{"id":508295,"date":"2021-06-30T09:26:12","date_gmt":"2021-06-30T13:26:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/creatd-inc-hits-key-milestone-of-over-30000-vocal-subscribers-and-confirms-revenue-guidance\/"},"modified":"2021-06-30T09:26:12","modified_gmt":"2021-06-30T13:26:12","slug":"creatd-inc-hits-key-milestone-of-over-30000-vocal-subscribers-and-confirms-revenue-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/creatd-inc-hits-key-milestone-of-over-30000-vocal-subscribers-and-confirms-revenue-guidance\/","title":{"rendered":"Creatd, Inc. Hits Key Milestone of Over 30,000 Vocal+ Subscribers and Confirms Revenue Guidance"},"content":{"rendered":"
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– Key to growth was an accelerated conversion rate achieved in the month of June, ending the quarter with over 31,500 Vocal+ subscribers.<\/h2>\n

– Company confirms guidance including consecutive revenue increases for the 2nd and 3rd quarters of $1 million and $1.6 – $1.8 million, respectively.<\/h2>\n

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

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\n FORT LEE, N.J.<\/span>, June 30, 2021<\/span> \/PRNewswire\/ —\u00a0Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), a creator-first technology company, today announced a new business milestone of surpassing 30,000 Vocal+ subscribers. Vocal+ is the premium subscription offering of the Company’s flagship product, Vocal<\/a><\/u>. Vocal+ was introduced in early 2020, approximately three years following the Vocal platform launch. Together, Vocal counts over 1 million freemium and Vocal+ premium members in its vibrant creator community. <\/p>\n

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Commented Creatd CEO Jeremy Frommer<\/span>, “We can confidently predict reporting $1 million<\/span> in net revenues for second quarter 2021, representing a 3x increase as compared to the same period last year. Next quarter, our focus will be on delivering new features that will enhance our ability to continue acquiring and retaining creators and their audiences while reducing marketing costs, relying less on traditional paid media avenues and leveraging the organic traction of our network of creator communities\u2014currently 39-strong. Coupled with that, our newly-released Vocal Ambassador Program<\/a><\/u>\u00a0is a powerful source of organic expansion for our platform and one that we anticipate will only continue to gain steam. Our creator-first strategy resonates throughout Creatd’s business model and is expected to lead us to a projected $1.6<\/span> to $1.8 million<\/span> in revenues in the third quarter. Meanwhile, we expect an approximate $1.5 million<\/span> reduction in marketing costs. With that reduction, we anticipate approximately $3.3 million<\/span> in operating expenses for the third quarter of 2021.<\/p>\n

“Momentum begets momentum. As Vocal’s creator base approaches a new critical mass, we are being proactive and responsive to the evolving needs of our creator community, who we recognize is seeking deeper and more frequent points of interaction within Creatd.”<\/p>\n

Creatd, Inc. comprises three main pillars:<\/p>\n