Vancouver, BC — February 9, 2021 – Moovly Media Inc. (TSXV: MVY) (OTCPK: MVVYF) (FRANKFURT: 0PV2) (“Moovly” or the “Company”), by way of update, is pleased to announce that its paid Education subscriptions have grown more than 300% year over year. Additionally, the Company is pleased to announce it has now reached approximately 3.7 million total registered users on its platform.
Strong organic growth in the education technology sector as well as the more recent and urgent need for such technology during the pandemic have resulted in fully-paid Moovly Education subscriptions increasing 302% in the last 12 months. As a sector, the global e-learning market is expected to reach $337 billion by 2026, with a CAGR of 9.1%. As an example of a sector that relies heavily on video for its transmission, revenue in the MOOC (massive open online course) sector has increased from $5 billion 2 years ago to projected revenues of $21 billion in 2025 (National Centre for Education Statistics, 2020).
The recent addition of Moovly’s Zoom-style collaboration and communication tool has also proven to be a key element of this growth, being especially useful in the education sector. Moovly’s clients can use this communication tool in conjunction with their existing Moovly subscription, thereby dispensing with the need for a second, separate service.
Moovly CTO Geert Coppens notes: “Moovly is ideally positioned to benefit from the explosive growth in the education technology sector. The sector is growing rapidly and the changes that we are currently seeing due to the particular demands of the pandemic are expected to continue long after this current crisis is over.”
Moovly is the leading provider of creative cloud-based tools to create compelling marketing, communications and training videos and video presentations. Moovly’s advanced Studio Editor with millions of assets seamlessly integrated (via partnerships with Getty Images & Storyblocks) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly’s API and Automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy league universities, Moovly is an intuitive, cost effective choice for DIY creation of engaging video-based content.
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President, CEO and Director
CFO and Company Secretary
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This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information with respect to Moovly’s future business plans and the expected benefits of its products. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to, Moovly’s inability to continue to commercialize its products or demand for its products decreases or disappears. Other risk factors are set forth in detail in the Company’s Management Discussion and Analysis dated September 30, 2020 which is available for review under the Company’s corporate profile at www.sedar.com. Some other risks and factors that could cause the results to differ materially from those expressed in the forward-looking information also include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, unanticipated operating events; failure to obtain any necessary third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital and skilled personnel; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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Source: Moovly Media Inc.