BBTV bullish on outlook following YoY revenue growth in third earnings report since TSX IPO

BBTV

During the first quarter of 2021, BBTV Holdings, the holding company behind Vancouver-based BroadbandTV, generated $107 million CAD in revenue for 16 percent revenue growth year-over-year compared to Q1 2020.

According to BBTV, this year-over-year increase was the result of new partnerships and a rise in viewership. The company did note a 41 percent decline in revenue when compared to Q4 2020, when the company generated $151 million in revenue.

“We anticipate accelerated growth and expanding margins over the coming quarters,” said Shahrzad Rafati, BBTV’s CEO.

“Our first quarter performance showed solid progress over last year,” said Shahrzad Rafati, BBTV’s chairperson and CEO. “We delivered 16% revenue growth in Q1, which is seasonally the industry-wide lowest quarter.”

Rafati added that the company remains “bullish” on its growth outlook over the next year given its creator onboarding efforts, the expansion of its Plus Solutions, and its merger and acquisition strategy. “We anticipate accelerated growth and expanding margins over the coming quarters,” she said.

Founded in 2005 by Rafati, BroadbandTV allows partners to distribute, manage, and monetize video content through its end-to-end platform. The company serves independent content creators and media companies, enabling them to grow their presence online.

To date, BroadbandTV’s partners have included PBS, the NBA, A&E, and Sony. The company claims to serve “influencers of all sizes.”

RELATED: BroadbandTV’s revenues reached new record in quarter leading up to IPO

BBTV went public on the Toronto Stock Exchange (TSX) last October, raising total gross proceeds of over $172 million CAD, and also buying out German media company RTL Group’s interest in BroadbandTV. The company currently trades on the TSX under the symbol ‘BBTV.’

In Q1, the company also generated a net loss of $9.1 million compared to the net loss of $13.5 million it saw during the same period last year. In Q4 2020, BBTV saw a profit of $1.2 million.

During the first quarter of 2021, BBTV expanded its services to India and Thailand, built out its solutions with Instagram and TikTok creators, and reached new content distribution agreements with Roku and Amazon Fire.

RELATED: BBTV closes IPO, completes buyout of RTL’s interest in company

Rafati said the company’s “scale and proven ability to make money for creators continues to attract some of the best partners around.”

The company also inked deals with new creators, adding almost 750 million monthly views to its platform across segments like sports, gaming, lifestyle, and entertainment.

In March, BBTV added Blake Corbet as VP of corporate development and in February, it began cross-listing on OTCQX under symbol ‘BBTVF.’

Image source Wikimedia Commons

Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.