Rumble Inc. (NASDAQ:RUM) Q2 2023 Results Conference Call August 14, 2023 5:00 PM ET
Company Participants
Shannon Devine - IR
Chris Pavlovski - Founder, Chairman and CEO
Brandon Alexandroff - CFO
Tyler Hughes - COO
Conference Call Participants
Thomas Forte - D.A. Davidson
Jason Helfstein - Oppenheimer
Operator
Ladies and gentlemen, greetings, and welcome to the Rumble Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.
It is now my pleasure to introduce your host, Shannon Devine, Investor Relations for Rumble. Please go ahead.
Shannon Devine
Thank you, operator. I’m here today with Chris Pavlovski, Founder, Chairman and CEO of Rumble; Brandon Alexandroff, the CFO; and Tyler Hughes, the COO. A press release detailing our second quarter 2023 results was released today and is available on the Investor Relations section of our company website. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates or other information that might be considered forward-looking. All forward-looking statements are made only as of the date of this webcast and should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our filings with the SEC. Future company updates will be available via press releases and via the company’s identified social media channels.
I will now turn the call over to Rumble’s Founder, Chairman and CEO, Chris Pavlovski.
Chris Pavlovski
Hello, and thank you for joining us today. The second quarter of 2023 marks one of the most revealing quarters in the history of Rumble. Our business model is working and starting to provide exceptional results ahead of our expectations. I can say confidently, Rumble’s content portfolio is now diversified. The diversified content in a time with a slow news cycle in conjunction with major video and streaming product improvements has helped drive Rumble’s consumption to an all-time high of an estimated 11.8 billion average minutes watched per month in the second quarter. Rumble’s average MAUs were 44 million with significant growth in the coveted 18 to 25 demographic due to our expansive content offerings and declines in the older demos, partly due to a slow news cycle and news fatigue. We anticipate the older demos to start growing in the later half of 2023 and 2024 as the presidential election cycle starts to ramp up. The new sports leagues and top cultural influencers are now starting to show gains with brand advertisers.