BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (Frankfurt: 64V) (“BBTV” or the “Company”), the leading creator monetization company with a mission to help creators become more successful, today announces the launch of BBTV Fast Pay, a premium Base Solution that expedites monthly payments for creators, delivering fresh capital for them to use for growth.
- Following registration to BBTV Fast Pay, creators will receive their current and next month of earnings for their first pay period, providing up-front capital that can be used to invest in content creation and growth.
- BBTV Fast Pay is being offered at a competitive fee to help creators grow more quickly.
- This announcement comes on the heels of BBTV’s recent deal with Spotter for up to US$125 million with $18M deployed already, as the company develops new solutions to leverage BBTV’s extensive library of content and scale to add incremental bolt-on revenue to the business.
- The Company is also exploring Web3 payment solutions that would make cryptocurrency part of our daily interactions with content creators.
"We consider content creators to be entrepreneurs who need access to financial resources to grow their business and we are here to deliver. BBTV is a one-stop-shop for everything a creator needs to grow their views and revenues,"
commented Ben Groot, CFO, BBTV Holdings Inc.
"We are hyper-focused on providing a comprehensive and innovative suite of solutions to help creators succeed. BBTV Fast Pay is an important enabler for creators to access their funds more quickly and accelerate their growth. This is also an important and growing facet of our Base Solutions, leveraging our existing library of content and scale to expand gross margins."
BBTV Fast Pay shortens the payment period from the current 45 days to 15 days following each month end for a competitive fee. Content creators who opt-in for BBTV Fast Pay start by receiving their current and next month of earnings at the same time and those funds can be leveraged to invest in more content and growth initiatives. A new premium addition to the Company’s Base Solutions offering, BBTV Fast Pay represents incremental growth to BBTV Gross Profit and BBTV Share, which is a non-IFRS measure, defined as revenue less content creator and third-party platform fees.
In addition to BBTV Fast Pay, the Company is exploring the option for monthly payments to its creators to be paid in cryptocurrency. As early as this December, certain BBTV creators will have the option to receive their earnings as a selection of crypto currencies including BTC, ETH and USDC stablecoin instead of the US Dollars or other fiat currencies currently sent. To the Company’s knowledge, BBTV is the first listed media company to offer this service to creators.
Information provided by FinancialNewsMedia.