Los Angeles, California--(Newsfile Corp. - December 27, 2023) - VYRE Network (a leading free global streaming platform known for delivering next-generation movies, shows, and sports content, both live and on-demand and wholly owned Cabo Verde Capital company (OTC Pink: CAPV) the "Company" or "VYRE"), is pleased to announce the formation of vAfrica Media as a subsidiary of the streaming channel vAfrica. vAfrica Media is focused on amplifying to the world, the creativity of the underserved African entertainment market through film, TV, and live events with diverse monetization strategies.
vAfrica
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vAfrica will provide scale and reach for African producers who can deliver content to VYRE's diaspora-targeted audience, under a multi-phased strategy. The first phase of development for vAfrica Media will be building its distribution avenues for content. vAfrica will look to become a significant distribution arm for the growing African film industry, by pulling curated content from all countries throughout Africa. This will give vAfrica a vast collection of projects to stream globally.
The second phase of development will be to assist the African film industry in building up its infrastructure and resources for film and TV creators to become more creative, as well as being their direct resource.
The third phase of development will be to provide more green-lit original projects, not just in film and TV, but in music concerts, documentaries, and culture-forward visual content.
African cinema has revolutionized the world's view of the people and culture. The potential in the African film market remains untapped, even with the larger streaming companies entering the market. Having the streaming companies choosing a few pieces of content here and there, will not put a whole industry on the global stage.
"Africa has a wealth of beautiful stories that deserve to be seen through film and TV. I wish I had the opportunity to see the extent of what Africa had to offer instead of the stereotypical safari type of content that I saw growing up. VYRE now has the chance to present current African culture to a new generation, so they can experience and educate themselves about things beyond the city they are from." - David Hill Co-Founder of VYRE Network
VYRE sees that the next phase of its growth will be through its international content and media partnerships, with vAfrica Media at the head of the table. This direction targets the youngest population in the world, with 70% of sub-Saharan Africa under 30 and who consume their content on mobile devices. By 2030, young Africans are expected to constitute 42% of global youth. This means VYRE will have a vast pool of talent and an untapped audience who are the consumers and trendsetters of tomorrow.
The vAfrica channel will be monetized through VYRE Network's programmatic advertising, delivered by Publica, the leading independent CTV advertising platform system, along with strategic international programmatic partners. Our international growth plan, plus bringing international content to the United States, will enable advertisers to reach and align their brands with innovative content.
vAfrica will be available on the VYRE App starting January 15, 2023 on Roku, iPhone, Apple TV, Samsung TV, Amazon Fire, Android, and on the web at https://vafrica.tv.
ABOUT vAfrica Media
VYRE Africa "vAfrica" is a streaming channel aimed at amplifying the creativity of the underserved African entertainment market to the world, through film, TV, and live events with diverse monetization strategies.
vAfrica provides scale and reach to African producers who deliver content to VYRE's diaspora-targeted audience. vAfrica identifies and distributes projects from talented young media entrepreneurs through the VYRE App on Roku, iPhone, Apple TV, Samsung TV, Amazon Fire, Android, and the Web. vyrenetwork.com/vafrica
ABOUT VYRE NETWORK
VYRE Network is a free global streaming platform that delivers next-generation movies, shows, live sports, and live concerts to audiences worldwide through several niche channels. Since its launch in 2019, VYRE has consistently been a bridge between independent and mainstream entertainment for film creators and athletes. Users connect via the free to download apps on Apple TV, Roku, Amazon Fire Stick, Android, iPhone, Samsung TV's, and on the web. www.vyrenetwork.com
VYRE Network / Cabo Verde Capital, Inc.
Investor Relations
ir@vyrenetwork.com
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Forward-Looking Statements - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words estimate, project, intend, forecast, anticipate, plan, planning, expect, believe, likely, should, could, would, may or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
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