Last checked at 17 Jun 2020 07:00
17 June 2020
Brave Bison Group plc
("Brave Bison" or the "Company")
AGM Statement
London, 17 June 2020: Brave Bison plc (AIM: BBSN), the social video group, announces that at the Annual General Meeting of the Company to be held today, Oliver Green, Executive Chairman of the Company, will make the following statement:
"In addition to a busy 2019, the last five months have been demanding for Brave Bison because of the Coronavirus pandemic. I am pleased to announce that very few of our colleagues or their families have been infected by COVID-19 or developed serious problems as a result of the virus.
I would like to take this opportunity to thank Kate Burns who stepped down as Chief Executive last week. Kate and I have been working closely over the past six months and, alongside Philippa, Matt and the rest of the leadership team, we look forward to building on the positive momentum our Company has built up in recent months.
Over the last year, we have built strong relationships with all of the major platforms including Facebook, Snap, YouTube, and more recently TikTok. By aligning ourselves with these platforms we believe we are well positioned to benefit from the growth in digital advertising spend and proliferation of digital media.
I would like to remind shareholders of our definitive and differentiated business model.
a) Advertising: we generate revenue by managing owned and partner channels across social platforms and now with The Hook, our first website. Advertising is inserted into the content we produce across these channels via programmatic ad exchanges. We receive a commission on this advertising revenue.
b) Creative Services: our creative and strategy teams work with clients directly and via agencies on social-first briefs and campaigns. Our services range in scope from influencer marketing and branded content to channel management and production. We charge clients fees for services provided.
Our recent acquisition of The Hook, a premium youth entertainment channel, has given us a presence on next-generation platforms, such as TikTok and Instagram. The Hook brand, and its audience, already has a good reputation amongst media agencies and the wider marketing industry having worked with the likes of Vodafone, Apple and Boohoo. The Hook will form an integral part of our social-first publishing strategy and we are confident that the acquisition price represents good value for shareholders.
We have developed broad and deep relationships with both Snap and TikTok and have recently become one of their creative partners. We distribute our own content across these platforms, as well as working alongside them with clients.
Our network of managed YouTube channels saw revenues grow by over 60% last year. YouTube continues to be an area of focus for us and, whilst we have seen a reduction in advertising across all social platforms during the pandemic, we are fully prepared to take advantage of a bounce back in marketing spend as lockdowns are lifted across the world.
Despite a softening in the JAPAC region since the beginning of the year due to COVID-19, we continue to work with new and existing clients within the branded content and influencer marketing space. We continue to review our overheads in line with performance, and we have made significant reductions to discretionary spending, lease and staff costs. Our team is now leaner, but nimbler, and we are well placed for recovery in the second half of this year and in the run up to the Olympics.
The Board has evolved significantly since the year end; we have welcomed Matt Law and Philippa Norridge, and give thanks to all outgoing colleagues for their hard work and commitment. Matt's experience in digital and creative services has already proven invaluable, whilst Philippa's financial acumen will be instrumental in the development of our Company. We are looking to bolster the Board with a further non-executive director in the near future.
Finally, we continue to look for growth opportunities. Mergers and acquisitions are a core part of our strategy to build a profitable, growing, media and marketing group.
I look forward to reporting our progress in our half year results over the summer."
For further information please contact:
Brave Bison Group plc
Oliver Green, Executive Chairman
Via Rebecca Abigail: +44 775 704 2837
Allenby Capital - AIM Nominated Adviser and Broker
Jeremy Porter / Asha Chotai
Telephone: +44 20 3328 5656
Rebecca Abigail Ltd
Abigail Carrigan, Account Manager
Email: abigail@rebeccaabigailpr.com
Telephone: +44 775 704 2837
About Brave Bison
Brave Bison is a social video group, specialising in cross-platform video content, connecting global audiences through social media. Its online communities reach over 135 million followers.
Brave Bison is one of the largest YouTube channel partners, with more than 700 channels offering targeted inventory opportunities, alongside in-house specialists that deliver audience development and optimisation. Brave Bison provides expertise across strategy, research, data driven insights, creative and production.
Brave Bison's cultural connections and extensive networks have built long-standing client relationships with brands including P&G, Land Rover and Lego. With more than 70 members of staff across London, Singapore, Japan and Korea, the eight-year-old business continues to stay at the forefront of this fast-moving digital age.