VS Media sees 2024 revenue up 20% year-over-year

VS Media Holdings provided a Shareholder Update from its Founder and CEO Ivy Wong, which said, in part, “VSME continues to strengthen our ability to grow as we adapt to the evolving economic environment and needs of consumers in a digital age. Pointing to our recently shared financial updates from the fiscal year 2023, we have continued to showcase an expansion in our creator and brand base, delivering a 12.7% increase in campaign-based marketing, and solidified our financial strength with full year revenue of nearly $8M, with expectations of 20% revenue growth year-over-year for fiscal year 2024. Our strong financial guidance for the upcoming year is also driven by expectations that business activities will recover due to cross-regional brand partnership, artificial intelligence-enabled digital content, and the resumption of social commerce business mid-year. As we remain confident in the long-term business fundamentals, we announced that our Board of Directors has approved a 10b-18 share repurchase program with authorization to purchase up to 500,000 of the Company’s Class A Ordinary Shares. This plan is effective for up to a one-year period…On behalf of the entire leadership team and employees at VSME, I thank you for your trust in our commitment to delivering value to customers. We look forward to your continued support and are confident in the future success for 2024 and beyond.”