As Viggle Approaches 10 Million User Mark Platform Reach and Value to Advertisers Increases
User Traction Underscores Ongoing Cord-Cutting Trend and Increasing Importance of Rewards Programs
NEW YORK– VGGL, NASDAQ,(BUSINESS WIRE)– As Viggle Inc. (VGGL), the entertainment marketing and rewards platform, approaches the 10 million user mark in Viggle app downloads, VentureBeat will feature Julie Gerola, Senior Vice President of Marketing and Rewards, with others in a live panel webinar on Thursday, July 30 at 10:00 AM Pacific, 1:00 PM Eastern. Register here for free.
Viggle was also just featured in an article by Venture Beat titled: Mobile Marketing Automation PT V: Getting Right Time, Right Place Right which can be accessed at: http://venturebeat.com/2015/07/27/mobile-marketing-automation-pt-v-getting-right-time-right-place-right-webinar/
Gerola will likely discuss the fact that consumers increasingly want to watch and listen to content at their convenience or on-demand: Viggle’s growing number of users reflects both this trend and the strength as well as timeliness of Viggle’s offering that bridges the needs of advertisers and consumers.
According to a report from U.K. media regulator, Ofcom, people age 16 to 24 watch only about 50 percent of the TV programming they consume live, with most of the remaining 50 percent viewed online. A study conducted by Nielsen and YuMe found that 92 percent of U.S. millennials use a second screen while watching TV, with 47 percent simultaneously accessing further information about the TV content they are watching.
At the same time, consumer interest in loyalty or rewards programs also continues to rise. Business Insider recently reported that from 2008 to 2012, U.S. loyalty memberships increased by 10 percent per annum, reaching 23 memberships per household in 2012. A recent McKinsey study of 55 North American and European publicly traded companies showed that market capitalizations for companies with strong loyalty programs outpaced those of companies that do not offer or emphasize a rewards program.
As recently reported by the Company, 600,000 new users registered on the Viggle platform during its fiscal fourth quarter, bringing net registered users to more than 9.5 million at the end of June 2015. Subsequently, the Company has continued to grow its user base and is now approaching 10 million users. By the end of the fiscal fourth quarter, Viggle’s net registered user base had increased by 78 percent compared to the 5.4 million at the end of June 2014. These metrics prompted the Company’s recent announcement that it expects Fiscal 2015 revenue to increase by roughly 42 percent year-over-year to $25.6 million.
As of June 30, 2015, Viggle users have cumulatively checked into more than 504 million TV programs. This compares to more than 478.1 million TV programs as of March 31, 2015 and 379.5 million as of March 2014. Viggle users have cumulatively matched more than 188 million songs using the Viggle Music service, up from more than 146.5 million songs as of March 31, 2015 and more than 26.0 million songs as of March 31, 2014.
Importantly, Viggle members continue to spend more than an hour with the Company’s app each time they engage. This is another metric that the Company believes makes its growing user base an attractive platform for advertisers.
Viggle is an entertainment marketing and rewards platform whose app rewards its members for watching TV shows and discovering new music. The Viggle Platform had an average monthly total reach of 23.6 million for the three months ended June 30, 2015, including nearly 10 million Viggle registered users. Since its launch, Viggle members have redeemed over $26 million in rewards for watching their favorite TV programs and listening to music. Members can use Viggle’s store, accessible through the Viggle app or on Viggle.com, to redeem their Viggle Points for TV show, movie, and music downloads. In addition, Viggle operates Wetpaint, which offers entertainment and celebrity news online; NextGuide, maker of technology that helps consumers search for, find, and set reminders for TV shows and movies; and Choose Digital, a digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives. For more information, visit www.viggle.com or follow us on Twitter @Viggle.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. All information provided in this press release is as of the date of this release. Except as required by law, Viggle Inc. undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.