Snap Interactive Announces Subscriber Growth; New Subscription Transactions Increase 44% in Q1 2014 vs Q1 2013; Active Subscribers Increase 16% Year-To-Date in 2014
NEW YORK, April 3, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating site developer and owner of AYI.com, today announced highlights of key operating metrics from the first quarter of 2014.
* New subscription transactions increased 44% in Q1 2014 vs Q1 2013;
* New subscription transactions increased 30% in Q1 2014 vs Q4 2013;
* Active subscriber count has increased 16% YTD in 2014; and
* AYI.com active subscriber count at the end March of 2014 was approximately 90,000 subscribers, the highest count since March 2013.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "The first quarter of 2014 was AYI.com's strongest quarter in terms of growth in active subscribers in quite a long time. We are proud of our 16% growth in our active subscriber base during the quarter. We've been able to grow our subscriber count since December 2013 and look forward to continuing to increase the number of our active subscribers."
Mr. Lerner continued, "We've come a long way in improving our flagship AYI.com service in the last year. We made a commitment to refining our application development process, and investing in big-data technology, and those investments are paying off, as demonstrated by the 44% increase in new subscription transactions in Q1 2014 as compared to Q1 2013. Our world-class testing framework enables us to run dozens of weekly experiments to optimize our customer experience. Furthermore, we believe AYI.com is poised for continued growth, with a differentiated feature-set that leverages 10 billion social data points connecting users through friends and interests."
SNAP's Chief Operating Officer Alex Harrington added, "We are excited about the gains in active subscribers, which demonstrate that SNAP's business is performing exceptionally well. What's particularly exciting is that ongoing subscription revenue from these subscribers is yet to be recognized, and we expect to see the impact of this growth in the upcoming months."
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.
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 grow 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.