NEW YORK, Feb. 29, 2024 /CNW/ – Writing from Mobile World Congress in Barcelona where we attended the most relevant conference for our industry, MiMedia Holdings Ltd. (TSXV: MIM) (“MiMedia”, “Company”) would like to provide this corporate update on the state of the business and the progress made over the last six months.
Beginning in Q4 2023, we have now integrated with several of our partners onto hundreds of thousands of smartphones and tablets already shipped to stores in multiple countries or that soon will be shipped to stores in more countries over the next two quarters.
Integration onto these devices has been quick and seamless on the MiMedia side, with no complications.
We await the sell-through of these devices to consumers at retail stores or online.
By nature of the way MiMedia integrates onto these devices, consumers become users of MiMedia’s platform on Day #1 of device purchase, after which MiMedia can deploy multiple revenue streams, including storage subscriptions and mobile advertising, immediately or at any time thereafter.
We are also pleased to report that MiMedia’s OEM partner Orbic showcased, at the CES and Mobile World Congress conferences this quarter, nine (9) new smartphone and tablet devices to be launched this year globally in Australia, APAC, India and North America regions. Initial launch of these devices is expected to start in Q2 2024, whereby MiMedia will be integrated onto all new devices. Volumes for these devices are not public but MiMedia is thrilled to be part of these launches and the strong growth expected by Orbic for 2024.
We are working on integration with other contracted partners and plan to be in-market with them in the next two quarters.
MiMedia is also scheduled for a deployment next week to 30K smartphones in the field that either consumers own and use today or reside at stores for purchase. Representing a significant technical achievement for the Company, this new deployment approach features the same depth or level of integration that the Company achieves when integrating onto new smartphones as the devices are being built. As such, this integration capability dramatically widens MiMedia’s addressable field of devices for integration and quickens the time to conduct and deploy an integration. While MiMedia previously conducted successful smaller tests of this new deployment capability, this soon and upcoming deployment will represent our biggest to date.
The Company is currently planning and working on larger deployments of this type in the coming weeks with several of our partners.
With sell-through of new devices expected to pick-up in Q2 via targeted marketing campaigns as well as continued deployment campaigns to existing devices already in field, engagement metrics have started to build this quarter and will further build and create a foundation of engaged users to which MiMedia can offer and apply its revenue streams of storage subscriptions and mobile advertising.
With regards to our business development pipeline, MiMedia is quickly progressing toward signing contracts with several large and established smartphone device and telcos prospective partners in the Americas.
The Company’s attendance at the CES conference in Las Vegas and the current Mobile World Congress in Barcelona in Q1 has added a number of leads into our partner pipeline. Management expects to convert these leads to several new signed partnerships that will meaningfully impact our trajectory of devices contracted to deploy with MiMedia this year. As a reminder, the Company has been contracted to deploy on 31M devices with its signed partnerships over the next 22 months.
Now that the traditional industry slow season bridging Q4 and Q1 is coming to an end, management expects the continuation and deepening of the traction and progress made over the last six months, especially given our expanding pipeline.
The Company looks forward to keeping the market informed of this progress as we position the business for an exciting and breakout year in CY 2024.
About MiMedia: MiMedia Holdings Inc provides a next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The company’s platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world.
Notice regarding forward-looking statements: This release includes forward-looking statements regarding MiMedia, and their respective businesses, which may include, but is not limited to, statements with respect to the completion of a Transaction, appointment or any other decision made by the business. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of MiMedia. The for-ward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the MiMedia industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MiMedia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE MiMedia
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