SRAX Inc. Exclusive Platforms Reaching Maturity, Offering Crucial Services, Generating Recurring Revenue
SRAX Inc. announces the broadcast of its exclusive audio interview with NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) solution that delivers clients unparalleled visibility, recognition and brand awareness in the investment community.
SRAX CEO Chris Miglino joins NNW’s Stuart Smith to discuss milestone achievements for SRAX in 2019 and how the company has strategically positioned itself for a strong 2020.
“Last year was a big year for us as far as getting our BIGtoken product out to market and getting new products out to market in general,” Miglino said. “Both BIGtoken and our SRAX IR products came to a maturity of being able to start generating revenue this year, so we were excited about that going forward.”
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SRAX also started generating consistent revenue from its BIGtoken offering and sold campaigns to big brands like Proctor & Gamble, Kraft, Sun-Maid and others. These achievements are paving the way for a powerful year ahead.
“We have some amazing plans in 2020 about what we’re going to be launching on the platform. 2019 for us was the year to tee up all the platforms and the technology to start generating revenue, and 2020 is where we’re going to start to see both BIGtoken and SRAX IR start to contribute to the top line for the company,” Miglino said.
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Of particular note is the fact that California’s consumer privacy act went into effect on Jan. 1. “We’re very lucky to be positioned right now to be able to capitalize on that,” said Migloni, who explained that the law restricted companies from marketing to any consumers who hadn’t opted-in to receive that marketing. California is the first of 13 states that have such laws in place, and Miglino observed that all states are certain to follow suit. SRAX’s BIGtoken platform has been requiring that opt-in from its users since the beginning, making it an attractive partner for companies looking to market to consumers.
In fact, SRAX just announced this month a partnership with Experian to bring financial services to BIGtoken users. “We think it will be a big revenue generator for us this year — and for them,” Miglino noted. “We’re excited about that partnership, one of many new partnerships that we’ll be bringing to the table for the BIGtoken platform as we enter 2020.”
“Ultimately consumers are going to be able to own and control their data, no matter where they are,” he continued. “[That data] is a commodity that will be recognized and have value to the consumers. . . We’re creating that environment where the consumer can be marketed to and receive the benefit for opting into that process.”
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