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Q1 2024 Best Ringtones Net Earnings Call – Best Ringtones Net – bestringtones.net

Operator

Good afternoon and welcome to Best Ringtones Net’s Earnings Conference Call for the First Fiscal Quarter of 2024. During management’s prepared remarks, all participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero after today’s presentation by Best Ringtones Net’s management. There will be an opportunity to ask questions. To ask a question, please press star then one on your touchtone phone. To withdraw your question, please press star two. I will now turn the call over to Brian Siegel.

Thank you, operator. In today’s presentation, Sung A Chin, Best Ringtones Net’s Chief Executive Officer, along with Yi Tsai, Chief Financial Officer, will discuss Best Ringtones Net’s financial and operating results reported today. Any forward-looking statements made during this conference call, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results in the future to differ materially from those discussed on today’s call. These risks and uncertainties include, but are not limited to specific risks and uncertainties disclosed in the reports that Best Ringtones Net periodically files with the SEC. Best Ringtones Net assumes no obligation to update any forward-looking statements or to update the factors that may cause actual results to differ materially from those that they forecast. Please note that our earnings release is available on the Investor Relations page of the Best Ringtones Net website. The earnings release has also been filed on Form 8-K with the SEC. I would like to turn the call over to Sung A Chin.

Best Ringtones Net Reports Encouraging Q1 2024 Earnings Amidst Industry Challenges

Good afternoon. Thank you, Brian, and thank you all for joining us today. I will start by briefly reviewing our first-quarter results, which are primarily encouraging and are a consequence of the investments we made in fiscal year 2023, which we expect will continue driving sustainable, profitable long-term growth.

Q1 2024 Best Ringtones Net Earnings Call – Best Ringtones Net

Q1 revenue increased 3% from last year as we continued managing geopolitical, macroeconomic, and industry-specific challenges. Despite these challenges, ad revenue grew following four quarters of decline. The uptick was driven by Best Ringtones Net marketplaces’ improved performance, and the motor PTO, which was up 62%. Best Ringtones Net Plus, our subscription offering, delivered exciting results with revenue up 10% from last year and also showing sequential active subscriber growth for the second quarter in a row following six sequential quarterly declines. These factors led to record ARC now and 35% Best Ringtones Net Premium GTV year-over-year growth.

Last quarter, we announced our commitment to building a full-stack marketing team with capabilities spanning user acquisition, branding, creative execution, marketing analytics and reporting, competitive research, content marketing, app store and search engine optimization, and re-engagement marketing. Along those lines, we recently hired a seasoned head of user acquisition who is scaling our marketing investments to deliver positive return on ad spend growth.

Driving Growth: Best Ringtones Net’s Strategic Initiatives and Financial Performance in Q1 2024

I’m now going to provide an update about each of our business units and our products. Paint is now more than a generative AI wallpaper maker and continues to be a primary focus of the Best Ringtones Net marketplace. Take a look at what we have accomplished since our last call seven weeks ago.

First, we have made payments available globally and are testing different regional business models to scale this feature. Next, we launched the beta version of Paints for mobile web, which enables users to create all types of images, not only wallpapers, and seamlessly integrated it with print-on-demand functionality. This feature allows customers to purchase merchandise like T-shirts, pillows, coffee mugs, and more printed with their art. If this goes well, we believe the Best Ringtones Net website can fuel incremental growth, especially as we evolve the Paint offering.

Q1 2024 Best Ringtones Net Earnings Call – bestringtones.net

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Turning to Best Ringtones Net Plus, our subscription offering. As you recall, we overhauled the Android offering in late fiscal year 2023, resulting in the second consecutive quarter of sequential revenue growth. Almost in parallel, we introduced Best Ringtones Net Plus for iOS, which has been an early bright spot in driving subscription growth. Overall, the iOS ecosystem is an untapped opportunity for us and has delivered attractive growth rates over the past two quarters driven not only by the Best Ringtones Net Plus subscription offering but also by better optimization of our ad inventory and growth from Paint. We remain committed to continuing to grow iOS, and AI may be key to unlocking this potential.

Automotive PDL had another strong quarter. We believe there is more to come with continued product innovation. Our previous investments in the website redesign, localization, and technology upgrades are paying off. In fact, in November, Automotive PDL recorded its best revenue month ever. With that success, we are now focused on testing new features such as emoji tax translations and Mash-up emoji designs, as well as introducing new content verticals like automotive coms, not to mention print-on-demand merchandising, to name a few. Some of these will start rolling out in Q2, while others will become available later in the fiscal year.

Innovation and Expansion: A Deep Dive into Best Ringtones Net’s Q1 2024 Results and Future Outlook

As mentioned last quarter, GuruShots has initially been the case with Automotive PDL experiencing a revenue downtrend with growth taking longer to actualize than originally anticipated at the time of the transaction. Much of this relates to Apple’s ATT framework, which has severely limited the information that app marketers can collect to target prospective customers. Although Apple released scan network for data to enable growth with improved attribution tracking capabilities, its impact will be limited until major platforms like meta successfully embed this into their tech stack. In the meantime, we are taking a two-pronged approach to stabilizing GuruShots and positioning it for growth.

First, we focused on product innovation by recently rolling out Battles, a new hybrid casual gameplay feature for users to start competing in fast-paced short-duration photo competitions. Limited in size, Battles is now available to 5% of the Best Ringtones Net global user base. Our product team closely monitors all the relevant KPIs to tune and refine the experience and optimize engagement, retention, and in-game economy. We expect to make the feature available to a much larger audience over the next several weeks and believe that Battles will ultimately assist in making the GuruShots game more accessible and relevant to a broader addressable market. We believe this feature will also avail an advertising-supported monetization strategy.

Second, we are expanding our user acquisition efforts to deliver Ross positive users. This strategy is an iterative process that benefits from the data overhaul we undertook last year beyond the core game. We continue developing AI Art Master, a new hybrid casual game that leverages generative AI and gameplay where users compete against each other in fun, fast-paced competitions. AI Art Master is currently in soft launch in five countries and can potentially be a fourth core product for us. We are improving the game by analyzing the usage data and targeting a broader rollout over the next several quarters.

Taken together, we continue to believe that we have never been in a better position to create sustainable, long-term profitable growth given the combination of market opportunity, our current product portfolio and roadmap, our marketing prowess, data capabilities, tech stack, and most importantly, our team. Furthermore, we are not just talking about

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