Mr. Terence Chan reports

ZOOMERMEDIA LIMITED ANNOUNCES THIRD QUARTER 2022-23 FINANCIAL RESULTS

ZoomerMedia Ltd. has released its financial results for the third quarter ended May 31, 2023.

Consolidated results

For the nine months ended May 31, 2023, the company generated revenues of $48.1-million, operating expenses of $42.8-million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $5.3-million. Net income for the same period was $300,000.

For the comparative nine months ended May 31, 2022, the company had revenues of $41.1-million, operating expenses of $32.4-million and adjusted EBITDA of $8.7-million. Net income for the nine months was $4.5-million.

Additional information

Detailed financial information and management's discussion and analysis for the nine months ended May 31, 2023, can be found on SEDAR's website. The financial information included in this release is qualified in its entirety and should be read together with the interim consolidated financial statements for the nine months ended May 31, 2023, including the notes thereto.

About ZoomerMedia Ltd.

Founded by television and media icon Moses Znaimer in 2008, ZoomerMedia is a multimedia company devoted to creating content, services and experiences for Canada's most powerful audiences: the 17.2 million people aged 45-plus also known as zoomers, and the 13.7 million millennials and Generation Zs, coincidentally also called zoomers, who follow in their footsteps.

ZoomerMedia operates five TV, two radio, three print and 17 digital properties, including the newly acquired youth-friendly local news and lifestyle digital publication blogTO, dailyhive, The Peak and Ludwig-Van. ZoomerMedia produces original TV, radio and podcast programming, and offers clients creative audio and video production services and bespoke events on site at its 2.6-acre complex in Toronto's Liberty Village.

ZoomerMedia's television properties include: VisionTV, available in 7.5 million households, is Canada's home for British comedy and drama series, plus uplifting movies, music, news, and multicultural and multilingual faith programming; OneTV: the exercise and entertainment channel, combines original yoga, pilates, tai chi and cardio fitness series with British serial soaps, dramas and American movies; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and Faith TV in Winnipeg are devoted to broadcasting Christian, multifaith and local content.

ZoomerMedia's digital properties include: blogto, Canada's unrivalled local publisher across digital and social media platforms, bringing in eight million monthly active users and over 360 million page views annually; dailyhive, the dominant platform in Western Canada and one of the country's most followed news brands with over nine million monthly active users, nearly 300 million annual page views, and 3.1 million followers across Instagram, TikTok, Facebook, Twitter and LinkedIn; Everything Zoomer, Canada's leading provider of on-line content targeting the 45-plus; Read the Peak, serving busy Canadian professionals and business leaders with the top global business, finance and technology stories of the day packaged in smart, fast and easily digestible formats, including its daily newsletter, podcast, TikTok and Instagram; and Ludwig-Van, Canada's leading and fastest growing digital voice for the latest classical, opera, chamber and choral music headlines, reviews, comments, and personality-driven features and interviews.

ZoomerMedia's radio properties include: the New Classical FM, Canada's only commercial all-classical music radio station broadcasting over three frequencies in a unique regional Ontario network: 96.3FM CFMZ-FM Toronto (Greater Toronto Area), 103.1FM CFMX-FM Cobourg (Eastern Ontario) and 102.9FM CFMO-FM Collingwood (Southern Georgian Bay); and Zoomer Radio, the original greatest hits, the biggest broadcast footprint in Canada also reaching 28 American states and broadcasting simultaneously both in AM and FM in Toronto (740AM CFZM-AM and 96.7FM CFZM-FM).

ZoomerMedia's print properties include: Zoomer Magazine, the company's flagship magazine and Canada's largest paid circulation magazine for the 45-plus market; On The Bay Magazine, a dominant regional lifestyle magazine published quarterly for the 20 towns and villages of Ontario's Southern Georgian Bay; and Tonic Magazine, a regional health and wellness magazine published bimonthly and distributed across the city of Toronto.

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