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Mar 31, 2023
Rumble Q1 2023 Earnings Report
Rumble's revenue increased significantly and user engagement grew.
Key Takeaways
Rumble reported a 336% increase in revenue to $17.6 million compared to Q1 2022. The increase was driven by advertising and licensing revenue. Minutes Watched Per Month increased to 10.8 billion.
Revenue increased by 336% to $17.6 million compared to Q1 2022.
Advertising revenue increased by $11.8 million due to increased consumption and new advertising solutions.
Minutes Watched Per Month increased to 10.8 billion from 10.5 billion in Q1 2022.
Acquired podcasting and livestreaming platform Callin.
Rumble
Rumble
Forward Guidance
Rumble is focused on building RAC and adding content to attract advertisers, positioning itself as the future of live digital sports and culture. They welcome independent creators and aim to deliver transparency to creators, users, and shareholders.
Positive Outlook
- Agreements for the rights to three sports leagues, SLS and NRX, in addition to the previously announced Power Slap.
- Addition of top streamers Kai Cenat and IShowSpeed.
- Strategic entry will prove essential as they build out RAC, the foundation for monetization.
- Addition of live sports and top streamers positions Rumble to become the home and future of live digital sports and culture.
- Acquisition of Callin will accelerate their product roadmap and enable them to build a world class live streaming experience.
Challenges Ahead
- Limited ability to collect data from certain aspects of their systems while they seek to improve their measurement capabilities.
- Limits may result in errors that are difficult to quantify, especially as the proportion of livestreaming on the Rumble platform increases over time, until they are able to measure MWPM directly.
- Bandwidth consumption includes video traffic across the entire Rumble platform, as well as what management believes is a nominal amount of non-video traffic.
- May not succeed in identifying and removing all spam.
- Key business metrics may not be comparable period-over-period.