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Canadian media and tech company BBTV Holdings Inc (TSX:BBTV) announced on Monday, January 11, that it will be offering new services to content creators across all social media platforms of Instagram and TikTok. This expansion of services will be taking the margins of BBTV’s Plus Solutions further, the official statement said.
The company’ stocks rose by over 3.5 per cent on the back of this development on Monday morning (10:43 AM ET).
BBTV will reportedly be providing the influencers of these two platforms full control of their IPs and will also help boost their revenues through its direct sales solution across platforms such as branded campaigns.
BBTV chairperson and CEO Shahrzad Rafati said that with the creative content landscape “growing at unprecedented levels” across social media platforms, BBTV is “well-positioned” to provide content creators with end-to-end solutions to grow their viewership and revenue.
In the third quarter ending September 2020, BBTV saw its total number of views soar by 18 per cent YoY to 121.2 billion across all platforms.
©Kalkine Group 2021
BBTV Stock Performance & Financial Results
Stocks of this Vancouver-based company are currently trending on the Toronto Stock Exchange (TSX) for its high return on equity (ROE), currently standing at 853.39 per cent (as per TMX data).
BBTV made headlines last year after it wrapped up the largest IPO on TSX with a female founder and CEO, having raised gross proceeds of C$ 172.4 million at a share price of C$ 16 per piece.
Since their TSX debut in October 2020, BBTV stocks dropped by nearly 13 per cent in the last two and a half months. In December, however, the scripts climbed almost 17 per cent.
On the financial end, BBTV saw its revenues surge by 31 per cent year-over-year to C$ 120.7 million in the third quarter of 2020. The growth, the company said, was primarily fueled by the rise in views amid the pandemic and better ad sell through rates.
BBTV’s extension of new services to Instagram and TikTok comes at a time when both the platforms record billions of users. Instagram reported having a monthly active user base of over a billion, as of October 2020. TikTok, on the other hand, saw its popularity grow by leaps and bounds over the past year. The company reportedly expects its monthly active user base to surpass 1.2 billion.
