TIDMICON

RNS Number : 6245B

Iconic Labs PLC

31 January 2020

31 January 2020

Iconic Labs Plc ("Iconic Labs" or the "Company")

Gay Star Relaunch & Final Negotiations on First GSN Contract

Iconic Labs Plc (LSE:ICON), a multi-divisional new media and technology business, is pleased to announce that it has relaunched leading LGBTI community platform, Gay Star News ('GSN').

GSN, which has been rebuilt and rebranded, already attracts over one million people each month. News articles are now being published regularly on GSN and revenue is being generated via display advertising, which is priced on a cost per impression basis (CPM). Industry standards for average CPM adverting rate are dependent on many variables including device, type and genre of content, and time of year.

The Company has received significant interest in branded content partnerships for GSN and the new rebranded website has meant that GSN is in final negotiations with a partner for its first branded content campaign.

GSN is currently in the top three of LGBTI publishers in the UK and focusses on creating content on news topics both within the LGBTI community and general news. It has a strong social presence on Facebook boasting over 800,000 followers, the support from a strong celebrity base and has pioneered campaigns and events which have had global exposure. GSN will continue to serve the LGBTI community but is inclusive to everyone.

GSN's platforms and content generation fit with the Iconic Labs business model of developing content and distribution channels for targeted influential audiences.

GSN was acquired by Iconic Labs for GBP33,000 in September 2019 as part of the Company's strategy to build critical mass and in particular expand its proprietary targeted distribution channels that can be utilised under the Iconic Labs brand offering. GSN generated over GBP500,000 in revenue last year, which the Iconic team believes they can significantly improve on through their experience and application of their expertise in the new media space.

The Company will provide further updates around the operations of GSN and its first prospective contract.

Chief Executive Officer, John Quinlan, said: "We are delighted to relaunch GSN. 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."

Chief Business Officer, Liam Harrington, said: "We are excited to relaunch GSN. The fact that the website is already getting 1 million users a month is a testament to the strength of the brand and the community."

ENDS

For further information, please visit the Company's website www.iconiclabs.co.uk or contact:

 
 John Quinlan     Iconic Labs Plc          c/o SBP Tel: +44 (0) 20 
                                            7236 1177 
 Damon Heath      Shard Capital Partners   Tel: +44 (0) 20 7186 9950 
                   LLP 
 Simon Leathers   Shard Capital Partners   Tel: +44 (0) 20 7186 9007 
                   LLP

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END

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(END) Dow Jones Newswires

January 31, 2020 09:21 ET (14:21 GMT)

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