Peeks Social Launches Web Platform

Peeks Social (TSXV:PEEK) announced the launch of its web platform that lets its viewers and broadcasters access and watch streams on a mobile friendly website.

The company also announced that Peeks Social App reached an all-time high of CS$513,830 in monthly user deposits. As compared to the prior month, this figure represents a six percent increase.

As quoted in the press release:

The launch of www.peeks.social is a key element of ongoing initiatives to increase user activity levels and revenues for the Company. Management anticipates that the mobile-friendly web version will amplify the capabilities of the platform in many ways, including by improving the conversion rate of new users into active and paying users, and by accessing new audiences of users who prefer consuming livestreaming video on their desktops. For example, desktop viewers who are following Peeks Social influencers through to Peeks Social from other social platforms will encounter fewer steps in the registration process resulting in higher conversion rates and ultimately a lower cost per installation for the Company. Users who are forwarded to the Peeks Social App from their desktops were previously required to download and install the App in order to interact and consume content. The Peeks Social platform can now be enjoyed in its full functionality from a desktop or on a mobile web browser.

The fully functional website is expected to increase the percentage of overall deposits made through the www.peeks.social website, resulting in higher margins for the Company. The majority of deposits currently received by the Peeks Social App are processed through in-app payments, which are subject to a 30% payment processing fee from their respective app stores. Deposits made through the website incur a fraction of these costs.

June Monthly Deposit Key Performance Indicator (“KPI”) increases 9.5%

The Company is pleased to announce that the Peeks Social App reached an all-time high of $513,830 CAD in monthly user deposits for June 2018 representing a 6% monthly increase over May 2018 (9.5% when results are normalized for a 30-day month).  User sessions were 2,035,000 for June 2018 (representing a 3% increase over May 2018 when results are normalized for a 30-day month).

Click here for the full text release.