BRAND LOYALTY OF NOW MAGAZINE AND GEORGIA STRAIGHT REMAINS STRONG IN PRINT DESPITE COVID-19
Print Versions of the Iconic Publications Maintain 91%+ Pick UpRates
- Omnichannel media continues to offer advertisers access to a large and influential audience.
- Consolidating key audience remains a priority as MediaCentral actively pursues synergistic and accretive acquisition opportunities.
TORONTO, ON., April 30, 2020– Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) (“MediaCentral” or the “Company”) today announced strong pick up rates of over 91% from mid-March to the end of April for the print editions of its flagship publications NOW Magazine(“NOW”) and Georgia Straight (“Straight). Despite pressures from the global pandemic that has seen competitive brands temporarily or permanently cease print versions of their publications, MediaCentral continues to service its large and influential readership by printing weekly versions of its papers in both Toronto and Vancouver.
The strong audience engagement reflected through the consistent pick up of MediaCentral’s print editions is also mirrored in this valuable demographic’s interactions with the Company’s digital platforms. The Company recently reported double-digit growth in users, search impressions, and click-through across all three digital sites nowtoronto.com, straight.com, and canncentral.com. MediaCentral’s combined monthly audience of 6.5 million consumers makes it the largest publisher of alternative media in Canada and provides the Company with a solid platform from which to execute its strategy of monetizing an ever-increasing audience brought about through the further acquisition of currently targeted complementary publishers, agencies and technologies.
“For all the social distancing turmoil caused by the pandemic, our venerable readers continue to turn to the printed word. We are thrilled with the impressive pickup rate for NOW and the Straight, and we’re grateful for being able to provide our loyal readers with print editions of our particular brand of news, information, and entertainment during this extraordinary time,” said Brian Kalish, CEO of MediaCentral. “Our story hasn’t changed despite the disruption caused by the virus. We are going to deliver high-quality content omnichannel, across our print, digital and social media platforms as we continue to identify ways to grow and monetize our audience.”
With existing primary audience demographics consisting of urban, educated men and women who enjoy both a $100,000+ median household income and a high disposable income, the Company represents an innovative opportunity for players in the US$333.35 billion-dollar digital advertising industry clamoring to connect with influential consumers.
“Our hyper-engaged and premium audience is part of an extremely attractive demographic that advertisers want to engage with but don’t have one clear path to do so. Our unwavering strategy at MediaCentral is to exponentially increase our audience size. We will continue to aggressively pursue new opportunities to acquire additional readers, by acquiring additional publications. We are looking to maximize efficiencies in a severely fragmented market, that will ultimately have us capturing the single most coveted group of consumers in North America, and then using the most innovative digital tactics to monetize them,” said Kalish.
In addition to NOW and the Straight, the Company owns digital cannabis lifestyle platform canncentral.com and last week commenced beta-testing of a second digital property eCentralSports.com, which will cover the burgeoning world of egaming and sports.
MediaCentral is actively searching for synergistic and accretive acquisition opportunities to further expand the Company’s reach across North America as it continues to execute its strategy to consolidate, unify and monetize over 100 independent urban publications and their audiences.
About Media Central Corporation Inc.
Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) is an alternative media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com. MediaCentral is consolidating and digitally monetizing the over 100 million coveted and premium consumers of the approximately 100 alternative urban publications across North America, creating the most powerful audience of influencers.
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About Vancouver Free Press Corp.,
Vancouver Free Press Corp. owns and operates Georgia Straight and straight.com. Established in 1967 as the news, lifestyle, and entertainment weekly in Vancouver, the Georgia Straighthas been an integral part of the active urban West Coast lifestyle for over 50 years. Reaching over 56 million annual readers, every Thursday in print, and every day at straight.com, Georgia Straightdelivers an award-winning editorial package of features, articles, and reviews. Regular coverage includes news, tech, arts, music, fashion, travel, health, cannabis, and food, plus Vancouver’s most comprehensive listings of entertainment activities and special events. Vancouver Free Press Corp. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
About NOW Central Communications Inc.
NOW Central owns and operates NOW Magazine and nowtoronto.com. Since 1981 NOW has been Toronto’s news and entertainment voice, published in print every Thursday, and daily at nowtoronto.com. Reaching over 25 million annual readers, NOW has been a leading publication, defining and pioneering the independent and alternative voice for more than 38 years. NOW Central Communications Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release may include but are not limited to, statements with respect to internal expectations, expectations with respect to estimated margins, cost structures, and cost structures in the media industry. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the media industry generally, income tax and regulatory matters; the ability of MediaCentral to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive and should carefully review the various risks and uncertainties identified in the Company’s filings on SEDAR. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE: Media Central Corporation Inc.
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