Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the “Company” or “Jerrick”), today announced the replatforming of its flagship product Vocal, providing the creators greater tools to create, publish and monetize content. Key platform improvements include a new, more flexible Editor, compliance with Apple’s Intelligent Tracking System (ITP) solution, faster content moderation, and Stripe integration updates to make it easier for creators to get paid and for their audiences to tip them. Over the past few years, Jerrick has executed on key milestones to drive engagement with creators and create revenue opportunities. Earlier this year, the company launched its subscription offering, Vocal+, and already has passed 1,200 paying subscribers.
Said Justin Maury, Jerrick’s President and Head of Product, “Since the launch of Vocal in 2016, over 470,000 creators have joined the platform to create a global community for storytelling. We aspire to be the leading creator-centric platform and have spent the past three years listening to our creators. The enhancements introduced with Vocal 2.0 are the product of our partnership with creators and enables us to deliver a best-in-class experience. On the Vocal platform, creators of all shapes and sizes have shared stories that have entertained, educated, shocked and moved us. Vocal makes it easier for writers, musicians, podcasters, videographers, bloggers and creatives of all types to get discovered and fund their creativity.”
Vocal+ has attracted over 1,200 subscribers since introduction in late second quarter. The Company expects that Vocal+, which provides increased monetization and discovery opportunities for Vocal creators, will continue to attract new customers to the platform and rapidly increase recurring revenue. A broader, more comprehensive subscription model is expected to be introduced later this month.
Said Jerrick CEO Jeremy Frommer, “We are seeing an acceleration in branded content sales, specifically with clients in direct-to-consumer spaces such as food, beauty and wellness. With the continued growth of creator subscriptions, as well as the expected closing of the Seller’s Choice acquisition later this month, I expect combined 4th quarter revenues to be in the $300,000-$400,000 range, representing an exponential increase above previous quarters.”
Jerrick is a holding company that develops technology-based solutions. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators by providing them with publishing tools and monetization features that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal’s community sites are managed by a dedicated team, whose primary focus is on creating safe communities and identifying monetization opportunities within them.
For more information please review Jerrick’s Investor Presentation: https://jerrickmedia.docsend.com/view/6pdcppw
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This press release may contain certain “forward-looking statements” relating to the business of Jerrick Media Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. These statements include, but may not be limited to, those relating to the Tender Offer, and the transactions expected to be engaged in in connection with the Tender Offer. In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made. These include risks associated with the transactions contemplated by the Tender Offer, including but not limited to risks related to the failure to close the transactions contemplated by the Tender Offer, and other risks, uncertainties and other factors described in the Company’s quarterly reports on Form 10-Q and annual reports on Form 10-K and in Company’s other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements to reflect subsequent events or circumstances or actual outcomes. Actual results could vary materially depending on such risks and uncertainties that may affect the Company and its business.