NEW YORK, NY / ACCESSWIRE / March 25, 2020 / Holographic communication gradually reveals the possibility of realization along with the development of 5G. Recently, WIMI Hologram Cloud, China's 5G communication holography is going to launch an IPO on NASDAQ.
For the year ended December 31, 2019, WIMI total revenues were approximately RMB 318.0 million (USD 45.6 million), indicating an increase of approximately 41.1%, from RMB 225.3 million (USD 32.3 million) for the year ended December 31, 2018. The company estimates that approximately 82.7% of WIMI revenues were generated from WIMI holographic AR advertising services and 17.3% from WIMI holographic AR entertainment services in 2019, as compared to 80.5% and 19.5%, respectively, in 2018.
WIMI holographic AR advertising revenue increased by approximately RMB 86.3 million (USD 12.4 million), or 47.6%, from approximately RMB 181.2 million (USD 26.4 million) for the year ended December 31, 2018 to approximately RMB 267.5 million (USD 38.3 million) for the year ended December 31, 2019. The increase was primarily attributable to the increase in the number of advertisers who became WIMI's customers as a result of more referrals from customers who were satisfied with WIMI's services. During the year ended December 31, 2019, the company had 153 customers, as compared to 121 customers during the year ended December 31, 2018. Average revenue per customer was approximately RMB 1.7 million (USD 0.24 million) during the year ended December 31, 2019, as compared to approximately RMB 1.5 million (USD 0.22 million) per customer during the year ended December 31, 2018. The increase in average revenue was due to the improvement in technologies which enabled us to embed more contents in the advertisements. The number of paid impressions through WIMI AR advertising increased by 47.0% from approximately 6.6 billion in 2018 to approximately 9.7 billion in 2019, due to an increase in the number of advertisers. The increase was also due to WIMI's commencement, in May 2019, of advertising on short form mobile streaming platforms, where the company derived approximately 15.5% of WIMI AR advertising revenue in 2019. Prior to May 2019, most of WIMI AR advertising was from more traditional TV and film markets.
Company Name: WiMi
Name: Tim Wong
Tele: +86 10 89913328
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