InvestorNewsBreaks – Sanwire Corporation (SNWR) Subsidiary Releases Record-Breaking Q3 Financial Results, Shareholder Update
Nov 22, 2022
Sanwire (OTC: SNWR), an entertainment technology innovator, and its wholly owned subsidiary Intercept Music are reporting third-quarter 2022 financial results along with key corporate updates. According to the announcement, revenues for the quarter are record breaking, with revenue totals coming in 250% higher than Q2 2022 and 350% higher than Q3 2021; the company attributed the record numbers to three things: its “everything” dashboard, a growing list of marketing services and 100% data transparency. An update for the company noted that the business model is solidifying, with labels being the best source of new artists. While Intercept makes the least margin on distribution, the music increases demand for Intercept’s marketing services, which deliver the highest margin and represent a higher gross profit. In September 2022, Intercept began offering marketing services to outside artists and labels, which has led to an increase in marketing service sales.
The company is also seeing success from sophisticated labels, such as the Sapphire group of labels. Intercept has also expanded into the Latin market, with its website and software now available in Spanish and Portuguese, along with multilingual staff who are trained to support every department, including customer sales, support, onboarding, marketing services and distribution. Intercept Music Inc is a multifaceted label and artist-centric platform solution provider that champions creative musicians. “During fourth quarter 2022, we will continue to expand in the Latin markets,” the company stated in the press release. “We also expect to announce several major global partnerships that will drive U.S. sales in 2023. We will launch more marketing services, and we hope to add more music catalogs. With several successive quarters of growth, the company will be finalizing its funding and capital requirements for the medium term and should be done by the end of the fourth quarter 2022. We believe that with the explosion of music being created, the success of digital promotion, and the merger activities taking place within the music industry, the time is right now.”
To view the full press release, visit https://ibn.fm/fx3Ku
About Sanwire Corporation
Sanwire, a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. Sanwire seeks opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. The company’s current focus is advanced entertainment technologies. For more information about the company, visit www.SanwireCorporation.com or www.InterceptMusic.com.
NOTE TO INVESTORS: The latest news and updates relating to SNWR are available in the company’s newsroom at https://ibn.fm/SNWR
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.
More News
Anthropic Joins the A.I. Agent Race With Claude Duet
The tool, which is not yet widely available, will compete with OpenAI’s dots and Meta’s Muse. It is built for work and not personal errands.
Meta Earnings Show Increased A.I. Spending, Even as Cash Pressures Grow
The spending has hurt the Silicon Valley giant’s cash flow, which turned negative. Meta said it would issue a new class of stock to help it raise more money.
Websites pulled offline worldwide as AI finds critical security flaws
Government agencies and companies around the world shut down websites Wednesday after two critical flaws came to light involving PHP, a programming language that is the basis for a large share of the internet. PHP sits underneath popular web design platforms, so the weaknesses potentially affect a vast range of websites, from online stores and news outlets to government services. Wiz, one of the security firms that found the flaws, estimated that PHP runs about 70 per cent of the world’s...
Why is a peat fire so bad? BBC is in Indonesia to find out
The BBC's Liza Tambunan is in central Kalimantan, to explain what peat is and why Indonesia is facing its worst wildfire season in a decade.
Carney appoints astronaut Jeremy Hansen to advise government on new space strategy
Prime Minister Mark Carney has appointed Jeremy Hansen as a special adviser on space — just as the United States takes note of Canada's efforts to shift its space partnerships toward Europe.
Cyclone Josephine forms near US East Coast as nine states are warned of storm's impact
Hurricane trackers announced that Cyclone Josephine has formed off the US East Coast. Forecasts show nine states could see storm impacts for days.
Elon Musk Says SpaceX and Tesla Are Exploring a Merger
A deal would consolidate Elon Musk’s holdings in rockets, cars and artificial intelligence into a company worth well over $3 trillion.
French bond yields hit 24-year high after unrest
French bond yields have topped 5%, their highest level since 2002, after widespread protests and violence over the weekend. It's a sign that investors are losing confidence in France's finances, as the government grapples with budget and debt problems. Also in the show - chipmaker Nvidia says it's invested $10 billion in European tech firms to boost the 'AI economy,' and the UK approves a controversial natural gas field as PM Andy Burnham faces pressure over energy costs.
New lab to become centre for investigating uplands
The research facility in Penrith will also help train the next generation of environmental scientists.
C.D.C. Ignored Request From States to Validate a New Measles Test
The agency replied two months later, saying it had “competing priorities,” officials from a coalition of Western states said.
Pieces of Halley's Comet behind chilling doomsday panic to blaze across America's skies in hours
Pieces of Halley's Comet are set to blaze across the skies tonight, but the famous comet has a dark history of fueling chilling doomsday fears.
Websites taken down worldwide as critical cyber-security update issued
The vulnerabilities with PHP, a programming language widely used across the internet, have been described as the most significant ever found by AI.
Recommended
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.