competition; the Company's agreements with its strategic partners, creators and customers may terminate early or not be renewed either on similar terms or at all; the Company's Content Management Solutions may not continue to be attractive to clients and may not continue to grow; the Company's significant reliance on its relationship with one digital platform; changes in laws and regulations; the Company has a history of losses and negative cash flow; the Company's need for additional capital; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 22, 2020, and in its Annual Information Form dated March 29, 2022 filed on sedar at www.sedar.com and in the Company's other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update any forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
For further information please contact:
Media Relations: pr@bbtv.com
Investor Relations: ir@bbtv.com
BBTV-C
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SOURCE BBTV Holdings Inc.
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