Mega Matrix Announces Inspiring Operating Metrics for the First Two Months of 2024
01 März 2024 - 10:20PM
Mega Matrix Corp. (NYSE American: MPU) (the “Company” or “MPU”)
today announced FlexTV’s operating metrics for the first two months
of 2024. Following FlexTV's rise to 8th position in the Apple App
Store Entertainment Top Charts (Free Apps, U.S.) in January 2024,
FlexTV has achieved impressive operational performance for the
first two months of 2024, which marked the successful acquisition
of FlexTV by MPU and the rapid growth of FlexTV’s short drama
business.
Highlights
- FlexTV's unaudited
top-up and subscription fee amount from the users in January and
February 2024 reached a total of $6.5 million, marking a 360%
increase compared to the total for November and December 2023.
We anticipate that the rate of growth will persist.
- The unaudited
revenue generated from FlexTV, including top-up, subscription and
advertising income, for January and February 2024 totaled
approximately $6.0 million, representing a 356% increase
over the total for November and December 2023.
- In the first two
months of 2024, several hit series were released, among which "Mr.
Williams! Madame is Dying" generated unaudited total user
top-up amount reaching $3.5 million.
Short dramas offer a distinctive storytelling format,
encapsulating narrative essence within brief time frames, usually
optimized for vertical viewing on mobile devices, spanning 1 to 3
minutes per episode. Integrated into series, each episode
contributes to complete storylines unfolding across 40 to over 100
episodes. Short dramas usually offer viewers a virtual escape,
presenting narratives that may resonate with emotions, and
fostering a sense of connection.
FlexTV has already formed a mature business model that
integrates content production, distribution, and operation. FlexTV
is available in more than 100 countries. Our production team film
in various locations including, but not limited to, United States,
Mexico, Australia, Thailand, and Philippines. We will continue to
expand our international markets and collaborate with local
partners in each major market.
Yucheng Hu, CEO of Mega Matrix Corp, said, “I'm proud to
highlight the incredible progress and achievements of FlexTV since
its integration into MPU. The start of 2024 has been phenomenal and
our optimism for MPU's Q1 outlook in fiscal 2024 is high. The
unique format and narrative efficiency of short dramas continue to
engage global audiences, providing immersive experiences and
emotional connections. The journey of FlexTV under MPU's guidance
has been extraordinary. With a dedicated team, innovative
strategies, and the support of our viewers and partners, we're not
just reaching but setting new industry benchmarks. I am excited
about our future and confident that the best for FlexTV and MPU is
yet to come. Together, we're not just part of the entertainment
streaming industry's evolution—we're at the forefront, shaping its
future.”
Preliminary Information
The unaudited financial and operational information presented in
this press release is preliminary and may change. MPU’s financial
closing procedures with respect to the estimated financial
information provided in this press release are not yet complete,
and as a result, the Company's final results may vary materially
from the preliminary results included in this press release. MPU
undertakes no obligation to update or supplement the information
provided in this press release until the Company releases its
financial statements for the three months ended March 31, 2024. The
preliminary financial information included in this press release
reflects the Company's current estimates based on information
available as of the date of this press release and has been
prepared by Company management. This preliminary financial and
operational information should not be viewed as a substitute for
full financial statements prepared in accordance with GAAP and is
not necessarily indicative of the results to be achieved for the
current and any future periods. This preliminary financial and
operational information could be impacted by the effects of
financial closing procedures, final adjustments, and other
developments.
About Mega Matrix: Mega Matrix Corp. is a
holding company located in Palo Alto, California with five
subsidiaries: Saving Digital Pte. Ltd., a Singapore corporation
(“Saving”), Mega Matrix, Inc., an exempted company incorporated
under the laws of the Cayman Islands, Mega Metaverse Corp., a
California corporation (“Mega”), Marsprotocol Technologies Pte.
Ltd., a Singapore corporation (“MTP”) and FunVerse Holding Limited
(“FunVerse”), a company incorporated under the laws of the British
Virgin Islands. The Company focuses on short drama business. For
more information, please contact info@megamatrix.io or
visit: http://www.megamatrix.io.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements in
this press release other than statements that are purely historical
are forward looking statements. When used in this press release,
the words "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose," and variations of these
words or similar expressions (or the negative versions of such
words or expressions) are intended to identify forward-looking
statements. These forward-looking statements are not guarantees for
future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside the Company's control,
that could cause actual results or outcomes to differ materially
from those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate future acquisitions; ability to grow and
expand our FlexTV business; ability to obtain additional financing
in the future to fund capital expenditures; fluctuations in general
economic and business conditions; costs or other factors adversely
affecting the Company's profitability; litigation involving
patents, intellectual property, and other matters; potential
changes in the legislative and regulatory environment; a pandemic
or epidemic; the occurrence of any event, change or other
circumstances that could affect the Company’s ability to continue
successful development of its digital assets staking business
model; the possibility that the Company may not succeed in
developing its new lines of businesses due to, among other things,
changes in the business environment, competition, changes in
regulation, or other economic and policy factors; and the
possibility that the Company’s new lines of business may be
adversely affected by other economic, business, and/or competitive
factors. The forward-looking statements in this press release and
the Company's future results of operations are subject to
additional risks and uncertainties set forth under the heading
"Risk Factors" in documents filed by the Company with the
Securities and Exchange Commission, including the Company's latest
annual report on Form 10-K, and are based on information available
to the Company on the date hereof. In addition, such risks and
uncertainties include the Company's inability to predict or control
bankruptcy proceedings and the uncertainties surrounding the
ability to generate cash proceeds through the sale or other
monetization of the Company's assets. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date of this press release.
Contact:
Info@megamatrix.io
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