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MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

Business

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results
Business

Business

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

2024-08-15 04:15 Last Updated At:04:35

PALO ALTO, Calif., Aug. 15, 2024 /PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE American: MPU), today announced financial results for its second quarter ended June 30, 2024. 

Operating Highlights

Financial Highlights

Management Commentary

Mr. Yucheng Hu, CEO of Mega Matrix Corp., stated, "In Q2 of 2024, our efforts to bolster FlexTV's development were validated as we witnessed significant tractions and engagement on the platform. The rapid uptake by users underscores the appeal of our curated short drama content, tailored for the vertical screen format.

Building on this momentum, our focus for the remainder of the year is on further enriching the FlexTV experience. We are committed to expanding our content library, nurturing studios that supply content to our platform, forging strategic partnerships, and enhancing user engagement features to ensure that FlexTV remains at the forefront of the evolving entertainment landscape.

Mega Matrix recognizes that captivating storylines are the cornerstone of successful short dramas. Consequently, we have strengthened our script team, significantly enlarging its size and refining the scriptwriting process. Since July 2024, our newly reinforced team has successfully stabilized production at over 5 short dramas per month.

The success we've experienced in Q2 reaffirms our belief in FlexTV's potential to revolutionize the way audiences consume content in the digital age. We are excited to continue driving innovation and delivering compelling entertainment experiences that resonate with viewers worldwide, all while maximizing value for our shareholders."

About Mega Matrix: Mega Matrix Corp. (NYSE AMEX: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Delaware corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Key Metrics

The numbers for our key metrics, which include our total active users (TAU), total paying users (TPU), average membership and top-up streaming service revenue per active user (ARPU), and average membership and top-up streaming service revenue per paying user (ARPPU), are calculated using internal company data based on the activity of user accounts. We define an active user as a user who has downloaded and opened FlexTV app at least once. We define a paying user as a user who has registered for a membership or topping up, provided a method of payment, and is entitled to access FlexTV services (this membership or topping up does not include participation in free trials or other promotional offers extended by FlexTV to new users). We define ARPU as average membership and top-up streaming services revenue generated by each active user in one quarter. We define ARPPU as average membership and top-up streaming services revenue generated by each paying user in one quarter. We use these metrics to assess the growth and health of the overall business and believe that ARPU best reflects our ability to attract, retain, engage and monetize our users, and thereby drive revenue. While these numbers are based on what we believe to be reasonable estimates of our user base for the applicable period of measurement, there are inherent challenges in measuring usage of our products across large online and mobile populations around the world. In addition, we are continually seeking to improve our estimates of our user base, and such estimates may change due to improvements or changes in technology or our methodology.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; ; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Risk Factors" in documents filed by the Company with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

X (f/k/a Twitter):

twitter.com/MegaMatrixMPU

Facebook:

facebook.com/megamatrixmpu

facebook.com/flextvus

LinkedIn:

linkedin.com/company/megamatrixmpu

TikTok:

tiktok.com/@flextv_english

YouTube:

youtube.com/@FlexTV_English

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

Contact: Info@megamatrix.io

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

MEGA MATRIX CORP. Announces Second Quarter 2024 Financial Results

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TTV Lunar New Year Special - The 2025 TTV SUPER STAR

2025-01-20 11:40 Last Updated At:11:55

Cyndi Wang takes the stage and brings an enthusiastic opening performance

TAIPEI, Jan. 20, 2025 /PRNewswire/ -- Taiwan Television Enterprise (TTV)'s Lunar New Year's Eve special 2025 TTV SUPER STAR will be broadcast globally on January 28th. This large-scale music event accompanies Chinese audiences around the world in celebrating the final night of the year. Cyndi Wang will take on the role of the TTV SUPER STAR leader, kicking off this year's program with her dreamy and sweet performance. Numerous renowned Chinese artists and international superstars will be divided into red and white teams, delivering spectacular performances back-to-back to welcome the Year of the Snake with audiences worldwide.

The TTV Super Star, now in its 16th year, continues to captivate audiences with its spectacular red and white team singing competition, accompanying Chinese viewers around the world during the Lunar New Year's Eve family gatherings to welcome the new year. In 2025, renowned Chinese artists and international superstars will take the stage, including popular South Korean girl group Kep1er, BAEKHO, Cyndi Wang, Show Lo, MJ116, Mixer, Amber An, YELLOW, Chih Siou, Bii, TRASH, The Last Day of Summer 831, Henry Hsu, W0LF(S), Accusefive, ØZI, Shi Shi, and Wing, among others.

Cyndi Wang takes the TTV Super Star stage for the eighth time, this year serving as the program's opening ambassador for the very first time. With her sweet and energetic performance, she sets the tone for the show. Dressed in a stunning red dress featuring a heart-shaped cutout design on the right waist, Cyndi dazzled the audience. Accompanied by 20 dancers, she seemed to radiate love with every step of her choreography. Cyndi brought elements from her highly praised concert performance to the stage, delivering a spectacular medley of "Just Break Up" and "Heart to Heart" on Lunar New Year's Eve. Her vibrant and electrifying performance is sure to ignite the energy of the entire audience. Cyndi also revealed that this year she will transform into Cupid, making a special appearance in the TTV Super Star opening video. Playfully shooting an arrow, she transitions into her performance of "Just Break Up," symbolizing renewal and fresh beginnings. Don't miss the broadcast of this spectacular performance on Lunar New Year's Eve!

The spectacular TTV program, the 2025 TTV SUPER STAR, will be broadcast on Lunar New Year's Eve (January 28, 2025) on Taiwan Television (TTV Main Channel). The overseas broadcast platforms include StarHub in Singapore, Astro in Malaysia and Brunei, and TTV SUPER STAR official YouTube channel (except in Taiwan and overseas licensed areas). People all around the world can experience the Lunar New Year atmosphere of TTV SUPER STAR through the above platforms! For more information, please visit to the official Facebook page: https://www.facebook.com/superstarttv/

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

TTV Lunar New Year Special - The 2025 TTV SUPER STAR

TTV Lunar New Year Special - The 2025 TTV SUPER STAR

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