Vertiqal Studios (TSX:VRTS, OTCQB:GAMGF) has reported steady growth in its monthly recurring revenues from its Over The Top (OTT) shows during the first three quarters of 2023.
The company currently offers more than 50 OTT shows, content that is delivered to viewers directly via the Internet on platforms such as Snapchat, with plans to expand its portfolio by more than 40 additional shows.
Vertiqal reported OTT revenues of US$456,783,71 for 1Q, $US$700,054.58 for 2Q, and US$726,246.71 for 3Q, which represented performance above forecast of 13%, 40% and 7.5% respectively.
For the nine-month period, the company achieved total revenues from its OTT shows of US$1,883,085.
With all current costs accounted for, its OTT gross margin is about 83.61%, Vertiqal said.
The company noted that these figures are based on the company’s unreviewed 3Q financials, which are still in progress, and its OTT revenue does not account for its direct media business.
"Our success with monetized content comes down to two key pillars: our relationships with creators and our data-fuelled approach,” Vertiqal vice president of platform monetization Jack Opshal commented.
“We've been lucky to have had the opportunity to partner with some of the top creators and agencies across North America to build fantastic catalogues and really put some fire behind our efforts across all platforms.”
Vertiqal CEO Jon Dwyer added in a statement: “Our dedication to delivering value to our loyal shareholders and stakeholders is unwavering, with our primary focus being revenue growth and growing profitability in the US, where a majority of our audience resides.”
Vertiqal Studios (TSX:VRTS, OTCQB:GAMGF) is an owned-and-operated digital-channel network and video production studio.
Specializing in the creation of endemic short-form vertical video content for social platforms, Vertiqal produces and distributes 100 plus videos daily across 66 owned-and-operated channels, utilizing TV economics to monetize TikTok and Instagram, and revenue-share with Over The Top (OTT) platforms such as Snapchat.
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