Zedge is beta testing customized Zoom backgrounds and virtual music concerts, leveraging its large loyal installed customer base to provide timely content for today's stay-at-home world
NEW YORK, NY / ACCESSWIRE / July 6, 2020 / Zedge, Inc. (NYSE AMERICAN:NYSE), a worldwide mobile publishing and content platform provider, today announced that it is beta testing for two new products, designed to provide timely and innovative content to consumers who are spending more time at home due to the COVID-19 pandemic, and empower our creators with the ability to make a living during these challenging times, while creating new revenue streams for the Company.
The two products now in beta testing include:
- Customized Zoom Backgrounds: Zoom has become a leading communications staple for virtual gatherings including business meetings, trade shows, distance learning, birthday parties, book clubs, and religious services. Zedge now offers customized backgrounds that can be used with Zoom, providing both Zedge's nearly 30 million MAU and Zoom's 300 million daily meeting participants with a great way to personalize their meetings and express their personalities.
- Virtual Concerts: With live concerts being canceled as a result of the pandemic, artists are struggling to make a living and connect with their fans. To fill this void, Zedge is producing live concerts promoting musicians to its nearly 30 million MAU. The first concert is scheduled for July 18th, featuring critically acclaimed country singer Annie Bosko, who will be launching her "2020 Fighter Tour," honoring first responders. Zedge concerts allow musicians that use Zedge as a marketing vehicle to not only gain awareness and build their fan base by offering videos, ringtones, notification sounds and wallpapers, but also make a living with the addition of live virtual concerts. Artists will be able to please their fans and also make money and even donate a portion of the proceeds to the charity of their choice. According to a study from PricewaterhouseCoopers (PwC), global revenue from ticket sales for live concerts is estimated to reach $24 billion by 2022.
"Zedge is committed to leveraging its large base of monthly active users, expanding the ways its artists can monetize, while also seeking ways to seize new opportunities in the Covid-19-impacted world and the resulting social distancing/shelter-in-place protocols," commented Tim Quirk, Zedge's Senior Vice President of Product.
"These two new offerings, while early stage and being tested, demonstrate the innovation and creativity of the Zedge team and our ability to nimbly adapt to changing circumstances. Zoom has quickly become an essential tool in our new reality, and consumers are seeking custom backgrounds to make the Zoom experience more fun and personal. Similarly, performing artists are looking for ways to continue connecting with their fans even while live events are restricted, creating an opportunity for Zedge to help fill that void. Both of these initiatives are perfectly aligned with our goal of being a valuable platform for artists, enabling us to experiment with value added offerings that can generate income for Zedge creators and diversify our revenue streams."
For more information on the Zoom Backgrounds beta, visit: https://www.zedge.net/zoom-wallpapers
For more information on the Zedge Concerts beta, visit: https://zedgemusic.ticketspice.com/annie-bosko-fighter-tour
Zedge offers a state-of-the-art digital publishing platform that powers our consumer-facing app availing users with a host of digital content - wallpapers, video wallpapers, ringtones, and stickers. We are evolving by developing new apps run on top of our publishing platform and generally focus on the entertainment vertical. Our creators are amateur and professional artists as well as new and major brands who can easily launch a virtual storefront in Zedge where they can market and sell their content to our user base. Our app has been downloaded more than 436 million times, has nearly 30 million monthly active users and has consistently been ranked as one of the most popular free apps in Google Play in the US.
Forward Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
SOURCE: Zedge, Inc.
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