October Revenue Hits 7
Crore or Over $1,150,000
Growth Driven by Larger Budget Campaigns and
Strong Diwali Holiday Social Media Marketing
MUMBAI,
India and TORONTO,
Nov. 8,
2023 /CNW/ - QYOU Media Inc., (TSXV: QYOU)
(OTCQB: QYOUF) a company operating in India and the United
States producing and distributing content created by social
media stars and digital content creators, has announced that
Chtrbox, its India based
Influencer Marketing business unit, has hit a new milestone with
its largest revenue month since inception. In October 2023, the business unit booked total
revenue of over 7 Crore or
$1,150,000*. Revenue for the
month was driven by a combination of larger individual campaign
budgets along with growth in the overall business, strengthened by
strong social media marketing during the active Diwali holiday
season in India.
According to a report from analysis firm PQ Media, India was the second fastest growing market
for influencer marketing in 2022. Globally, influencer
marketing is projected to generate USD $21.1
billion in 2023. Goldman Sachs recently projected that
by 2027 the overall industry becoming known as the "creator
economy" is set to reach a total size of nearly half a trillion
dollars in overall monies generated.** Chtrbox, founded in 2016,
has established itself as a leading influencer agency in
India. Since inception it has delivered over 30,000 campaigns
for over 2,000+ brands resulting in more than 100 billion
impressions. The business was acquired by QYOU Media in June
of 2021.
Curt Marvis, CEO and Co-Founder,
QYOU Media, commented "We are so proud of the amazing
accomplishments of the Chtrbox team throughout October and we look
for a continued strong quarter for the business. While 2023
has manifested many challenges in the global economy and
additionally here in our US influencer business with the ongoing
actors strike, we continue to believe that the power of creators to
drive awareness, engagement and purchase intent for brands is the
future for all marketers. The October results at Chtrbox underscore
that. We have established an incredible list of first class
globally known brands that increasingly rely on us to bring them
relevant audiences at scale and we believe our hard work to
establish our position in the burgeoning creator economy will pay
dividends as we move ahead."
* Unaudited and at an
exchange rate of one rupee to $.017 Canadian dollars
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**https://www.pqmedia.com/product/global-influencer-marketing-forecast-2023-2027/
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https://influencermarketinghub.com/influencer-marketing-benchmark-report/
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https://www.goldmansachs.com/intelligence/pages/the-creator-economy-could-approach-half-a-trillion-dollars-by-2027.html
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About QYOU Media
One of the fastest growing creator-media companies, QYOU Media
operates in India and the United States producing, distributing and
monetizing content created by social media influencers and digital
content stars. In India, under our
flagship brand, The Q and on connected TV, via channels Q
Kahaniyan, Q GameX, Q Comedistaan & Sadhguru TV, we curate,
produce and distribute premium content across television networks,
VOD and OTT platforms, mobile phones, smart TV's and app-based
platforms. In addition, QYOU has numerous additional content
destinations, apps and gaming platforms engaging over 125 million
Indian households weekly. Our influencer marketing company,
Chtrbox, has been a pioneer in India's creator economy, leveraging data to
connect brands to the right social media influencers.
QGamesMela is a recently launched casual gaming business
leveraging access to the large audience enjoyed by Q India
products. In the United States,
we power major film studios, game publishers and brands to
create content and market via creators and influencers. Founded and
created by industry veterans from Lionsgate, MTV, Disney and Sony,
QYOU Media's millennial and Gen Z-focused content reaches more than
one billion consumers around the world every month.
Experience our work at www.qyoumedia.com
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.
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SOURCE QYOU Media Inc.