Also Announces Expansion of User-Generated
Content Verticals in News,
Celebrity News, Travel,
Fashion and Beauty, and True Crime
ROCHESTER, N.Y., March 13,
2023 /PRNewswire/ -- Vinco Ventures, Inc. (Nasdaq
Capital Market: BBIG), a technology company specializing in
converting content to digital and social platforms, today announced
it has completed a 90-day beta test of an exclusive user-generated
content (UGC) platform resulting in significant increases in new
active users and advertising impression delivering an increase of
more than 30% in average daily revenue over the test period.
"The results from the addition of the exclusive user-generated
content platform exceeded our initial expectation and proves that
the addition of new and engaging content to our technology
platforms is capable of delivering real results," said Vinco
Ventures Executive Chairman of the Board Rod Vanderbilt. "We
believe that we are uniquely positioned to continue to leverage our
platforms for the rapidly growing creator economy and well-poised
to help our business partners engage even more deeply with
expanding audiences across various platforms."
Tapping into the rapidly growing creator economy, the 90-day
test of UGC content across its portfolio of media brands connected
premium advertising partners to a highly engaged audience and
resulted in the addition of 23 million new active users and more
than 1.5 billion advertising impressions. The extraordinary
engagement with the new content vertical delivered an increase of
more than 30% in average daily revenue over the 90-day period.
As a result of the overwhelming response and success of the UGC
beta test, Vinco Ventures also announced the immediate expansion of
additional UGC content verticals across its portfolio including
breaking news, celebrity news, travel, fashion and beauty, and true
crime.
About Vinco Ventures
Vinco Ventures, Inc. (Nasdaq: BBIG) is focused on the
development of digital media and content technologies. For more
information visit Investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains "forward-looking statements" as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, which are based upon
beliefs of, and information currently available to, Vinco as well
as estimates and assumptions made by Vinco's management. These
statements can be identified by the fact that they do not relate
strictly to historic or current facts. When used in this press
release the words "estimate," "expect," "intend," "believe,"
"plan," "anticipate," "projected," and other words or the negative
of these terms and similar expressions as they relate to the
applicable company identify forward-looking statements. Such
statements reflect the current view of Vinco's management with
respect to future events and are subject to risks, uncertainties,
assumptions and other factors relating to Vinco and its
consolidated subsidiaries and variable interest entities, including
Lomotif, AdRizer and Honey Badger,
and their respective industries, financial condition, operations
and results of operations. Such factors include, but are not
limited to, uncertainties as to the expected benefits from Vinco's
investments in Lomotif, AdRizer and Honey
Badger and related growth initiatives including integration
of the AdRizer platform with Lomotif and synergies between AdRizer,
Lomotif and Honey Badger, and such
other risks and uncertainties described more fully in documents
filed by Vinco with or furnished to the Securities and Exchange
Commission, including the risk factors discussed in Vinco's Annual
Report on Form 10-K for the period ended December 31, 2021 filed on April 15, 2022, and Vinco's Quarterly Reports on
Form 10-Q filed thereafter including the Quarterly Report on Form
10-Q for the quarter ended March 31,
2022 filed on May 23, 2022,
which are available at www.sec.gov. Should one or more of these
risks or uncertainties materialize, or the underlying assumptions
prove incorrect, actual results may differ significantly from those
anticipated, believed, estimated, expected, intended, or planned.
Although Vinco believes that the expectations reflected in the
forward-looking statements are reasonable, Vinco cannot guarantee
future results, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States, Vinco does not intend to
update any of the forward-looking statements to conform these
statements to actual results.
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SOURCE Vinco Ventures
