FORT LEE, N.J., June 30, 2021 /PRNewswire/ -- Creatd, Inc.
(Nasdaq CM: CRTD) ("Creatd" or the "Company"), a creator-first
technology company, today announced a new business milestone of
surpassing 30,000 Vocal+ subscribers. Vocal+ is the premium
subscription offering of the Company's flagship product, Vocal.
Vocal+ was introduced in early 2020, approximately three years
following the Vocal platform launch. Together, Vocal counts over 1
million freemium and Vocal+ premium members in its vibrant creator
community.
Commented Creatd CEO Jeremy
Frommer, "We can confidently predict reporting $1 million in net revenues for second quarter
2021, representing a 3x increase as compared to the same period
last year. Next quarter, our focus will be on delivering new
features that will enhance our ability to continue acquiring and
retaining creators and their audiences while reducing marketing
costs, relying less on traditional paid media avenues and
leveraging the organic traction of our network of creator
communities—currently 39-strong. Coupled with that, our
newly-released Vocal Ambassador Program is a powerful source
of organic expansion for our platform and one that we anticipate
will only continue to gain steam. Our creator-first strategy
resonates throughout Creatd's business model and is expected to
lead us to a projected $1.6 to
$1.8 million in revenues in the third
quarter. Meanwhile, we expect an approximate $1.5 million reduction in marketing costs. With
that reduction, we anticipate approximately $3.3 million in operating expenses for the third
quarter of 2021.
"Momentum begets momentum. As Vocal's creator base approaches a
new critical mass, we are being proactive and responsive to the
evolving needs of our creator community, who we recognize is
seeking deeper and more frequent points of interaction within
Creatd."
Creatd, Inc. comprises three main pillars:
- Vocal Ventures, the technology development business housing the
Vocal platform;
- Creatd Partners, the Company's agency and corporate venture
business, which recently announced its intended acquisition of the
WHE Agency; and
- Recreatd, the Company's intellectual property and original
content production arm, focusing on partnering with creators to
expand their content into other storytelling formats, such as
books, comics, television series, and beyond.
Frommer continued, "Each pillar acts as an accelerator for its
counterparts, working in tandem to fuel Creatd's self-sustaining
ecosystem. With creators at the heart of our mission, Creatd can be
best understood as a central engine with interlinking cogs that
interact to elevate performance and drive success for its
stakeholders across the board."
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology
company and the parent company of the Vocal platform. Our mission
is to empower creators, entrepreneurs, and brands through
technology and partnership. We accomplish this through Creatd's
three main business pillars: Vocal Ventures, Creatd Partners and
Recreatd.
For news and updates, subscribe to Creatd's newsletter:
https://creatd.com/newsletter
Investor Relations Contact: ir@creatd.com
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SOURCE Creatd, Inc.