TORONTO, ON / ACCESSWIRE / August 14, 2023 / Gamelancer Media Corp. (TSX:GMNG)(OTCQB:GAMGF)(FRA:P93) (the "Company" or "Gamelancer"), an owned & operated digital-channel network and video-production studio, is pleased to announce its financial results for the second quarter of 2023. During this period, the Company has exceeded management's projections, achieving revenue growth of 171% compared to Q2 2022, with total revenues of $1,420,830 CDN for the three months ended June 30, 2023, versus $523,865 CDN for the three months ended June 2022.
Gamelancer's vast social network of 66 digital channels now totals over 41 million followers, creating one of the largest active and growing digital audiences in the 4 most valuable English-speaking media markets on the planet, being the US, Canada, the UK, and Australia. 67% of Gamelancer's audience resides in the US.
Gamelancer as a public entity is unique in that the company provides market participants exposure to the monetization of digital channel ownership on TikTok, Snapchat, and Instagram. Gamelancer owns one of the largest communities on TikTok globally and is a strategic partner of TikTok, participating in numerous TikTok revenue-share pilot programs.
The 2023 Q2 financial report underscores Gamelancer's ability to drive sustainable growth from a revenue and network perspective, demonstrating our value proposition that owned & operated channels + JoyBox, our creative studio, creates a unique "walled-garden" media offering for brands. As mentioned in the press release dated May 31, 2023, Q2 2023 witnessed increased revenue, network growth, and reduction in overhead costs as Gamelancer strives to be EBITDA positive in Fiscal Year 2023.
Management and the board would like to remind shareholders that the company has now fulfilled all financial and equity obligations related to the acquisition of both Gamelancer Inc and JoyBox Media Corp. In addition, please note costs attributed to the company becoming a senior issuer via an up-listing to the TSX and share-based compensation have impacted Q2 expenses.
| Consolidated Statement of Loss and Comprehensive Loss | Three months ended June 30, 2023 | Six months ended June 30, 2023 |
| Revenues | $1,420,830 | $2,143,039 |
| Gross Margin | 982, 613 | 1,160,568 |
| Total Expenses | 5,752,330 | 8,751,967 |
| Loss before Income Taxes | (4,769,717) | (7,591,399) |
| Adjusted EBITA | (2,231,612) | (3,678,818) |
In addition to the Q2 revenues of $1,420,830, Gamelancer continues to undertake cost-cutting initiatives en route to EBITDA positive results projected for Q4, 2023. Examining its internal processes and procedures, Gamelancer is committed to dramatically reducing the professional fees associated with being a publicly traded company within the calendar year.
"We are excited to see the continued growth Gamelancer is consistently seeing when comparing to FY2022. With revenues increasing by 263% compared to six months ended June 30, 2022, it solidifies our efforts in continuing to grow our strategic partnerships. The company persistently evaluates all facets of its operations, striving to achieve optimal efficiency and maintain a lean operational approach. Q2 2023 will have seen an increase in expenses in specific categories as we closed the private placement in June 2023. We look forward to continuing our efforts in increasing sales and minimizing costs as we enter into the last two quarters of the year," says Pooja Sharma, CFO
"We are pleased to announce our Q2 2023 financial results," adds Jon Dwyer, CEO, "monetizing Gamelancer's unique approach integrating television ad economics into digital channel ownership. Through our innovative fusion of gaming and lifestyle video entertainment, diversity and equity are cornerstone features of our creative short-form & long-form content for both our organic and branded content. Gamelancer is doubling down our sales efforts in the US, with plans to open our first New York City location within the calendar year, in order to better access the thriving US digital-media market."
About Gamelancer
Gamelancer Media Corp. is an owned & operated digital-channel network and video-production studio. Specializing in the creation of viral videos, Gamelancer produces & distributes 100+ videos daily across 66 owned-and-operated channels, utilizing TV-economics to monetize TikTok & Instagram, and revenue-share with OTT platforms such as Snapchat. Gamelancer's strategic focus is producing high-performing organic (not paid) video across our channels in order to continue building our audience of over 41 million followers and subscribers, who generate over 2 billion monthly video views. With a growing owned & operated network, Gamelancer cultivates scalable marketing concepts with brands, agencies, and creators, to build full production + distribution brand campaigns for the largest brands in North America, the UK, and Australia on TikTok, Snapchat, and Instagram.
With advanced user data analytics, Gamelancer provides its audience with content relevant to the Gen Z & Millennial respective communities. Gamelancer owns the largest gaming media inventory on TikTok and monetizes across its Snapchat Discover channels in partnership with Snapchat.
Visit us at gamelancer.com to join our email subscribers list and receive press releases and newsletters directly to your inbox.
For further information, please contact:
Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Email: [email protected]
IR Email: [email protected]
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the Toronto Stock Exchange nor its Market Regulator (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Gamelancer Media Corp.