NEW YORK, July 14, 2022 /PRNewswire/ — Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), a creator-first holding company and the parent company of Vocal, today confirmed its revenue guidance.
Commented Creatd’s CEO Laurie Weisberg, “Our Q2 results demonstrate 15% revenue growth quarter-over-quarter, including a 134% revenue increase within Creatd Ventures, our consumer product segment, despite ongoing supply-chain disruptions. We maintained relatively consistent revenues across our remaining business lines, despite facing the headwinds caused by market conditions. We can confidently confirm guidance of $7MM in revenues this year, before accounting for additional opportunities that we expect our expansion plan will unlock.”
Second Quarter 2022 Business Highlights
- Creatd Ventures experienced its second consecutive quarter of revenue growth, reaching several sales milestones across its portfolio of health, wellness, and lifestyle brands, including:
- Basis, the wellness brand that makes hydration mixes, is expected to report nearly $400K in sales in its first full quarter under Creatd Ventures. After its launch on Amazon’s Prime Day program, Basis generated record sales with 0 marketing spend.
- Dune Glow Remedy, the Company’s healthy beverage brand, recently surpassed 100,000 bottles sold across both brick-and-mortar wholesale and online marketplace distribution channels.
- Camp, Creatd’s owned-and-operated healthy food brand, has expanded its online distribution channels, launching on Amazon and crossing a sales milestone of 60,000 boxes sold.
- Creatd Ventures is currently in active discussions with DTC brands for future potential acquisitions, with target profiles in alignment with Creatd Ventures’ existing portfolio.
- Creatd Labs continues to grow Vocal’s traction across numerous key performance metrics. Ongoing product enhancements continue to further cement Vocal’s position as a home base for creators looking to share their content and get rewarded.
- Since shifting marketing focus from monthly to annual subscriptions, Vocal plus membership has grown rapidly, demonstrating a higher creator lifetime value.
- Since the introduction of the Comments feature in May of 2022, there have been over 25,000 comments exchanged between creators and their audiences on the platform. These interactions work to deepen the engagement between creators and their audiences and enhance the platform’s overall social connectivity.
- The Company continues to advance its moderation practices and integrate new technology partners—including the Microsoft-owned Two Hat—in its ongoing effort to protect platform safety and ensure all user-generated content on Vocal adheres to community guidelines.
- Since Creatd’s acquisition of the WHE Agency in Q2 of 2021, the Company has continued to consolidate Creatd Partners’ product offerings and clients, allowing focus to shift towards maximizing its sales efforts and higher-value brand deals. Creatd Partners has expanded its relationships with key clients to include brands like Universal Pictures, Nike, five CBD, Target, Alfa Romeo
- As previously announced, Creatd Studios is currently in development of a slate of productions planned during 2022, and continues to explore new potential production partners as well as identify future transmedia production opportunities for Vocal’s creators. Creatd Studios’ 2022 production slate includes the release of Vocal’s first-ever podcast, hosted by Erica Wagner, a print publication featuring a selection of Vocal stories, graphic novel development and production, the film adaptation of No One’s Pet, and more.
- The Company has continued its efforts to maximize the expected value created through the proposed spin-off of the OG Collection, Creatd’s wholly-owned library of legacy media assets originating from Bob Guccione’s estate.
- The Company has assembled an advisory board to spearhead the appraisal of the collection, and to uncover creative opportunities embedded within it. The board comprises a number of highly skilled archivists, curators, and researchers who will lead the curation, cataloging, documentation, and research of the media assets.
- The OG Collection is not currently valued on the Company’s balance sheet based on purchase price accounting guidance, despite its physical assets having been independently appraised at as much as $10MM. Upon its completion, the spin-off should immediately strengthen the Company’s overall balance sheet.
- The OG Collection maintains a diversified Web 3.0 portfolio including cryptocurrencies, NFTs, and Decentraland plots, the majority of which were purchased in the last 30 days.
- The Company has announced its first-ever Investor Day taking place on July 21st, 2022. The presentation will showcase the first look at the Vocal mobile app for iOS, as well as provide updates on the Company’s strategic initiatives across all four business pillars.
- Operating expenses are expected to remain relatively flat year over year, prior to accounting for stock-based payments. Additionally, marketing spend across all business lines continues to decrease.
Creatd, Inc. (Nasdaq CM: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. The Company has four main business segments, or ‘pillars’: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios. Each pillar is characterized by a distinct revenue model, while operating on a shared-services structure and audience insights collected through our technology platforms. Creatd’s pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.
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