NEW YORK, June 5, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (STVI), a leading online dating site developer and owner of AYI.com, today announced May subscriber information.
* Active subscriber count increased approximately 24% YTD through May 31, 2014 from approximately 77,700 as of December 31, 2013 to approximately 96,000 as of May 31, 2014;
* New subscription transactions increased approximately 36% YTD through May 31, 2014 as compared to the same period in 2013; and
* New subscription transactions in May 2014 increased 17% as compared to May 2013.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "We are excited to report our sixth consecutive month of subscriber growth, with an increase in our active subscriber base of 24% during the first five months of 2014. We have achieved this growth in subscribers despite reducing our monthly advertising and marketing expenses by over 25% since January 2014. Our marketing efficiency continues to be enhanced by constant experimentation and optimization driving user engagement and conversion to subscriptions."
SNAP's Chief Operating Officer, Alex Harrington, added, "SNAP's active subscriber count is an important operating metric, since revenues from multi-month subscriptions are recognized over several months, and subscribers are eligible to automatically renew their subscriptions. We expect to see the impact of this growth in upcoming months as subscription revenue from these new subscribers is recognized. We are excited to get our story to investors reflecting the strong fundamentals of the business, and have recently published an investor deck to our website at http://www.snap-interactive.com/investor-relations/investor-presentations/."
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates a social dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest social and mobile 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/, its online dating blog at http://www.ayi.com/dating-blog, on Facebook at facebook.com/SnapInteractiveInc and on Twitter at @SNAPInteractive.
For more information on SNAP, please visit http://www.snap-interactive.com/, 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.
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.