Snap Interactive, Inc. (“SNAP” or the “Company”) (OTCQB: STVI), a leading online dating site developer and owner of AYI.com, today announced subscriber metrics for the month of August 2014.
- Active subscriber count increased approximately 27% YTD through August 31, 2014 from approximately 77,700 as of December 31, 2013 to approximately 98,600 as of August 31, 2014;
- New subscription transactions increased approximately 35% YTD through August 31, 2014 as compared to the same period in 2013;
- New subscription transactions in August 2014 increased 44% as compared to August 2013.
- Total subscription transactions in August 2014 were the highest since October 2012
- August recurring subscription transactions were the highest since December 2012.
- August was the second highest month this year for new subscription transactions after February
SNAP's Chief Executive Officer, Clifford Lerner, commented, “August was another strong month for AYI.com. New subscription transactions in August 2014 increased 44% compared to August 2013. Even more exciting is that August was the strongest month since 2012 for the number of recurring and total subscription transactions.”
Lerner added, “Although our total active subscriber base declined slightly from the end of July, this was mostly due to seasonality effects. It's difficult to gain subscribers in August because of seasonal attrition of 6 month subscribers who signed up on or around Valentine's Day, the busiest period of the year. August was second only to February this year in the number of new subscriptions, and, notably, tallied the highest number of total subscription transactions since 2012. This high level of subscription transaction volume represents continued momentum in the business, as the associated revenue will be recognized for months to come.”
SNAP's Chief Operating Officer Alex Harrington added “Another exciting development in August was the launch of paid add-on features within the AYI application. Two feature introductions include ‘Promote Me', a paid feature that allows users to increase their profile visibility, and ‘First Class Mail', a feature that offers users the ability to increase the prominence of their messages to other users. These new features increase user engagement in the application, and the transactional revenue generated through these features allows AYI to increase the lifetime value of its users.”