TORONTO--(BUSINESS WIRE)--Personas Social Incorporated (TSX.V: PRSN) (the “Company” or “Personas”) is pleased to announce its upcoming marketing event with world-famous boxer Floyd Mayweather on Friday February 26th, 2021.
The Company is proud to announce its participation in an online marketing event with Mr. Floyd Mayweather. Mr. Mayweather is a world-famous boxer with over 24 million social media followers. The marketing event held by Mr. Mayweather will require his followers, to follow Peeks Socials’ Instagram account to qualify to win a portion of a $25,000 prize pool.
The Company has engaged in several similar marketing programs in 2020 with a great deal of success in both, getting followers on our social media accounts and in converting those followers into users of our services. For the year 2020 the Company’s user acquisition cost was $1.61 CAD per user, and the average Gross Revenue per user was approximately $8.89 CAD. Similarly, Net Income per user was approximately $3.91 in 2020. The Company is accelerating its marketing efforts in 2021 with initiatives like our marketing event with Mr. Mayweather.
The Company continues to refine its marketing initiatives to target desirable user demographics more precisely. In the case of Mr. Mayweather, his followers represent two desirable demographics: men and bitcoin enthusiasts. The recent launch of the Company’s Bitcoin payment system makes access to crypto currency enthusiast a priority. Although Mr. Mayweather is no longer active in the crypto currency industry many of his 24 million social media followers continue to be.
You can download the Peeks app in both the Apple or Android Appstore or visit our website at www.peeks.tv.
Comments on Operational Metrics
The numbers and amounts reported herein are unaudited historical operational metrics. The operational metrics reported here are generated from internal reports and are not intended to comply with International Financial Reporting Standards ("IFRS"). The disclosure in this press release is intended to provide insight into the Company’s sales trends. The internal operational metrics disclosed herein are used by management as a tool to assess the Company’s overall sales performance and should not be deemed to be financial disclosure or otherwise construed to replace or negate the Company’s audited financials.
For the purposes of this press release, the Canadian dollar amounts were calculated at the annual average exchange rate for the year 2020 which is used herein as $1.34 CAD to $1.00 US dollar. ‘Gross Sales’ are the total sales processed by the company in a given period, ‘Net Sales’ are the Gross Sales minus payment processing fees, and ‘Net Income’ is the gross fees earned by the Company for the use of its platform by streamers and viewers. The actual audited Gross Sales, Net Sales and Net Income numbers will vary from the numbers reported herein due to, but not limited to, fluctuations in foreign exchange at the time of transactions and at the time of settlement of funds to the Company and variations in payment processing fees.
Forward Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect", "plan", "intend", "anticipates", "projects", "potential" or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.