Gamelancer Media Revenue Exceeds Q1 Guidance; Reports Fiscal Year 2022 Audited Financials

TORONTO, ON / ACCESSWIRE / May 2, 2023 / Gamelancer Media Corp (CSE:GMNG)(OTCQB:GAMGF)(FRA:P93) (Gamelancer or the ‘Company') a media-production, entertainment & distribution company is pleased to report that it has surpassed its previously provided management reviewed guidance on Snapchat revenues for Q1, marking a strong start to the fiscal year 2023.

In fiscal year 2022 Gamelancer generated total revenue of $3.5 million, having only run its first direct media campaign on the Gamelancer TikTok network in June of that year, click HERE to view. Gamelancer Media generates revenue through its "creative + distribution" model, providing customers short-form and long-form video production, and broadcast of that video with targeted distribution to specific demographics across the Gamelancer Media network. Owning one of the largest networks globally on TikTok and Snapchat, with significant channel growth on Instagram, Gamelancer's extensive network comprises 54 channels that collectively engage over 39 million followers and subscribers.

Q1 Management Reviewed Financials

Gamelancer has exceeded its Q1 2023 revenue forecast for Snapchat. Management had projected revenues of $542,804.61 CDN, but the actual revenue generated by the Company for the quarter was $621,827.38 CDN*, representing a significant 14% increase over the forecasted numbers. This achievement demonstrates the Company's ability to effectively execute its strategic initiatives and capitalize on emerging opportunities in the digital media space. It is important to highlight that Q1 is historically a period of lower ad-spend in the media industry, which makes Gamelancer's achievement of exceeding its Q1 2023 revenue forecast for Snapchat even more noteworthy.

2022 Fiscal Year

Gamelancer reported total revenues of $3,564,211 in 2022, representing an impressive 1806% increase from the previous fiscal year. Gross margins also saw a substantial improvement, increasing to 66% compared to 57% in Fiscal Year 2021.

The Company reported a net loss of $(10,708,209) for the fiscal year 2022, a majority of which was incurred in Q1 and Q2. The net loss includes expenses related to various growth and development initiatives, such as the acquisition of JoyBox Media and Gamelancer Inc. in Q2 by Wondr Gaming, which was then rebranded as Gamelancer Media Corp. The net loss includes non-cash expenditures including Share-based payments, Depreciation and Amortization and Impairment loss which can be attributed to the divestiture of the NFT platform and the development of the loyalty program. The divestment of the NFT platform and loyalty program development were part of the Company's strategic efforts to streamline its operations to drive profitable revenue and focus on its core media-production, entertainment, and distribution business.

Gamelancer remains committed to its long-term vision of delivering innovative and high-quality content to its audience. With its continued focus on driving growth and maximizing efficiency, the Company is confident in its ability to deliver value to its stakeholders and generate sustained success as outlined in its 2023 guidance announcing forecasted revenue of $8.6 million and EBITDA positive in a press release dated April 3, 2023.

"Our 2023 guidance projects positive EBITDA, with earnings of $8.6 million. Surpassing our Q1 management reviewed revenue forecast for Snapchat demonstrates that we are still unlocking the upside value of our owned and operated channels. Finding new opportunities to monetize our media inventory remains our long-term vision, and through delivering scalable short and long-form video content to our Gen Z and Millennial audiences, we find efficiencies weekly to deliver more video content across our channels. The company is growing our Over The Top (OTT) offering on other platforms as we continue to find success with Snap, focusing on growth and efficiency to seize opportunities in new, underserved markets. We are excited about the future prospects and the value we will create for our stakeholders, as we continue to push boundaries and expand our reach in the digital media space." - Jon Dwyer, Gamelancer Media, Chairman and CEO

About Gamelancer

Acquired by Wondr Gaming, Gamelancer Media Corp. a media-production, entertainment & distribution company with broadcast on its 54-channel owned and operated TikTok, Snapchat, and Instagram network. Gamelancer Media will focus on developing new brand, agency, and creator relationships and new opportunities for existing associates through its strategic partnerships with TikTok North America, Snap Inc., and Dubit in the UK. The media company currently works with companies such as Samsung, Belkin, Celsius, and several other notable brands. The company produces and distributes content across its extensive network to over 39 million followers & subscribers, generating over 2 billion monthly video views and growing by over 1.5 million new followers monthly. A majority of the Gamelancer's audience are located in the USA, Canada, the UK, and Australia.

With advanced user data analytics, Gamelancer provides its audience with content relevant to the Gen Z & Millennial respective communities. Gamelancer owns the largest gaming media inventory on TikTok. Gamelancer also monetizes across its Snapchat Discover channels in partnership with Snapchat.

Gamelancer is 59% insider owned, calculated as of April 2023.

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For further information, please contact:

Jon Dwyer, Chairman and Chief Executive Officer
Tel: (416) 627-8868
Email: ir@gamelancer.com
IR Email: info@gamelancer.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

^{*Although the exchange rate of $1.33 CDN/USD was used to calculate both the forecasted and actual Q1 revenue, please note that this rate is subject to change upon audit.}

SOURCE: Gamelancer Media Corp.