LONDON, UK / ACCESSWIRE / May 12, 2024 / CONTI, one of the world's leading streaming platforms, today released its first quarter 2024 financial report. The report shows that CONTI achieved solid financial performance in the past quarter, with net profit reaching a new high and revenue continuing to grow, laying a solid foundation for the company's future development.

According to the financial report, CONTI achieved total revenue of US$19.6 million in the first quarter of 2024, a slight increase compared to the previous quarter. Among them, subscription service revenue reached $8.5 million, advertising revenue was $3.2 million, copyright revenue was $4.6 million, derivative revenue was $1 million, and digital media revenue was $2.3 million. The company's total expenses compared to revenue were $8.4 million, including publicity and marketing expenses, copyright and licensing fees, distribution expenses, administrative expenses and other expenses.

The financial report also showed that CONTI achieved significant growth in net profit, reaching $11.2 million, an increase of 12% from the previous quarter. This performance reflects the company's steady business growth and effective cost control. The company expects to further increase subscription services, advertising and copyright revenue in the future, and will continue to strengthen cost management to maintain good profit margins.

CONTI's Chief Financial Officer said: "We are very pleased with our results for the first quarter of 2024. Our revenue continued to grow and net profit reached an all-time high, demonstrating the strong performance of our business and the potential for sustainable growth. We will continue to We are committed to providing high-quality streaming services, expanding our user base, and creating more value for our shareholders."

In addition, CONTI also announced its business forecast for the full year 2024. The company expects to continue to increase investment in subscription services, advertising and copyright revenue, and further increase digital media and derivatives revenue. At the same time, the company will continue to strengthen cost management to ensure the sustainable development and profitability of the business.

CONTI joins hands with the 2024 Paris Olympics to create a sports legend

As a leading streaming media platform, CONTI recently announced that it will work closely with the Paris Olympic Games to bring users an unprecedented sports feast. In this in-depth cooperation, CONTI will actively strive for more advertising cooperation to provide wider exposure opportunities for the Paris Olympics.

In addition to cooperating with organizers, CONTI has also conducted in-depth business negotiations with a number of well-known companies to jointly discuss the future development trends of the streaming media industry and provide users with richer content and better experiences.

During the Olympic Games, CONTI will capture the wonderful moments of each athlete and plans to produce a series of inspirational autobiographical films to tell the story of each Olympic champion. Every Olympic Games breeds countless legends and continues the spirit of sports. CONTI will present these touching stories with heart to inspire more people to move forward and chase their dreams.

Utilizing the powerful big data analysis capabilities of the CONTI platform, we will provide viewers with event data analysis to help users gain a deeper understanding of each game and athlete performance. At the same time, we will also set up a special area for the 2024 Olympic Games to integrate Olympic-related music, movies, sports events and other content to create a one-stop Olympic experience for users.

Looking to the future, CONTI will continue to increase investment in content production, technology research and development, and marketing to further enhance user experience and expand market share. CONTI expects to continue its solid growth in 2024 as its user base grows and its content library expands.

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SOURCE: CONTI