NEW YORK, July 8, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating site developer and owner of AYI.com, today announced June subscriber information along with business updates.
* Active subscriber count increased approximately 26% YTD through June 30, 2014, from approximately 77,700 as of December 31, 2013 to approximately 98,000 as of June 30, 2014;
* New subscription transactions increased approximately 33% YTD through June 30, 2014 as compared to the same period in 2013; and
* New subscription transactions in June 2014 increased 18% as compared to June 2013.
*Snap begins testing paid add-on features to improve revenue generation from new and existing subscribers.
*Snap signs marketing agreement with Zoosk
SNAP's Chief Executive Officer, Clifford Lerner, commented, "There were several important developments in June that we're excited to report including subscriber growth, a new advertising relationship, and incremental revenue opportunities. June was our seventh consecutive month of subscriber growth, with an increase in our active subscriber base of 26% during the first six months of 2014."
Lerner continued, "We were pleased to continue to grow our subscriber base despite lower advertising and marketing expense compared to Q1. We're also very excited to report a new advertising relationship with Zoosk.com. Our agreement gives us an opportunity to earn incremental advertising revenue." Information on the Zoosk relationship can be found here: http://biz.yahoo.com/e/140701/stvi8-k.html.
SNAP's Chief Operating Officer, Alex Harrington, added, "In addition to the continued growth in our subscriber base, one of our primary objectives is to grow revenue on a per subscriber basis. As such, we've begun to test various add-on features with the goal of increasing revenues generated from existing subscribers as well as other users. The early results are very promising, and we believe these opportunities will increase revenue on an incremental basis. We look forward to reporting on the progress of these add-on features in upcoming months."
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates a social dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest social and mobile dating applications on the Internet and offers a completely integrated Facebook, iPhone, Android and Web dating application. AYI.com's mission is to improve the online dating experience of meeting new people by integrating a user's friends and interests to enable more meaningful connections.
The contents of our websites are not part of this press release, and you should not consider the contents of these websites in making an investment decision with respect to our common stock.
Facebook® is a registered trademark of Facebook, Inc. iPhone® is a registered trademark of Apple Inc. Android® is a registered trademark of Google Inc. AYI.com® is a registered trademark of Snap Interactive, Inc.
This press release contains "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates, forecasts and assumptions and are subject to risks and uncertainties. Words such as "anticipate," "assume," "believe," "estimate," "expect," "goal," "intend," "plan," "project," "seek," "target," and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to certain risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed by the forward-looking statements, including, but not limited to, the following: general economic, industry and market sector conditions; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to achieve break-even cash flow; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers or new subscription transactions; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the social dating marketplace; and circumstances that could disrupt the functioning of the Company's application and websites. In evaluating these statements, you should carefully consider these risks and uncertainties and those described under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other Securities and Exchange Commission filings.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
SOURCE Snap Interactive, Inc.