SAN FRANCISCO, CA / ACCESSWIRE / August 4, 2022 / Sanwire Corporation, ("Sanwire" or the "Company") (OTC PINK:SNWR), an entertainment-technology innovator, is pleased to provide revenue growth and guidance for its wholly-owned subsidiary, Intercept Music, Inc. ("Intercept").
Sanwire's revenues for the second quarter ended June 30, 2022 ("Q2/2022") have increased approximately 175% as compared to the quarter ended June 30, 2021. Sanwire will be publishing its Q2/2022 financial statements and operational performance in the coming weeks. All figures are unaudited and based on a consolidated basis.
Q2/2022 revenue increase and performance excellence are attributed to many factors with growth across all major income streams. Major drivers behind the increased revenue are:
- 8.6 million verified streams for the period ending May 2022
- partnership launch with the Method Man in April 2022 contributed greatly to the increase in the streaming figures
- uptick demand in our label incubation program and the extensive playlisting services program
- continued to add new artists directly to Intercept platform as well as through indie labels
- Increase in our marketing staff resulted in additional marketing activities that brought in new customer sign-ups. New marketing programs have generated additional revenues
- Increase in our operational staff resulted in faster on-boarding/provisioning processes
- Significant enhancements to our proprietary software that has eliminated several manual processes in the on-boarding process
Revenue growth increase is expected to continue in the third quarter of 2022 ("Q3/2022") as Intercept pushes ahead with its multi-faceted marketing campaigns. Other drivers that will contribute to Q3/2022 revenue growth include:
- the recently announced partnership with more than 7,000 titles reggae catalog, that includes Grammy award winners such as Sean Paul, Shaggy, Beenie Man and others), will start generating revenues in August/September of 2022
- partnership launch with Method Man in April 2022 will continue to bring in additional revenues in Q3/2022 as the partnership matures
- recent partnerships with influential players in the music industry, including CC Enterprises and Litco Entertainment, will generate additional leads and customers.
- our proprietary marketing campaigns are also proving a huge success with streaming increasing at almost 400% in May.
"We are very excited about our revenue growth and feel very good about the way we have refined and customized our offerings," said Tod Turner, President of Intercept. "Our growth in revenues provides us with the confidence that we are on the right track and the success of our artists provides us with the metrics that we are delivering a premium service to our artists."
Intercept's online platform is dedicated to helping independent artists and bands effectively distribute, promote, and earn income from their music. Intercept's platform gives artists immediate access to hundreds of digital stores and every major streaming platform, including Spotify, Apple Music, Amazon Music, Pandora and Google Music. In addition to powerful DIY social media marketing and promotional tools available on a monthly subscription model, the invitation-only Intercept Plus program offers fully managed promotional services, including the opportunity to sell merchandise through branded online stores.
About Intercept Music Inc.
Intercept Music champions creative iconoclasts. The entertainment technology company harnesses the power of premium distribution, sizzling social media, meaningful marketing, monumental merchandising, and customizable promotional services to empower independent labels and their artists to build audiences and drive revenue. The Software as a Service (SaaS) company focuses exclusively on the independent music market, the fastest-growing sector of the music industry. Intercept Music is a wholly-owned subsidiary of Sanwire Corporation (OTC PINK:SNWR), a company focused on advanced technologies for the entertainment industry. Learn more at interceptmusic.com or visit Intercept Music's Instagram, Twitter, and Facebook.
About Sanwire Corporation
Sanwire Corporation (OTC PINK:SNWR), a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, visit sanwirecorporation.com.
Safe Harbor Statement: This release contains forward-looking statements. All statements regarding our expected future financial positions, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the OTC Markets, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Sanwire Corporation