{"id":494690,"date":"2021-05-17T17:51:01","date_gmt":"2021-05-17T21:51:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/creatd-inc-reports-record-first-quarter-2021-financial-results\/"},"modified":"2021-05-17T17:51:01","modified_gmt":"2021-05-17T21:51:01","slug":"creatd-inc-reports-record-first-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/creatd-inc-reports-record-first-quarter-2021-financial-results\/","title":{"rendered":"Creatd, Inc. Reports Record First Quarter 2021 Financial Results"},"content":{"rendered":"
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Creatd first quarter net revenues increased 154%, year over year, exceeding company guidance.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n FORT LEE, N.J.<\/span>, May 17, 2021<\/span> \/PRNewswire\/ —\u00a0Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), today reported financial results for its first quarter ended March 31, 2021<\/span>.<\/p>\n

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\n \"Creatd,
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Commenting on the Company’s first quarter results, Creatd’s founder and CEO Jeremy Frommer<\/span> stated, “Creatd established a solid business foundation in 2020, fortifying operations, systems, financials, human resources, and overall infrastructure, effectively eliminating any impediment to future rapid growth and revenue expansion, and entered 2021 focused on delivering growth in both our platform and agency businesses. We are highly motivated to continue to exceed the guidance we set for 2021 which we have shown to deliver during this first quarter.”<\/p>\n

“In the first quarter of 2021, our agency business increased 73% year-over-year, generating $428,000<\/span> in revenue. We have developed a true powerhouse in the form of our Vocal Challenges, which validate our company’s unique brand awareness capabilities and enhance the value provided to our agency clients, while also providing exciting new reward opportunities through cash prizes for our creator communities. The success we witnessed with our first Moleskine-branded<\/a>\u00a0<\/a>Challenge<\/a><\/u>, launched in January, and the subsequent engagement shortly thereafter, has led to a number of new arrangements with other iconic <\/a>brands such as Fiskars<\/a><\/u>.”<\/p>\n

“Since the launch of Vocal+ in early 2020, net quarterly revenues from creator subscriptions have increased nearly tenfold from $36,000<\/span> in first quarter 2020 to $307,000<\/span> in first quarter 2021. In fact, earlier today we announced that Vocal+ hit a new record milestone<\/a><\/u>, surpassing 25,000 subscribers, and are on track to reach our stated goal of 100,000 paid Vocal+ subscribers by year-end 2021. As we continue to enhance our platform with additional tools and communities, as well as increase the number of challenges and other monetization opportunities for creators, we see a continuation of excitement and expansion from our flourishing creator population.”<\/p>\n

“Given the performance we have experienced over the last 45 days, coupled with the close of our recent financing<\/a><\/u>, we are comfortable giving guidance of between $1 million<\/span> and $1.2 million<\/span> in net revenues in second quarter 2021, and between $5<\/span> and $7 million<\/span> for full year 2021.”<\/p>\n

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\n First Quarter 2021 Financial Highlights<\/u>\u00a0<\/b>\n <\/p>\n