QYOU Media (TSXV: QYOU) appears to be firing on all cylinders in a big way. The company this morning significantly increased its second calendar quarter 2021 guidance, along with its guidance for the full fiscal year. The move follows the firm seeing growth in all areas of its operation.
Guidance for the quarter ended June 30, which was previously pegged at $2.0 million, has now been increased by 30% to $2.6 million at minimum. The range for revenues is now officially pegged at $2.6 to $2.7 million, compared to the prior $2.0 to $2.3 million.
The increase follows reportedly record advertising sales from April through June on The Q India. What’s more, is that July ad sales are currently set to result in a fourth consecutive month of record sales. The firm is expecting the increased revenues to continue through to the end of the year as well, with synergies from the recent acquisition of Chtrbox, as well as the the reopening of the United States expected to drive further sales growth in its influencer marketing subsidiaries.
“We are executing our strategy in India. Great content partners creating hit shows. Great distribution partners driving audience growth. Great brands driving rising ad and influencer marketing revenue. We are firing on all cylinders as we head into the second half of the year and are just now beginning to see the positive revenue impact from our spectacular ratings run. We have yet to launch new programming, distribution and marketing efforts that we expect to build on our revenue growth and status as India’s fastest growing youth-oriented channel.”
Curt Marvis, CEO
The announcement follows the firm receiving exclusive rights to five new comedy series for its flagship channel in India. As addressed by Curt Marvis, these programs have yet to launch on the platform and are expected to drive further growth for the company.
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Qyou Media last traded at $0.335 on the TSX Venture.
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