Snap Interactive Announces July 2014 Active Subscriber Growth Driven By Mobile
* Active subscriber count has increased 28% YTD through July 31, 2014;
* July 2014 was the eighth consecutive month of active subscriber growth; and
* July 2014 was the highest monthly new transaction volume on mobile platforms in over two years.
NEW YORK, Aug. 5, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating provider and owner of AYI.com, today announced July 2014 subscriber information.
- Active subscriber count increased approximately 28% YTD through July 31, 2014 from approximately 77,700 as of December 31, 2013 to approximately 99,500 as of July 31, 2014;
- New subscription transactions increased approximately 34% YTD through July 31, 2014 as compared to the same period in 2013; and
- New subscription transactions in July 2014 increased 38% as compared to July 2013.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "July 2014 was our eighth consecutive month of subscriber growth, with a 28% increase in the number of our active subscribers during the first seven months of 2014. We were pleased to continue to grow our active subscriber base despite continued discipline in maintaining controlled levels of advertising and marketing expense."
SNAP's Chief Operating Officer, Alex Harrington, added, "Over the last several months we've focused on diversifying our user acquisition sources, focusing increasingly on mobile and other channels, which has helped with our recent cost-efficient subscriber growth. In fact, July 2014 represented the highest volume of new subscription transactions on our mobile platforms in over two years. Continued mobile growth is a priority in 2014, and will be key to our success."
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates an online dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest online dating applications on the Internet and offers a completely integrated Facebook, iPhone, Android and Web dating application. AYI.com's mission is to improve the online dating experience of meeting new people by integrating a user's friends and interests to enable more meaningful connections.
For more information on SNAP, please visit http://www.snap-interactive.com/ or its online dating blog at http://www.ayi.com/dating-blog, on Facebook at facebook.com/SnapInteractiveInc and on Twitter at @SNAPInteractive.
The contents of our websites are not part of this press release, and you should not consider the contents of these websites in making an investment decision with respect to our common stock.
Facebook® is a registered trademark of Facebook, Inc. iPhone® is a registered trademark of Apple Inc. Android® is a registered trademark of Google Inc. AYI.com® is a registered trademark of Snap Interactive, Inc.
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This press release contains "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates, forecasts and assumptions and are subject to risks and uncertainties. Words such as "anticipate," "assume," "believe," "estimate," "expect," "goal," "intend," "plan," "project," "seek," "target," and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to certain risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed by the forward-looking statements, including, but not limited to, the following: general economic, industry and market sector conditions; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to achieve break-even cash flow; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers or new subscription transactions; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the social dating marketplace; and circumstances that could disrupt the functioning of the Company's application and websites. In evaluating these statements, you should carefully consider these risks and uncertainties and those described under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other Securities and Exchange Commission filings.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
SOURCE Snap Interactive, Inc.