NEW YORK, March 5, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating site developer and owner of AYI.com, today announced that the number of active subscribers on AYI.com increased 6.5% during the month of February 2014, which was the largest monthly increase in active subscribers since February 2012 and the third consecutive month of growth in active subscribers.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "February was AYI.com's strongest month in terms of growth in active subscribers in two years. We were able to build on our strong increase in active subscribers in January 2014. In the first two months of 2014, we've been able to grow our active subscriber base approximately 12% from 78,000 to 87,000."
Mr. Lerner continued, "New subscription transactions for February 2014 were up 52% as compared to February 2013 and up 54% in the first two months of 2014 as compared to the first two months of 2013. We believe we can continue to grow our active subscriber base during 2014 while tightly controlling costs, and we reiterate our focus on achieving break-even cash flow during the third quarter of 2014."
SNAP's Chief Operating Officer Alex Harrington added "We have been focusing on optimizing our feature set and improving the return on our advertising and marketing campaigns. Accordingly, we continue to see improvements in the rates at which our users convert to paid active subscribers. Growth in our active subscribers is a leading indicator of the health of our business, and we expect continued growth in the number of active subscribers during 2014 as we move towards profitability."
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.
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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 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.
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SOURCE SNAP Interactive, Inc.