Moovly Provides Corporate Update Detailing Unprecedented Growth
Vancouver, British Columbia--(Newsfile Corp. - October 21, 2021) - Moovly Media Inc. (TSXV: MVY) (OTC Pink: MVVYF) (FSE: 0PV2) ("Moovly" or the "Company") is pleased to provide the following corporate update, which includes many unprecedented achievements.
Moovly CEO Brendon Grunewald said, "We took the decision earlier this year to focus on integration partner and indirect sales channel business development as well as multinational enterprise sales, and I'm glad we are seeing very positive results from these efforts. We have added sales and marketing people to our team who are skilled, efficient, and focused on accelerating our growth in these areas. We are also particularly encouraged by the fact that all of the larger deals Moovly won were in the context of a competitive bid process. To my mind, that says everything about Moovly's superior product offering."
Over the past fiscal year (October 1, 2020 - September 30, 2021) the business has executed its stated strategy and is pleased to provide the following fiscal year metrics, detailing this unprecedented growth.
Users and Usage:
- Total Registrations increased by over 15% to nearly 4 million;
- Videos produced increased by nearly 21% to over 4 million;
- 52% increase in use of Moovly's Gallery product allowing for showcasing of user videos;
- 34% growth in use of Vimeo; and
- 40 % growth in use of YouTube.
Enterprise and Education Sales:
- Number of enterprise corporate accounts increased by 58% (to the current total of 38). Each of these accounts has at least 5 Moovly users, with several having hundreds of users. Management anticipates continued growth in users within each of these corporate entities - adoption within the entity over time is a common phenomenon, witnessed previously with other Moovly clients.
- In September 2021, Moovly signed its largest enterprise purchase order in company history. This is a multi-year agreement, disclosure of the party is constrained by an NDA.
- Corporate clients are increasingly willing to pay for ancillary Moovly products such as Backoffice and other workflow features.
- Full deployment of Moovly at a university with more than 80,000 staff and students, opening the door to Moovly installations at other similar institutions.
Business Development, Partnerships, and Integrations:
- Reseller partnerships grew by 600% (currently 12)
- Revenue from partners increased by 520%
- Pipeline from partners: >$1M in potential deals for the coming fiscal year
- Increase of integrations by 227% (from 11 to 25)
- 52% growth in video integrations
- Increased traction within marketing agencies using the Automator to deliver cost-effective video solutions to clients, using Moovly as their preferred technology partner - rapid adoption of the Agency Group Subscriptions offering (929 groups vs 0)
- Capital Raised: CAD 5.3M
- Powerful addition to the Moovly sales and marketing head count, resulting in metrics as set out above, total Moovly team now 19.
Looking for more info.
- Moovly [www.Moovly.com]
Moovly is the leading provider of creative cloud-based tools to create compelling marketing, communications and training videos and video presentations. Moovly's advanced Studio Editor with millions of assets seamlessly integrated (via partnerships with Getty Images & Storyblocks) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly's API and Automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy league universities, Moovly is an intuitive, cost effective choice for DIY creation of engaging video-based content.
"Your story begins with Moovly"
President, CEO and Director
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information with respect to Moovly's future business plans and the expected benefits of its products. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although 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 because the Company can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Moovly's inability to continue to commercialize its products or demand for its products decreases or disappears. Other risk factors are set forth in detail in the Company's Management Discussion and Analysis dated June 30, 2021 which is available for review under the Company's corporate profile at www.sedar.com. Some other risks and factors that could cause the results to differ materially from those expressed in the forward-looking information also include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, unanticipated operating events; failure to obtain any necessary third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital and skilled personnel; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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