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 /PRNewswire/ - 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."
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
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SOURCE QYOU Media Inc.
