- Several New Enterprise Clients Signed, Including Largest Ever
- Re-Aligning Operations To Focus On Growing High Margin Lines of Business
- Optimizing Costs to Accelerate Path to Profitability
- The multinational entertainment and record label conglomerate is the largest Content Management client in
BBTV's nearly 18 year history. - Following the signings of Combate Global, The Harlem Globetrotters, and Wondery in Q4 2022, these contracts add to
BBTV's strongest ever lineup of enterprise media clients utilizingBBTV's Content Management solutions. Other clients include the NBA, Sony Pictures, Paramount Global, andPBS among others. - For each of these new signings,
BBTV is providing a diversity of its comprehensive Content Management solutions, which include Rights Management, Channel Management and Content Development. Content Management delivers 3 to 4 times higher gross margins than the Company's Base Solutions and is the primary revenue stream for Plus Solutions.
"As more consumers shift to digital content in 2023, more media companies and brands are looking for ways to grow and monetize otherwise inaccessible communities online," comments
"We are aligning our operations and talent to capitalize on emerging opportunities in our high growth, high margin lines of businesses" said KB Brinkley, Chief Financial Officer,
As
[1] Calculations and classifications made by
Links to SEDAR filings, conference call recordings and press releases are available on the investor website at: https://investors.bbtv.com/
This press release contains "forward–looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"). Forward-looking information is not information about historical facts but instead represents the Company's intentions, beliefs, plans, goals, objectives and strategies regarding future events and results. Forward-looking information contained in this press release includes statements that the Company has the objective to maximize higher margin revenue growth as it continues to drive towards profitability; the Company's growth in higher margin enterprise Content Management revenue continues to accelerate; and the Company expects to accelerate its path to profitability with high margin revenue expansion. Forward-looking information is necessarily based on a number of estimates and assumptions that the Company considered appropriate and reasonable as of the date such information is given, including but not limited to the Company's assumptions that its Content Management Solutions will continue to be attractive to existing and potential clients and the Company will continue to acquire new customers for its Content Management services and to retain existing customers; industry growth trends in views and RPMs will improve; there will be no changes in general industry, market and economic conditions adverse to the Company; and the Company will continue to receive higher margin revenue from its Content Management services. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company's control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that the Company's assumptions on which its forward-looking information is based may not be accurate; the effect of competition; the Company's agreements with its strategic partners, creators and customers may terminate early or not be renewed either on similar terms or at all; the Company's Content Management Solutions may not continue to be attractive to clients and may not continue to grow; the Company's significant reliance on its relationship with one digital platform; changes in laws and regulations; the Company has a history of losses and negative cash flow; the Company's need for additional capital; and the impact of the continuing COVID-19 pandemic; as well as the factors discussed under "Risk Factors" in the final prospectus of the Company dated
For further information please contact:
Media Relations: pr@bbtv.com
Investor Relations: ir@bbtv.com
BBTV-C
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