SYRACUSE, N.Y. and BETHLEHEM, Pa., Nov. 12, 2021 /PRNewswire/ --With millions of mostly international users around the world, Lomotif (the short form video social media application owned by a joint venture of ZASH Global Media and Entertainment (ZASH) and Vinco Ventures, Inc. (NASDAQ: BBIG) (Vinco)) is already a stronghold of international users, but has faced questions about its potential to engage a domestic U.S. user base. On the weekend of October 22nd, Lomotif leveraged its partnership with EDC Las Vegas as a proving ground in the U.S. cultural landscape, eyeing a U.S. launch in 2022. Partnering with megastars Lil Nas X and The Kid Laroi, Lomotif used its reach and frequency tool under AdRizer for a broad reach into U.S. social media culture and cross platform pollination, outperforming expectations across every metric and delivering record engagement. Vinco and ZASH recently announced a letter of intent to acquire AdRizer.
The EDC activation and partnership was Lomotif's biggest domestic push to date to build awareness of the Lomotif platform. Lomotif tested cross platform pollination between Lomotif and other major social media platforms, including TikTok and Instagram. The number of users reached and engaged far exceeded Lomotif's expectations:
- Over 150 influencers engaged and activated by Lomotif
- Reach of over 600 million followers and fanbases
- Over 51 million views on TikTok about Lomotif
- Over 40 million Instagram stories views featuring Lomotif
- #lomotif has over 350 million views on TikTok
- #nofomowithlomo recorded over 41 million views on TikTok in 3 days
During the EDC festival, Lomotif also arranged surprise appearances and performances from headliner superstars Lil Nas X and The Kid Laroi, as Ted Farnsworth (Chairman of Lomotif parent company ZVV Media Partners, LLC, a joint venture of Vinco and ZASH) and Olivia Rudensky (CEO and Founder of FANMADE) made the 11th hour arrangements for the artists to perform for fans live, with millions able to share the experience remotely. At showtime, Lil Nas X was charting as the #1 artist on US Billboard Hot 100 and the #3 artist on Billboard's international Top 200, while The Kid Laroi was charting #1 internationally on Billboard and #2 on Billboard's US Hot 100. Lil Nas X shared a video of his performance on TikTok using #lomotif; that video alone recorded 7.5 million views on TikTok. Lomotif was chosen as an official streaming partner for the world's largest EDM festival alongside YouTube, Twitch, TikTok and Roblox. Lomotif streamed all performances on kineticFIELD, the main stage at EDC, including the performances by Lil Nas X and The Kid Laroi.
Beyond the cultural impact of the Lil Nas X and The Kid Laroi performances, EDC was a large scale testing ground for different initiatives through Lomotif and other companies within the ZASH ecosystem. ZASH tested cross platform pollination on platforms such as TikTok and Instagram, bringing cultural awareness to Lomotif as well as pointing the users of more entrenched platforms to Lomotif through exclusive content initiatives, including exclusive behind the scenes interviews with Lil Nas X, The Kid Laroi and other leading artists. After activating 150 top influencers during EDC Las Vegas, ZASH and Lomotif are continuing to build relationships with top artists and influencers across all platforms, who are expected to work in complement to the [social media accelerator platform] under AdRizer to amplify and substantiate Lomotif's reach.
"We received 57 million views on Instagram - all EDM or Lil Nas X fans, users that share similar interests," remarked Mr. Farnsworth. "This is the beginning of a powerful, engaged community on Lomotif," Mr. Farnsworth continued.
ZASH's beta test was also done in partnership with Socialkyte, one of the largest social media platforms for influencers in India and surrounding regions, and home to over 90,000 leading influencers. Socialkyte hosted a live streaming party at Bo Tai Switch in New Delhi, promoting Lomotif's EDC live stream to hundreds of millions of users. This was the first time Socialkyte has engaged with a US company to test any type of social media reach and frequency for a live streamed event, driving record engagement across the platform. Socialkyte's fan base spans 1.3 billion users across the globe, with the majority coming from India and surrounding nations.
Lomotif believes its social media accelerator, through AdRizer, will allow scalable monetization through this social media reach and frequency tool. This tool is expected to allow users to buy ads for as low as five dollars each to boost their personal pages, or for small businesses to market to hyper specific demographics and geographical regions anywhere in the world. Lomotif expects that advertisers on Lomotif will be able to control of how often the ads are served to different target audiences, when and where the ads will be served, and the ability to track their results and quickly adjust to real-time data.
