Mr. Mark Itwaru reports
PEEKS SOCIAL LTD. PROVIDES AN UPDATE ON PERFORMANCE OF THE PEEKS PRODUCT
Peeks Social Ltd. has provided details on certain key performance indicators (KPIs) relating to the Peeks product. The company routinely monitors certain KPIs that it has identified as important in understanding the performance of the Peeks product. Over all, Peeks has experienced strong month-over-month growth across tracked metrics with the exception of a 3-1/2-week period where the Peeks app was unavailable in the Apple App Store (see press releases dated Jan. 17, 2017, and Feb. 13, 2017). The temporary absence from the Apple App Store had a negative impact on user growth, which also resulted in a decreased amount of viewable and tippable content and a general temporary decline across most tracked metrics. Since the reinstatement of the Peeks app on the Apple App Store in mid-February, upward trends across most tracked metrics have been re-established.
The associated table provides a summary of select KPIs for the Peeks app. The company earns licensing revenue based on the gross revenue earned by the Peeks app (see press release dated Oct. 19, 2016). While the dollar-deposited-per-registered-user KPI is an important KPI for the Peeks product, it is not a direct indicator of the company's financial performance.
November, December, January, February,
Key performance indicator 2016 2016 2017 2017
Total number of user sessions (1) 405,800 579,400 1,265,700 1,044,700
5 min 8 min 9 min 7 min
Avg. user session duration (1) 41 sec 18 sec 11 sec 30 sec
Avg. monthly $ deposited per registered user (2) $0.15 $0.46 $1.11 $0.62
Avg. monthly $ deposited per registered user (annualized) (3) $1.80 $5.52 $13.32 $7.44
Gross tips received by No. 1 broadcaster (4) $437 $3,663 $18,038 $16,721
Total gross tips received by top 10 broadcasters (5) $2,535 $12,752 $38,782 $32,688
Notes
(1) These two KPIs represent the number of times the Peeks app was accessed by users and the average
duration of use, respectively. Data were provided through Google Analytics. For additional
information on Google Analytics' definition of session and the methods of calculating
sessions, please refer to the Google Analytics website.
(2) This KPI calculates the total dollar amount deposited in the Peeks service by registered users
in a calendar month, divided by the number of registered users as at the end of that month.
(3) This KPI is calculated by multiplying the monthly figure in note 2 by 12. The industry standard
for the presentation of per-user amounts is on an annualized basis. This figure is presented
for comparison purposes only and since it is calculated on a monthly basis, it may not represent
a true annualized amount.
(4) This KPI represents the total cash tips paid by viewers to the top-earning broadcaster in the
Peeks platform for each month.
(5) This KPI represents the aggregate of all cash tips paid by viewers to the top 10 earning
broadcasters in the Peeks platform for each month.
As demonstrated in the table, the total number of monthly user sessions increased 157 per cent from 405,800 in November, 2016, to 1,044,700 in February, 2017. November, 2016, was the first operating month for the Peeks service. The peak number of monthly user sessions to date was 1,265,700, reached in January, 2017. The company expects the positive trend in the increased number of sessions to continue due to an increasing user base and the continuing addition of both professionally created and user-created content.
As demonstrated in the table, the average duration of user sessions increased 32 per cent from five minutes and 41 seconds in November, 2016, to seven minutes and 30 seconds in February, 2017. Average user session times reached a peak of nine minutes and 11 seconds in January, 2017. The company believes the increase in average session duration is due to the larger volume and a wider variety of viewable content. The company expects the average duration of user sessions to continue to increase with the continuing addition of both professionally created and user-created content. As of today, there are over 1.3 million videos available for viewing on the Peeks service.
As demonstrated in the table, the annualized dollars deposited to the Peeks service per user on a monthly basis increased 313 per cent from $1.80 in November, 2016, to $7.44 in February, 2017. Annualized dollars deposited per user peaked at $13.32 in January, 2017. The company believes the increase in dollars deposited per user is a result of both an increasing average deposit amounts and a growing number of users utilizing the wallet feature. The increased use of the wallet feature is likely due to an increased amount of viewable and tippable content, resulting in greater consumer spend. Registered users may deposit or withdraw funds to their Peeks account at any time. The company believes this is an important KPI that demonstrates a crucial component of user engagement with the Peeks service.
As demonstrated in the table, the top 10 monthly broadcasters in Peeks by tips from viewers received a combined total of $32,688 in February, 2017, as compared with $2,535 in November, 2016, an increase of 1,189 per cent. The top Peeks broadcaster received $16,720 from viewers in February, 2017, as compared with $437 by the top Peeks broadcaster in November, 2016, an increase of 3,726 per cent.
"We are very satisfied with the product's performance to date. The Peeks product has been able to monetize a user base only four months after launch. The company will continue to tweak the service to maximize the money generated on a per-user basis, as well as execute on our marketing plan to add as many users to the Peeks platform as possible. The numbers will speak for themselves," said Mark Itwaru, chief executive officer of Peeks Social.
We seek Safe Harbor.
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