MediaCentral will launch digital video content to capitalize on evolving media consumption trends
TORONTO, Feb. 12, 2020 /CNW/ - Media Central Corporation Inc. (CSE:FLYY, FSE:3AT) ("MediaCentral" or the "Company") is pleased to announce its entry into the fast-growing online digital video space as part of its ongoing efforts to monetize its rapidly expanding audience. MediaCentral will be upgrading its digital properties with online video capabilities to further digitize and evolve content for modern media consumption habits.
Online video has become one of the world's fastest growing and most profitable mediums of digital content. In Canada, digital video revenue grew the quickest out of the top-3 ad formats, up +18% to $1.8 billion digital ad spend in 20181. The growth in viewership and revenue shows no sign of slowing down; by 2023, over 56 million households are expected to have fully switched from cable media to streaming media, further increasing the demand for online video2.
Media Central's editorial video productions will support and carry the respective independent voices of its publications to millions of new digital Canadian viewers. NOW Magazine will be the first of MediaCentral's publications to incorporate high quality, hard-hitting video journalism designed for maximum audience reach.
"We are extremely focused on ushering our properties into profitable, cutting-edge digital platforms. We are thrilled to share that NOW Magazine will launch its first editorial video with it's March 05 issue in 2020. NOW's deep pool of talented writers will collaborate to produce a stylistic and informative online video series to complement and support their influential brand of journalism," said Brian Kalish, CEO of MediaCentral.
In addition to equipping publications with extended digital capabilities, MediaCentral's video content engine will provide all websites and social media channels with a heavy boost in traffic and additional revenue opportunities. MediaCentral will monetize its digital video production via programmatic advertising, platform revenue partnerships, affiliate program integration, and in-video promotional offerings.
With a concise plan to monetize all digital video products to the fullest extent, MediaCentral's video production is expected to grow into a key traffic source and profit center within the year.
About NOW Central Communications Inc. NOW Central owns and operates NOW Magazine and nowtoronto.com. NOW is Toronto's news and entertainment voice, published in print every Thursday, and daily at nowtoronto.com. Reaching over 25 million annual readers, NOW has been a leading publication, defining and pioneering the independent and alternative voice for more than 38 years. NOW Central Communications Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
About Media Central Corporation Inc. Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) is an independent media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com. MediaCentral is consolidating and digitally monetizing the over 100 million coveted and premium readers of the 100 alternative weekly newspapers across North America, creating the most powerful untapped audience of influencers.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release may include, but are not limited to, statements with respect to internal expectations, expectations with respect to estimated margins, cost structures, and cost structures in the media industry. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the media industry generally, income tax and regulatory matters; the ability of MediaCentral to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive and should carefully review the various risks and uncertainties identified in the Company's filings on SEDAR and EDGAR. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.