"There's still work to be done to bring this tool to market, but knowing we can reach both broad and hyper specific demographics with peak reach and dynamic frequency, we believe this reach and frequency tool will facilitate advertisers to share their stories powerfully on our platform, as well as become an integral part of advertisers reaching users through other social platforms and digital advertising platforms and SEO optimization," continued Farnsworth. "We believe this is an industry leading, highly adaptable advertising tool that we expect will enable robust and scalable revenue streams, as we continue to expand our global reach."
Lomotif's EDC partnership and its associated reach and frequency beta test come in pursuit of greater engagement and are expected work hand in glove feeding potential advertisers to have the greatest relevance, reach and cost efficacy in their ad campaigns.
Lomotif also utilized its partnership with EDC to launch LoMo TV - an entertainment and lifestyle network offering original programming within the Lomotif app. During EDC, LoMo TV featured exclusive backstage content and interviews at the concert, as well as an exclusive performance from Lil Nas X and a new song debuting from the superstar artist. As a full time entertainment and lifestyle TV network, LoMo TV will run on Lomotif and plans to launch on linear TV. LoMo TV featured social media personality Matt Peterson (mattpeterson_), and hundreds of popular digital influencers backstage at EDC giving viewers exclusive interviews and content throughout the weekend.
LoMo TV is Lomotif's most recent brand extension, following the launch of LoMo Records, the L.A. based independent immersive record label. Continuing its mission to empower independent artists and creators, LoMo Records is partnering with artists and creators to provide expert label services and global distribution to breaking new talent from the Lomotif platform and work with other music labels. LoMo Records leverages ZASH and Lomotif's entire ecosystem including significantly expanding the artists global reach through their social media accelerator platform under AdRizer. LoMo Records bridges the gap between the traditional music standards and the emerging creator economy.
Lomotif is a popular video-sharing social networking platform. One of the fastest growing video-sharing social networking platforms in its category over the last three years, there are currently 225+ million installations of the Lomotif app globally in 200+ countries in 300+ languages. Over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 740+ million videos on the platform since its launch. To watch EDC 2021 on the Lomotif platform, users can download the app on the Apple Store or Google Play for Android.
About Lomotif
Lomotif is a video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents focused on empowering creators to share and watch short videos with ease through remix and collaboration. Yang's vision is to build the world's largest video vocabulary to accelerate the world's transition to video-first expression. Lomotif, available in the Apple and Google stores, is a downloadable app that has grown worldwide as a grassroots social community with dedicated users spanning from Asia to South America to the U.S. For additional information about Lomotif, please visit Lomotif's website at www.lomotif.com.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (BBIG) ("Vinco") is focused on the development of digital media and content technologies. Vinco's consolidated subsidiary, ZVV Media Partners, LLC, a joint venture of Vinco and Zash Global Media and Entertainment Corp. ("Zash"), has an 80% ownership interest in Lomotif Private Limited. Vinco and Zash have announced their plan to complete a merger transaction. For more information visit investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains "forward-looking statements" as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which are based upon beliefs of, and information currently available to, Vinco's management as well as estimates and assumptions made by Vinco's management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," "intend," "believe," "plan," "anticipate," "projected," and other words or the negative of these terms and similar expressions as they relate to the applicable company or its management identify forward-looking statements. Such statements reflect the current view of Vinco with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Lomotif and ZASH's industry, operations and results of operations. Such factors include, but are not limited to, uncertainties as to the completion and timing of the merger between Vinco and ZASH and Vinco's expected acquisition of AdRizer, the expected financial benefits of Lomotif's acquisition of and partnership with AdRizer, the expected financial benefits of Lomotif's participation in and partnership with live entertainment events such as EDC, and such other risks and uncertainties described more fully in documents filed by Vinco with or furnished to the Securities and Exchange Commission, including the risk factors discussed in Vinco's Annual Report on Form 10-K for the period ended December 31, 2020 filed on April 15, 2021, and Vinco's Quarterly Reports on Form 10-Q filed thereafter, which are available at www.sec.gov. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although each company believes that the expectations reflected in the forward-looking statements are reasonable, the companies cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, neither company intends to update any of the forward-looking statements to conform these statements to actual results.
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