VINCO VENTURES SEES MORE THAN 30% INCREASE IN DAILY REVENUE FROM BETA TEST OF NEW AND EXCLUSIVE USER-GENERATED CONTENT PLATFORM
Also Announces Expansion of User-Generated Content Verticals in News,
Celebrity News, Travel, Fashion and Beauty, and True Crime
ROCHESTER, N.Y., March 13, 2023 /PRNewswire/ -- Vinco Ventures, Inc. (Nasdaq Capital Market: BBIG), a technology company specializing in converting content to digital and social platforms, today announced it has completed a 90-day beta test of an exclusive user-generated content (UGC) platform resulting in significant increases in new active users and advertising impression delivering an increase of more than 30% in average daily revenue over the test period.
"The results from the addition of the exclusive user-generated content platform exceeded our initial expectation and proves that the addition of new and engaging content to our technology platforms is capable of delivering real results," said Vinco Ventures Executive Chairman of the Board Rod Vanderbilt. "We believe that we are uniquely positioned to continue to leverage our platforms for the rapidly growing creator economy and well-poised to help our business partners engage even more deeply with expanding audiences across various platforms."
Tapping into the rapidly growing creator economy, the 90-day test of UGC content across its portfolio of media brands connected premium advertising partners to a highly engaged audience and resulted in the addition of 23 million new active users and more than 1.5 billion advertising impressions. The extraordinary engagement with the new content vertical delivered an increase of more than 30% in average daily revenue over the 90-day period.
As a result of the overwhelming response and success of the UGC beta test, Vinco Ventures also announced the immediate expansion of additional UGC content verticals across its portfolio including breaking news, celebrity news, travel, fashion and beauty, and true crime.
About Vinco Ventures
Vinco Ventures, Inc. (Nasdaq: BBIG) is focused on the development of digital media and content technologies. 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 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 press release 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 identify forward-looking statements. Such statements reflect the current view of Vinco's management with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Vinco and its consolidated subsidiaries and variable interest entities, including Lomotif, AdRizer and Honey Badger, and their respective industries, financial condition, operations and results of operations. Such factors include, but are not limited to, uncertainties as to the expected benefits from Vinco's investments in Lomotif, AdRizer and Honey Badger and related growth initiatives including integration of the AdRizer platform with Lomotif and synergies between AdRizer, Lomotif and Honey Badger, 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, 2021 filed on April 15, 2022, and Vinco's Quarterly Reports on Form 10-Q filed thereafter including the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 filed on May 23, 2022, 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 Vinco believes that the expectations reflected in the forward-looking statements are reasonable, Vinco cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, Vinco does not intend to update any of the forward-looking statements to conform these statements to actual results.
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SOURCE Vinco Ventures
Released March 13, 2023