Gay Star News Update

RNS Number : 9440R

Iconic Labs PLC

01 November 2019

 

1 November 2019

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

Re-Launch of Leading LGBTI Platform Gay Star News

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') via a soft launch. News articles are now being published on the GSN Facebook page and revenue is being generated via display advertising from the Facebook advertising network. A formal relaunch of a redesigned website is planned in the near term, alongside a rebranding of the whole business which will now be known simply as GSN. 

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 c.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.  The Company has received significant interest in branded content partnerships for GSN but the new operational website is a necessary next step to activating these contracts and increasing the platforms revenue potential. 

GSN was acquired by Iconic Labs for £33,000 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 £500,000 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 formal launch as soon as practicable.

Chief Executive Officer, John Quinlan, said: "Since acquiring GSN, we have been working on leveraging the strong position it already holds in its marketplace, as well as our in-house capabilities, to build on the platform's potential and make it a profitable business centre.  We have already successfully soft launched the platform and are generating revenue from the Facebook advertising. Revenue is expected to grow following the launch of GSN's redesigned website and I look forward to updating shareholders as we progress."

**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: [phone]
Damon Heath	Shard Capital Partners LLP	Tel: [phone]
Erik Woolgar	Shard Capital Partners LLP	Tel: [phone]
Juliet Earl	St Brides Partners Limited	Tel: [phone]

 

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