VANCOUVER, British Columbia--(BUSINESS WIRE)--BBTV Holdings Inc. (TSX: BBTV) a media tech company that uses technology enabled solutions to help content owners become more successful, today provided a corporate update on its Q4 2020 activity to date:
- BBTV revenue and gross profit growth rates have continued to increase through mid Q4 over the same period in Q3, both when it comes to year-over-year and sequential growth rates.
- In October, revenue and gross profits have grown by over 45% and 25% year-over-year, respectively.
- This follows record revenues in Q3 2020 at $120.7 Million which reflected a 31% increase in revenues on a YoY basis.
- Thus far in Q4, based on current results, BBTV expects break-even to positive Adjusted EBITDA1 for the quarter.
- BBTV’s recent mobile gaming app, “TheOdd1sOut: Let’s Bounce”, announced November 2nd 2020, in partnership with James Rallison, was ranked the number one family game on the US Apple iOS App store this week.
More specifically, the fourth quarter is typically BBTV’s highest revenue quarter due to seasonal ad spending during the holiday season, typically representing 30-35% of the total revenue for the year. To date, the company has experienced significant, sustainable growth throughout the year, and revenue growth rates in Q4 have accelerated over Q3 as anticipated. Moreover, according to the most recent August 2020 Comscore data, the number of unique viewers watching BBTV content on a monthly basis has increased by 19M from June 2020, going from 596M to 615M. Similarly, monthly minutes watched increased over the same period, from 54 million to 55 million minutes respectively.
“We’re very pleased to provide this corporate update, BBTV’s business continues to grow from strength to strength with continued progress in revenue and gross profit generation” comments Shahrzad Rafati, Chairperson and CEO of BBTV, “Also, we’re thrilled to report that our newest mobile gaming app was ranked the number one family game on the Apple App store in the US, earlier this week.”
BBTV’s New Mobile Game TheOdd1sOut Ranked #1 Family Game on iPhone & iPad
BBTV’s recently announced mobile gaming app, “TheOdd1sOut: Let’s Bounce”, announced November 2nd 2020, in partnership with James Rallison, was ranked the number one ranked family game on the Apple App store (US) this week. In addition, it was the number two Casual game on iPad, the number three Casual game on iPhone, the number four game on iPad and number six game on iPhone, speaking to the success of the launch, and popularity of the game.
“This is another fantastic proof point that highlights the quality of BBTV’s mobile games, and ability to successfully launch into the market,” comments Lewis Ball, VP of Strategy, BBTV, “Not only does BBTV know how to produce great apps, but we have incredible scale and an engaged audience that allows us to easily market the app and give it the best possible chance of success. It’s an exciting proposition for content owners that are looking to engage with their fans on a deeper level, and broaden their revenue potential.”
The Mobile gaming apps revenue stream is a key part of BBTV’s Plus Solutions, helping to further unlock value from BBTV’s compelling portfolio of content partners and driving revenue expansion for both BBTV and its content owners.
Footnotes:
1- “Adjusted EBITDA” means net earnings or loss, as applicable, before financial expenses, income tax expense (recovery), amortization and depreciation, share-based payments, unrealized and realized gains or losses due to foreign exchange, transaction-related costs, and certain other items set out in the reconciliation table under the heading “Selected Consolidated Financial Information – BBTV – Reconciliation of Non-IFRS Measures” in the preliminary prospectus.
About BBTV
BBTV is a media and technology company headquartered in Vancouver, Canada. BBTV is an enabling platform with a stated mission of advancing the world through the democratization of content. From individual content creators to global media companies, BBTV monetizes the media of content owners through end-to-end management, distribution and monetization solutions, powered by its innovative VISO Platform, including related proprietary technology, while allowing content owners to focus on their core competency – content creation. In August 2020, BBTV had the second most unique monthly viewers among digital platforms with 615 million globally, who consumed more than 55 billion minutes of video content, the most among media companies2 www.bbtv.com
2- Calculations and classifications made by BBTV based on data from Comscore contained in Comscore’s “Top 12 Countries = August 2020 comScore Video Metrix Media Trend - Multi-Platform - Top 100 Video Properties Report”.
Forward-Looking Statements
This press release may contain forward‐looking information within the meaning of applicable securities legislation, including statements with regards to the timing of the release of the third quarter results and related conference call, and achieving the Company’s capital markets objectives, which forward-looking information reflects the Company’s current expectations regarding future events. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, having to change anticipated timing of our release and conference call, failure to meet our capital markets objectives and related future events, and the factors discussed under “Risk Factors” in the final prospectus of the Company dated October 22, 2020. The Company does not undertake any obligation to update such forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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