Rumble Inc. (NASDAQ:RUM) Q2 2024 Earnings Conference Call August 12, 2024 5:00 PM ET
Company Participants
Shannon Devine - IR
Chris Pavlovski - Founder, Chairman and CEO
Brandon Alexandroff - CFO
Conference Call Participants
Jason Helfstein - Oppenheimer & Company
Scott Devitt - Wedbush Securities
Operator
Ladies and gentlemen, greetings and welcome to the Rumble Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Shannon Devine, Investor Relations. 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 2024 results was released today and 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 this 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 release and company updates 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
Thank you, Shannon.
As indicated by our results, the second quarter is solid and early signs in the third quarter are starting to get me very excited about both our Video and Cloud businesses. The Rumble Video platform is now at a stage where I believe our user interface and user experience are becoming comparable to YouTube.
The tools we've built to monetize the platform are starting to work and accelerate. Even with advertising boycotts and artificial headwinds, which I will explain it more later, we were able to grow our users, ARPU, and revenue with our shift and organizational focus to revenue, I previously committed to introducing average revenue per user, or ARPU, as a key business metric this year, better reflecting management's evolving assessment of our business. This quarter, we took that step and introduced ARPU for the second quarter ARPU was $0.37, representing growth of 19% versus $0.31 in the first quarter.
Additionally, our 53 million MAUs this quarter represented our 10th consecutive quarter of MAUs, over 40 million in growth over the first quarter of 2024. As you may have seen, it has been a very busy few weeks in the advertising world. A few weeks ago, an investigation by the House Judiciary Committee Chairman, Jim Jordan revealed a troubling conspiracy centered around an initiative called the Global Alliance for Responsible Media, known as GARM.