QYOU Media Reports Record FY2018 Revenue

QYOU Media Reports Record FY2018 Revenue

Canada NewsWire

  • FY2018 revenues up 33% year-over-year to $5,565,348
  • Strengthened balance sheet in FY2018 to support expected growth in FY2019 and beyond

TORONTO and LOS ANGELES, Oct. 29, 2018 /CNW/ - QYOU Media Inc. (TSXV: QYOU, OTCQB: QYOUF) ("QYOU Media" or the "Company"), a next-generation global media company that curates, packages and distributes premium digital-first short-form video for multiscreen distribution, has reported financial results for the year ended June 30, 2018. All figures appear in Canadian dollars.

QYOU Media Inc. (CNW Group/QYOU Media Inc.)

Financial Highlights for the Quarter

  • For the 12 months ending June 30, 2018, revenues increased to $5,565,348 compared to revenues of $4,185,467 for the 12 months ended June 30, 2017, an increase of 33%.
  • The net loss increased 7% to $7,213,174 for the 12 months ended June 30, 2018, as compared to $6,768,317 for the 12 months ended June 30, 2017.
  • FY2018 revenue total includes revenue reductions due to uncollectible receivables and currency exchange adjustments totalling ($696,111) impacting Q4 '18.

QYOU Media's CEO Curt Marvis stated, "Fiscal year 2018 saw continued expansion of QYOU Media on a global basis. We have successfully cleaned up and strengthened our balance sheet and positioned ourselves for growth as a result of our new $3.1M financing in July. From our localized content offerings in India, Poland and Southeast Asia to our flagship esports platform Heads Up Daily, aka HUD, we continue to gather momentum with young audiences around the world. We fully expect to rapidly broaden our reach to fans of premium digital video in months ahead."

Detailed information in QYOU Media's financial statements for the years ended June 30, 2018 and 2017, the notes to the financial statements, and QYOU Media's annual management discussion and analysis have been posted to the Company's website and have been filed under QYOU Media Inc.'s profile on SEDAR at www.sedar.com.

About QYOU Media Inc.

QYOU Media Inc. is a fast-growing global media company that curates and packages premium content from leading digital video creators for multiscreen distribution. Founded and created by industry veterans from Lionsgate, MTV, and CinemaNow, QYOU's millennial and Gen Z-focused products, including linear television networks, genre-based series, mobile apps, and video-on-demand formats, reach more than 300 million people around the world. Distribution partners include Vodafone, 21st Century Fox, Liberty Global, Showmax, iflix, Jio, Super Channel and TATA Sky.

Forward-Looking Statements

This press release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including, without limitation, the Company's geographical and distribution expansion, future revenue growth, audience composition for the Company's programming and the future plans of the Company. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements, and the forward-looking statements are not guarantees of future performance. Additional risks and uncertainties regarding QYOU Media are described in its publicly available disclosure documents, filed by QYOU Media on SEDAR at www.sedar.com except as updated herein. The forward-looking statements contained in this news release represent QYOU Media's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, QYOU Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE QYOU Media Inc.

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