(Alliance News) - Iconic Labs PLC on Friday said it has formally relaunched Gay Star News and is in final talks for the website's first branded content campaign.
Shares in the media and technology business were up 12% at 0.073 pence in London on Friday.
Following a soft re-launch in November, the "leading LGBTI community platform" is already attracting more than 1 million people per month, with news articles published "regularly" and revenue generated from display advertising.
Iconic Labs, which is headquartered in London, noted that display advertising is priced on the basis of cost per impression, with industry standards for this pricing "dependent on many variables including device, type and genre of content, and time of year".
The company said it had "received significant interest in branded content partnerships" for Gay Star News, and is now in final talks with a partner for the website's first banded content campaign.
The intellectual property for Gay Star News was acquired through Iconic's acquisition of Nuuco Media Ltd for a nominal GBP1 and the payment of GBP33,000 to Nuuco's liquidator. In 2019, Gay Star News generated GBP500,000 in revenue and Iconic Labs believes is can improve this "significantly".
Iconic Labs Chief Executive John Quilan said: "We are delighted to relaunch [Gay Star News]. The ability of GSN to already get over 1 million users a month gives an indicator of its revenue potential but also of the capital value of the brand. We are very confident in building on this strong start and excited at the potential we are seeing in the sales pipeline."
By Anna Farley; annafarley@alliancenews.com
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Iconic Labs (ICON)