MiMedia Corporate Update: Business Positioned for Acceleration in 1H 2024 and Strong Growth in 2024
- Beginning in Q4 2023, we have now integrated with several of our partners onto hundreds of thousands of smartphones and tablets already shipped to stores in multiple countries or that soon will be shipped to stores in more countries over the next two quarters.
- Integration onto these devices has been quick and seamless on the
MiMedia side, with no complications. - We await the sell-through of these devices to consumers at retail stores or online.
- By nature of the way
MiMedia integrates onto these devices, consumers become users ofMiMedia's platform on Day #1 of device purchase, after whichMiMedia can deploy multiple revenue streams, including storage subscriptions and mobile advertising, immediately or at any time thereafter.
- By nature of the way
- We are also pleased to report that
MiMedia's OEM partner Orbic showcased, at theCES and Mobile World Congress conferences this quarter, nine (9) new smartphone and tablet devices to be launched this year globally inAustralia , APAC,India andNorth America regions. Initial launch of these devices is expected to start in Q2 2024, wherebyMiMedia will be integrated onto all new devices. Volumes for these devices are not public butMiMedia is thrilled to be part of these launches and the strong growth expected by Orbic for 2024. - We are working on integration with other contracted partners and plan to be in-market with them in the next two quarters.
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MiMedia is also scheduled for a deployment next week to 30K smartphones in the field that either consumers own and use today or reside at stores for purchase. Representing a significant technical achievement for the Company, this new deployment approach features the same depth or level of integration that the Company achieves when integrating onto new smartphones as the devices are being built. As such, this integration capability dramatically widensMiMedia's addressable field of devices for integration and quickens the time to conduct and deploy an integration. WhileMiMedia previously conducted successful smaller tests of this new deployment capability, this soon and upcoming deployment will represent our biggest to date. - The Company is currently planning and working on larger deployments of this type in the coming weeks with several of our partners.
- With sell-through of new devices expected to pick-up in Q2 via targeted marketing campaigns as well as continued deployment campaigns to existing devices already in field, engagement metrics have started to build this quarter and will further build and create a foundation of engaged users to which
MiMedia can offer and apply its revenue streams of storage subscriptions and mobile advertising. - With regards to our business development pipeline,
MiMedia is quickly progressing toward signing contracts with several large and established smartphone device and telcos prospective partners in theAmericas . - The Company's attendance at the CES conference in
Las Vegas and the currentMobile World Congress inBarcelona in Q1 has added a number of leads into our partner pipeline. Management expects to convert these leads to several new signed partnerships that will meaningfully impact our trajectory of devices contracted to deploy withMiMedia this year. As a reminder, the Company has been contracted to deploy on 31M devices with its signed partnerships over the next 22 months. - Now that the traditional industry slow season bridging Q4 and Q1 is coming to an end, management expects the continuation and deepening of the traction and progress made over the last six months, especially given our expanding pipeline.
- The Company looks forward to keeping the market informed of this progress as we position the business for an exciting and breakout year in CY 2024.
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