Rumble Inc. Q3 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Quarter Overview: Rumble reported Q3 2024 revenue of $25.1 million, an increase of 39% compared to $18 million in Q3 2023, driven by growth in audience monetization and other initiatives.
  • Monthly Active Users (MAUs): Reached 67 million, up significantly leading into and during the U.S. presidential election period, solidifying the platform as a key player in the independent media space.
  • ARPU (Average Revenue Per User): Declined to $0.33 in Q3 2024 from $0.37 in Q2 2024. Management noted this was expected as revenue lagged behind surging user growth due to election-related traffic.
  • Rumble Premium: Launched in May 2024 as an ad-free experience. Benefited from September’s introduction of mid-roll ads and election-night addition of exclusive content (e.g., Steven Crowder’s MugClub). Subscription growth exceeded expectations.
  • Advertising & Monetization: Mid-roll ads launched in Sept boosted ad revenue and Premium subscriptions. The Rumble Advertising Center (RAC) is now fully operational and contributed meaningfully to Q3 performance, with more significant contributions expected in Q4.

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Operator: Good afternoon ladies and gentlemen and welcome to the Rumble Inc. Third Quarter 2024 Earnings Call. All participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that this event is being recorded. I would now like to conference over to Shannon Devine, Investor Relations for Rumble. Thank you. Shannon Devine: Thank you, operator. I'm here today with Chris Pavlovski, Founder, Chairman, and CEO of Rumble; and Brandon Alexandroff, CFO. A press release detailing our third 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. Wow, what a couple of weeks. It's been two years since we first became public and since we hosted our first earnings c

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