- 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.
About BBTV
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/
Forward Looking
Statements
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.