Launches over 100 Brands in 2021 Across All Entertainment Networks
MINNEAPOLIS, Jan. 27, 2022 (GLOBE NEWSWIRE) — iMedia Brands, Inc. (“iMedia”) (Nasdaq: IMBI) announces significant progress in leveraging its merchandising vendor relationships, live entertainment expertise and entrepreneurial culture to record 34% revenue growth in November and December 2021 in its entertainment networks compared to the same prior year period. Entertainment revenues are comprised of the following iMedia businesses: ShopHQ, 1-2-3.tv, ShopHQHealth and ShopBulldogTV. These achievements in entertainment include:
iMedia launched over 40 new brands during Q3 and Q4 of 2021 across its entertainment networks. For the full year 2021, the entertainment networks generated about 19% of its revenue from new brand launches, which totaled over 100 new brands launched. Notable launches by the network include:
ShopHQ: Oro Mio 14k Italian Gold Jewelry, Imperial Pearl with Josh Bazar, Kelemata Bath & Body, MyFaceLift, Imperius Watches, Blue Stallion Farms Bath & Body, and Joyce Giraud Beauty.
1-2-3.tv: Abtey food brands, Innersun nutritional supplements, and Fenster studio decorations.
ShopHQHealth: FlowFlex Rapid At-Home COVID Test Kit, Step2Health, Eat Like A Woman, and Wakaya Wellness Tea.
ShopBulldogTV: Frogg Toggs Outdoor Gear, RockSolar Portable Power Generators, and IceCo Coolers.
On January 23 2022,1-2-3.tv broadcasted live for the first time on remote in the United States, enabling its watch enthusiasts who live in Germany to engage live with 1-2-3.tv’s host Dennis Pesch at Invicta’s headquarters in Miami auctioning exclusive Invicta watch collections. This live remote was so well received in Germany that 1-2-3.tv sold out of its Invicta inventory in just three hours. Invicta is also the best performing watch brand on ShopHQ and this remote was the first example of the synergy opportunities between ShopHQ and 1-2-3.tv.
“Brands matter.” said Tim Peterman, iMedia’s CEO. “Passionate employees and talented vendors matter. High expectations for value, quality, and performance matter. And it’s great to see that our customers appreciate our efforts.”
ShopHQ is a leading television retailing network that has been delivering live entertainment and quality products to its customers 24 hours a day, 365 days a year in the U.S. for over thirty years. Its on-air hosts engage with viewers by explaining and demonstrating the unique selling features of a balanced assortment of proprietary, exclusive, and national brands. It is available in over 84 million U.S. homes via cable, broadcast, and satellite, as well as through its mobile app, shophq.com and OTT platforms such as Apple TV, Roku, and Amazon Fire TV.
1-2-3.tv, acquired by iMedia in November 2021, is a leading interactive media company disrupting Germany’s television retailing marketplace with its expertise in proprietary live and automated auctions that emotionally engages consumers with 1-2-3.tv’s balanced merchandising mix of compelling products shipped directly to their homes. 1-2-3.tv reaches consumers via its television network available in 40+ million German and Austrian television households 24 hours a day, 365 days a year and via its online, mobile, and over-the-top (“OTT”) digital platforms.
About ShopHQ Health
ShopHQ Heath, launched by iMedia in 2020, is an emerging entertainment television retailing network featuring women and men’s advice, products and services that address their physical, mental, financial, and spiritual health, weight management and emerging categories within the telehealth medical services ecosystem. It is available in over 15 million U.S. homes via cable, broadcast, and satellite, as well as shophqhealth.com.
ShopBulldogTV, launched by iMedia in 2019, is an emerging entertainment television retailing network featuring men’s advice, entertainment, products, and services. It is available in under 10 million U.S. homes via cable, broadcast, and satellite, as well as shopbulldogtv.com.
About iMedia Brands, Inc.
iMedia Brands, Inc. (Nasdaq: IMBI) is a leading interactive media company capitalizing on the convergence of entertainment, ecommerce, and advertising. The company owns a growing, global portfolio of entertainment, consumer brands and media commerce services businesses that cross promote and exchange data with each other to optimize their consumer engagement experiences and to position the company as the leading single-source partner to television advertisers and consumer brands seeking to entertain and transact with customers.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This document may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact, including statements regarding the expected impact of COVID-19 on television retailing are forward-looking. The Company often use words such as anticipates, believes, estimates, expects, intends, seeks, predicts, hopes, should, plans, will and similar expressions to identify forward-looking statements. These statements are based on management's current expectations and accordingly are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): variability in consumer preferences, shopping behaviors, spending and debt levels; the general economic and credit environment, including COVID-19; interest rates; seasonal variations in consumer purchasing activities; the ability to achieve the most effective product category mixes to maximize sales and margin objectives; competitive pressures on sales and sales promotions; pricing and gross sales margins; the level of cable and satellite distribution for the Company’s programming and the associated fees or estimated cost savings from contract renegotiations; the Company’s ability to establish and maintain acceptable commercial terms with third-party vendors and other third parties with whom the Company has contractual relationships, and to successfully manage key vendor and shipping relationships and develop key partnerships and proprietary and exclusive brands; the ability to manage operating expenses successfully and the Company’s working capital levels; the ability to remain compliant with the Company’s credit facilities covenants; customer acceptance of the Company’s branding strategy and its repositioning as a video commerce Company; the ability to respond to changes in consumer shopping patterns and preferences, and changes in technology and consumer viewing patterns; changes to the Company’s management and information systems infrastructure; challenges to the Company’s data and information security; changes in governmental or regulatory requirements; including without limitation, regulations of the Federal Communications Commission and Federal Trade Commission, and adverse outcomes from regulatory proceedings; litigation or governmental proceedings affecting the Company’s operations; significant events (including disasters, weather events or events attracting significant television coverage) that either cause an interruption of television coverage or that divert viewership from its programming; disruptions in the Company’s distribution of its network broadcast to customers; the Company’s ability to protect its intellectual property rights; our ability to obtain and retain key executives and employees; the Company’s ability to attract new customers and retain existing customers; changes in shipping costs; expenses related to the actions of activist or hostile shareholders; the Company’s ability to offer new or innovative products and customer acceptance of the same; changes in customer viewing habits of television programming; and the risks identified under Item 1A(Risk Factors) in the Company’s most recently filed Form 10-K and any additional risk factors identified in its periodic reports since the date of such Form 10-K. More detailed information about those factors is set forth in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. The Company is under no obligation (and expressly disclaim any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.