Vocal re-platforming to drive subscription revenue and product updates.
FORT LEE, N.J., Sept. 5, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), today announced the replatforming of its flagship product Vocal, providing the creators greater tools to create, publish and monetize content. Key platform improvements include a new, more flexible Editor, compliance with Apple's Intelligent Tracking System (ITP) solution, faster content moderation, and Stripe integration updates to make it easier for creators to get paid and for their audiences to tip them. Over the past few years, Jerrick has executed on key milestones to drive engagement with creators and create revenue opportunities. Earlier this year, the company launched its subscription offering, Vocal+, and already has passed 1,200 paying subscribers.
Said Justin Maury, Jerrick's President and Head of Product, "Since the launch of Vocal in 2016, over 470,000 creators have joined the platform to create a global community for storytelling. We aspire to be the leading creator-centric platform and have spent the past three years listening to our creators. The enhancements introduced with Vocal 2.0 are the product of our partnership with creators and enables us to deliver a best-in-class experience. On the Vocal platform, creators of all shapes and sizes have shared stories that have entertained, educated, shocked and moved us. Vocal makes it easier for writers, musicians, podcasters, videographers, bloggers and creatives of all types to get discovered and fund their creativity."
There is a full product update from Maury here.
Vocal+ has attracted over 1,200 subscribers since introduction in late second quarter. The Company expects that Vocal+, which provides increased monetization and discovery opportunities for Vocal creators, will continue to attract new customers to the platform and rapidly increase recurring revenue. A broader, more comprehensive subscription model is expected to be introduced later this month.
Said Jerrick CEO Jeremy Frommer, "We are seeing an acceleration in branded content sales, specifically with clients in direct-to-consumer spaces such as food, beauty and wellness. With the continued growth of creator subscriptions, as well as the expected closing of the Seller's Choice acquisition later this month, I expect combined 4th quarter revenues to be in the $300,000-$400,000 range, representing an exponential increase above previous quarters."
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