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BBTV Launches 'Pay to Crypto', a Premium Solution to Pay Creators at Scale in Cryptocurrency
Thursday, January 13, 2022Company Profile | Follow Company
Vancouver, BC, January 13, 2022--(T-Net)--BBTV Holdings Inc. (TSX: BBTV; OTCQX: BBTVF), a leading creator monetization company with a mission to help creators become more successful, today announced the launch of its Pay To Crypto solution to pay creators at scale in cryptocurrencies.
Shahrzad Rafati, Chair and CEO, BBTV
"Web3 is a big part of the creator economy already, from social tokens to NFTs and cryptocurrency. This is just one step that BBTV is taking to pioneer Web3 solutions for creators in this fast-emerging segment of the creator economy," commented Shahrzad Rafati, Chairperson and CEO, BBTV.
"Receiving a portion or all of their monthly earnings in crypto helps creators further diversify their income. Creators have been really vocal about their interest in entering the Web3 revolution, and we're very proud to lead the way as their strategic partner. We're excited to provide Pay to Crypto leveraging Netcoins as a strong platform."
The new Pay To Crypto premium payment solution expands on BBTV's financial solutions for creators, which also includes BBTV Fast Pay. In addition to providing optionality for creators to finance their growth in innovative ways, BBTV's growing offering of financial solutions leverages the Company's extensive library of content and scale to add incremental gross margin and Adjusted EBITDA to the business.
"Cryptocurrency is a powerful way for creators to participate in the Web3 economy," commented BIGG CEO, Mark Binns. "Whether they're early adopters or making their first foray into crypto, converting their payments from USD into other currencies changes the narrative of what their payments can do. BBTV is an outstanding showcase of the scalability and capability of the Netcoins platform for anyone interested in crypto, not just in Canada but around the world."
Netcoins is a subsidiary of BIGG Digital Assets Inc., and has stated that it has registered users exceeding 100,000 as of November 29th, 2021, illustrating the cryptocurrency brokerage's ability to scale and facilitate cryptocurrency payments for BBTV's creator base. In Q3 2021, Netcoins also made the significant step of receiving the first Canadian restricted dealer license for a cryptocurrency trading platform, owned by a public company, in Canada.
"BBTV's crypto-payment option is another service innovation from a partner I've come to rely on for outside-the-box benefits," commented Joseph Hogue, content creator behind 'Let's Talk Money!'. "Converting payments from USD to Crypto, it was up to a week before a transfer was cleared to move into my digital wallet on another platform. Being paid directly in cryptocurrency saves me time and at a minimal charge compared to the multiple transfers from my bank to different wallets. Along with BBTV's Fast Pay accelerated payment service, the company is taking creator management to a whole new level to empower creators."
About BBTV
BBTV is a global media and technology company headquartered in Vancouver, Canada. The Company's mission is to help content creators become more successful. With creators ranging from individuals to global media brands, BBTV provides comprehensive, end-to-end Solutions to increase viewership and drive revenue powered by its innovative technology, while allowing creators to focus on their core competency - content creation.
In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content, the most among media companies [1]. (www.bbtv.com )
[1] Calculations and classifications made by BBTV based on data from Comscore's "Top 12 Countries = January 2021 comScore Video Metrix Media Trend - Multi-Platform - Top 100 Video Properties Report"; Top 12 countries represent ~50% of world's digital population.
Non-IFRS Measure and Key Metric
This press release makes reference to "Adjusted EBITDA" which is a measure that is not specified, defined or determined under BBTV's generally accepted accounting principles, or IFRS, and therefore may not be comparable to similar measures presented by other issuers. Accordingly, this measure should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Refer to the Company's MD&A presented as at November 10, 2021 under the heading "Non-IFRS Measures and Key Metrics" for more details, as well as a discussion on the limitations of these Non-IFRS Measures and Key Metrics.
Third Party Information
BBTV has relied solely on Netcoins for the information in this press release regarding Netcoins and its business, and does not accept any responsibility for verifying, or the accuracy of, such information, nor any forward-looking information contained therein.
Forward-Looking Statements
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