QYOU Media Inc. (TSXV: QYOU) (OTC: QYOUF) is delighted with the latest results out of Chtrbox, its India-based Influencer Marketing business unit. Chtrbox has hit a record milestone with its largest revenue month since inception booking total revenue of over 7 Crore or $1,150,000* in October 2023.
This impressive revenue growth was driven by a combination of larger individual campaign budgets and growth in the overall business while also being elevated by dynamic social media engagement throughout the lively Diwali holiday period in India.
Founded in 2016, Chtrbox is well-established as a leading influencer marketing agency in India. Since its launch, it has delivered over 30,000 campaigns for 2,000+ brands resulting in more than 100 billion impressions. The business was acquired by QYOU Media in June 2021.
Today Chtrbox stands as India's premier platform and agency for influencer marketing, linking brands with social media personalities to craft compelling narratives. The platform has much to offer, boasting an extensive network of more than 300,000 influencers, including top-tier celebrities, digital stars, and niche figures like mom bloggers and campus creators.
Anirban Roy, Head of Planning, Ogilvy, South sings the team's praises in his glowing testimonial:
“I have engaged with the Chtrbox team on multiple occasions, across multiple brands. The team is sharp, driven and have a solid understanding of how Influencer Marketing works, and the results we got speaks volumes about Chtrbox. If you want to engage with consumers through Influencer Marketing, these guys are your best bet.”
October’s growth figures are encouragingly in line with the wider influencer marketing sector. This sector is expected to break through the $30 billion threshold in 2023, according to a report from PQ Media.
Indeed, India claimed the title of the second-fastest growing market for influencer marketing spend in 2022. This growth has been fueled by a spike in social media usage among younger generations along with a rise in the number of influencers, particularly nanoinfluencers who have under 10,000 followers.
Microinfluencers, with followers ranging between 10,000 to 100,000, were the fastest-growing group in the influencer marketing sector last year, showing a 30.5% growth rate. Other growth drivers include a shift in metrics from 'likes' to more tangible results like click-through rates, the legitimization of influencer marketing through education and industry events, and a trend towards more authentic and creative content.
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.”
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Who is QYOU Media?
QYOU Media specializes in creating, sharing, and earning revenue from content produced by social media influencers and digital stars across India and the United States.
The company crafts and shares high-quality content through various channels including TV networks, VOD, OTT platforms, mobile phones, and smart TVs. Beyond that, QYOU offers an expansive selection of content destinations, apps, and gaming platforms.
The core purpose of QYOU is to provide a dynamic entertainment platform to a young and growing Indian audience. Media buyers purchase ad space on this platform, allowing them to directly target this high-potential audience.
QYOU Media has seen sustained success with nine straight quarters of year-over-year revenue increases, reduced losses, improved adjusted EBITDA, award-winning channel growth, and partnerships with top-tier advertisers like Nestle, Pepsi, and Amazon.
The company's management team draws on extensive US entertainment industry expertise, with roots in leading companies like Lionsgate, MTV, Disney, and Sony, attracting exciting campaigns.
QYOU Media operates various business units in India, each targeting different aspects of the media and entertainment landscape. These include QYOU Media India Private Limited, which focuses on broadcast and Connected TV channels and owns 88% of the venture.
The company also owns 98% of Chtrbox Technologies and holds a 51% stake in Maxamtech Digital Ventures, which specializes in casual mobile gaming for both free and real-money play.
QYOU Media reaches over 125 million households weekly in India with The Q channels and gaming platforms, leads with its influencer marketing division Chtrbox in the creator economy, and has expanded into casual gaming with QGamesMela, leveraging its sizable Q India audience.
Additionally, QYOU Media is analyst-backed. Atrium Research has initiated coverage on QYOU Media Inc. with a BUY rating and target price of $0.15/share. This represents a potential 114% upside from the initiation date, Oct 27, 2023.
Find out everything you need to know about QYOU and its compelling investment opportunity.
