Gamelancer Media Announces Third Quarter 2022 Earnings
Third quarter revenue of $1,330,566, up over 153% from the prior quarter
and highest quarterly revenue since the Company began generating
revenues in Q4, 2021;
Net loss for the quarter of $2,136,169, and comprehensive income for the
quarter of $600,740
TORONTO, Nov. 29, 2022 /PRNewswire/ - Gamelancer Media Corp. (CSE: GMNG) (OTCQB: GAMGF) (FRA: P93) ("Gamelancer" or the "Company") a media & entertainment company producing short-form video content for brands, with broadcast on its 27 owned-and-operated TikTok, Instagram, and Snapchat channels, has filed its financial statements and Management Discussion and Analysis for its third fiscal quarter of 2022.
Gamelancer is pleased to report that its revenues for the three months ended September 30, 2022 totalled $1,330,556 (2021 - $nil) up 153% from $523,865 in the previous quarter, and is the highest quarterly revenue since the Company's inception. Revenue generated over the quarter was derived from direct-media brand partnerships creating original content through Gamelancer owned JoyBox Media, with content distribution on Gamelancer's TikTok and Instagram network. Additionally, Gamelancer generated monthly recurring revenue through its Snapchat Discover channels in partnership with SnapChat.
The net loss for the three months ended September 30, 2022 was recorded as $2,136,169 (2021 - $1,476,446). Adjusting for non-cash items including the write-off of NFT assets of $987,593 and share-based compensation of $358,841, the adjusted net loss for the third quarter of 2022 was $789,735.
"Our third quarter earnings highlight Gamelancer's ability to monetize our owned-and-operated TikTok, Instagram, and Snapchat channels. Recurring campaigns with RBC, Samsung Canada & USA, Belkin, GFUEL, Celsius, a growing partnership with an American-owned international sports cable channel, and our OTT Snapchat recurring revenue, Gamelancer is executing on our strategy of monetizing the largest gaming community in short-form video social media."– Jon Dwyer, Chairman & CEO, Gamelancer Media Corp.
The net loss for the nine months ended September 30, 2022 was $7,242,109 (2021 -$7,631,707). Adjusting for non-cash items such as the write-off of NFT assets of $987,593 and share-based compensation of $1,263,786, the net loss for the nine months ended September 30,2022 would have been $4,990,730.
2022 Operational Highlights
- Renewals or new business with key notable partners including RBC, Samsung Canada, Belkin, Celsius, GFUEL, and the largest sports cable network in the USA, among others.
- JoyBox Media signed an annual contract with Thorn, an organization founded by actors Demi Moore and Ashton Kutcher. The campaign created authentic, relatable original content that would help spread awareness around important issues related to the Gen Z community.
- Of our 27 channels, our largest TikTok channel @gaming surpassed 10 million followers and our total followers and subscribers is currently well over 34 million.
- 3rd quarter network growth continued to accelerate with 3,802,876 new followers on the Gamelancer network, averaging 1,267,625 new followers each month.
- A strong majority of our follower base continues reside in the United States, Canada, the UK, and Australia.
Acquired by Wondr Gaming, Gamelancer Media Corp. is a media & entertainment company producing short-form video content for brands, with broadcast on its owned and operated TikTok, Instagram and Snapchat channels. Gamelancer works with companies such as RBC, Samsung Canada, Belkin, Celsius, GFUEL, and several other notable brands. The company produces and distributes content across its 27 owned-and-operated channels to over 34,400,000 followers & subscribers, generating over 1.8 billion monthly video views. A majority of the Gamelancer's audience are located in the USA, Canada, the UK, and Australia.
With advanced user data analytics, Gamelancer provides its audience with content relevant to the GenZ & Millennial respective communities. Gamelancer owns the largest gaming media inventory on TikTok. Gamelancer also monetizes across its Snapchat Discover channels in partnership with Snapchat.
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Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
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. More particularly and without limitation, this news release contains forward–looking statements and information relating to the future business of the Company, the potential of the Company's products and services, further business from the Company's clients, industry outlook and potential and other matters. 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.
SOURCE Gamelancer Media Corp.
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