Live Stream E-Commerce Agreement Opens New Markets And Multiple Additional Revenue Streams
Melbourne, Australia: 8th April 2022 – My Rewards International Limited (ASX:MRI) (“My Rewards, Company”) is pleased to announce the addition of a live streaming service to its proprietary rewards platform, to be named MyRewardStream. This new service will complement the existing loyalty offering and assist with the Company’s customer acquisition model by attracting customers into the My Rewards ecosystem, and generate increased profit streams. The service will soon be accessible to My Rewards Clients and Suppliers via a content management system portal (CMS), and can be streamed globally via the My Rewards app.
Highlights
- My Rewards has signed an exclusive licencing agreement with Energetik Solutions (Energetik), a leading software development company with a complete private label live streaming e-commerce solution
- The licencing agreement will allow My Rewards to deliver exclusive content to its existing consumers and rewards members of its Corporate Clients, creating further revenue streams through revenue share of advertising fees, pay-per view and subscription fees
- The agreement with Energetik includes an option to purchase the platform within 3 months - if converted, this will provide an additional proprietary owned platform as a service (PaaS) offering
Following the conclusion of a pilot period, the Company plans to offer a “Vimeo” styled subscription model and service for B2B and B2C customers that offers the following benefits:
Benefits for Corporates
- Opportunity to reach customers, members and employees effectively with multiple content formats (video & audio, pictures) through a white-labelled streaming platform.
Benefits for Consumers
- Ability to access exclusive content and other promotions that are customised to members interests.
Benefits for Suppliers
- Opportunity to increase customer conversion, brand awareness and sales.
Key Terms of Agreement with Energetik
The rolling three-year licencing agreement with Energetik is exclusive with an annual fee of $20,000 in addition to a 50/50 revenue split between My Rewards and Energetik on revenues generated through this channel. The agreement is effective immediately and the new service is anticipated to be operational in April 2022 . Usual commercial termination provisions apply. The Board considers the potential benefit of the new service to flow to My Rewards to be significant.
The Company has an exclusive option to purchase the platform from Energetik within a three-month time period for A$2.5m of scrip at the greater of A$0.10 per share, or the average of the 10-day VWAP prior to exercise of the option.
“The functionality of the Energetik platform will allow My Rewards to seamlessly integrate video on demand and streaming services to further enhance the user experience as well as providing revenue generating potential via advertising and pay per view services.”
Maitreyee Khire, Managing Director of My Rewards International
Read the full announcement here.
TWO4SEVEN Signs With My Rewards
Melbourne, Australia: 7th April 2022 – My Rewards International Limited (ASX:MRI) (“My Rewards, Company”) announced another growth milestone as part of its strategy to scale its proprietary rewards platform via the contract signing with TWO4SEVEN, an events company servicing clients to provide sporting, travel and limitless experiences across globally. The team from TWO4SEVEN have an exclusive network which they have leveraged to curate exclusive entertainment and leisure packages on behalf of their clients.
Highlights
My Rewards secures agreement with TWO4SEVEN for loyalty, rewards and live stream commerce to be introduced to sporting clubs, corporate sponsors, entertainment ventures and advertisers.
The agreement with TWO4SEVEN is for an initial 12 month term with an option to extend, and will enable introductions to assist My Rewards in bringing their leading mobile technology and advanced e-commerce platform to the sports, hospitality, and entertainment industries. My Rewards’ proven platform (PaaS) can connect to existing technology ecosystems, facilitates e-commerce, and will deliver cutting-edge mobile-first experiences.
MyTeamRewards Solution
The MyTeamRewards solution is offered to clubs as a white labelled solution that will allow for club membership growth, club fundraising, member benefits and can feature Team and Event News, Community Updates, and the ability to access the Team Store to purchase merchandise. Going to the grassroots of Australian Sporting culture, My Rewards’ “MyTeamRewards" solution will assist sporting clubs and associations to connect with their member base, raise funds from local business and create communities of interest to support sporting ‘legends’ at all levels.
Benefits to My Rewards
In partnership with companies such as TWO4SEVEN, My Rewards will benefit from:
- Member growth via clubs and associations participating and interacting with the My Rewards Platform; and
- Path to profitability via member transactions and income from advertisers and sponsors.
Read the full announcement here.
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