QYOU Announces US$710,000 In New Influencer Division Contracts
QYOU Media (TSXV: QYOU) this morning announced that its Los Angeles, California based influencer marketing division has managed to secure US$710,000 in contracts over the course of September and October. Despite the theatre business being hit hard by the pandemic, QYOU has managed to continue to develop the division within the US market.
The new contracts come from undisclosed “major studios,” with the agreements being signed for a number of different operational segments, which include:
- Theatrical and Premium Video On Demand – Major motion pictures slated to be released directly to consumers at high purchase prices.
- Subscription On Demand – Direct to consumer content that is consumed by platforms such as Netflix, Hulu, HBO, etc.
- Advertiser Video On Demand – Free to consumer offerings that are supported by advertisements on platforms such as Roku, Pluto, Tubi and Peacock.
While previously focused largely on theatrical releases, the ensuing pandemic has enabled the company to diversify its influencer marketing division into these additional segments which previously were less of a focus for studios. The division is focused on deploying digital and social media stars from social media platforms such as YouTube, Instagram and TikTok to promote third party brands. These influencers are used to execute proven strategies that induce their followers to share content focused on key brand messaging to create virality.
“It came as quite a shock when the theatrical motion picture business came to a halt in March, particularly with our pipeline then pointing towards record breaking revenues. We are now seeing a major uptick in both secured business and a fast developing pipeline for future campaigns. The team and I are super excited to be back at it in a big way and look to a strong close to 2020 with great momentum moving into 2021”.
Glenn Ginsburg, President of QYOU’s Media Influencer Marketing Division
As oer a Business Insider Intelligence estimate, the influencer marketing industry is currently slated to be worth roughly $15 billion by 2022. QYOU as a result is looking to take a slice of this pie, capitalizing on the trend by using influencers to promote these third party brands.
QYOU Media last traded at $0.065 on the TSX Venture.
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