Since they won't do a PR about it, I figure the more posts we do about it, the better!
Steemit,Inc recently released their financials...
https://steemit.com/steemit/@elipowell/steemit-inc-financial-update
Well sort of, they didn't release everything as it pertains to salaries, nor should they.
However, they did release the information surrounding the revenue being generated from the newly implemented advertisements.
And it was a very welcome number.
According to Steemit,Inc the most recent month yielded something close to $100k in revenue.
That is a very nice number. Especially when combined with the dramatic reduction in costs as well.
Check out the revenue vs. costs:
If that were a chart of moving averages it would be very bullish!
A faster moving average crossing over a slower moving average to the uspide, signalling a likely change in trend!
It gets better...
Even better was this nice little quote from their post:
"The only real variable is the advertising revenue. In order to not programmatically sell Steem each month, we need to bring in enough ad dollars to not only cover expenses, but make enough profit to ensure future stability. Obviously the sooner this happens the better so we can slow down the programmatic selling and ultimately stop it altogether. That has always been the plan and like I said, we are working hard every day to make this happen."
Not sure about you, but that was very nice to read!
I think this was the first time I have seen them say they are planning on stopping the selling at some point...
As an investor, that is exactly what I want to hear!
What's more, they also said they think they can continue to tweak some things and bump up that ad revenue even more.
Plus imagine if were to get some more traffic flowing through steemit.com, those numbers will keep going up and up.
How to really juice things...
What would really get things cooking is if steemit,inc made an announcement something along the lines of...
"As we continue to generate more and more revenue we anticipate in the very near future that we will be able to start paying out a portion of that revenue to qualified bloggers"
A statement like that would really get this place cooking!
It would also likely help the price of steem reverse it's current price trajectory, especially if that announcement was combined with a stop in the continued steem selling...
Stay informed my friends.
-Doc
They could also just buy Steem from the market and destroy @null !
This will help everyone!
Yes they could. That would be my second choice.
I hope this revenue dependency drives steemit in the direction where the focus is on the blogger and users and not on the wannabe stakeholders gaming the system. Organic views and klicks are the gold of the internet.
I agree. I think now that they see that ads are going to be their meal-ticket, they hopefully do things to get more users here, which should also help the price of steem go up.
Revenue cures everything.
Yes it does. Now we just need them to keep increasing that and stop selling so much dang steem!
I would say buy back Steem from the profit similar to binance token rather than sharing profit with bloggers. If Steem price goes up, bloggers will earn bigger paycheck automatically. Moreover, bloggers now have more options to earn: @palnet, @steemleo, @sportshub and list can go on. There are still 8.5% inflation which needs to be consumed by new investors, old stakers and projects. Steem is struggling due to low demand and high supply.
That would be my second choice. Though I think attracting more and better influencers here will likely yield more returns than just burning some steem. They likely attract readers/consumers which could really boost the numbers here which helps everything. Additional revenue streams outside of upvotes on steemit are needed for that to happen. Imagine if the steem upvotes were more like tips for the popular bloggers...
Wish my account would generate serious revenues 💰🤗💰
You and me both... I miss those days!
They really made it possible damn looking at the charts its so impressive
Yes it is. Now just keep that revenue at that level or higher and we are business.
That is definitely a positive outlook.
We have a lot of good things going on recently, though I am not a fan of the EIP.
that's awesome, too bad they couldn't also give view count information?
Yes, I wish they would bring that back for posts as well.
even if it were just an estimate lol😄
I'd take it! Better than what we have now... which is nothing.
That's awesome, too bad
They couldn't also give view
Count information?
- doitvoluntarily
I'm a bot. I detect haiku.
Nice Outlook and i hope that i see a turnaround in my trading charts.
You and me both. It's gone down for far too long here...
I was going to make a post to this effect but I'm glad you did instead.
That graph is super duper mega bullish and no one seems to care.
And if they can keep fine tuning and increasing that revenue, while continuing to keep costs low, there is no reason for them to keep selling steem, which should help the price of steem bounce a little.
Then if they can get more users on the site, those revenue numbers could really ramp up and then they would have enough revenue for all kinds of options.
Like paying some out to bloggers, advertising budgets, buying back steem etc...
All kinds of fun things :)
This is amazing news.
Gave me some hope that this place will get better again.
Yep, same here. Hopefully they can keep increasing revenue so that they can turn this into something after all!
I bought some more steem on this news when I read it. Can only be good for the price of steem.
I would think so as well. I wish they would put out a PR about it. Not many crypto projects are generating meaningful revenue, let alone are cash flow positive.
I think it also shows the sustainability of the protocol and the improvement in decentralizing the ecosystem further as time goes in order to no longer rely on them as they will eventually lose their control of Steem whether it be through selling or inflation.
Yes, but for the time being we are pretty dependent on them to add serious value to this ecosystem. No one else has anywhere near the kind of resources they do.
Are apps like palnet going to affect the revenue? Seems like they would.
Posted using Partiko iOS
I would think so. If these apps create demand for steem then the price of steem goes up and it likely drives more users to the platform which increases advertising revenue.
Steem Ads to the moon and beyond!
Now we just need the price to start responding...
The AWS isn't all of their expenses though so it is still not clear if they are in the green yet. Most likely not yet, but hopefully they will be in the coming months
With only 5 employees, they should be close with $100k a month...
Not sure if 45k is enough
For salaries?
This is great news. I visit the Ads as often as possible.
Good deal. I imagine every click helps!
They could be earning $1 Million per month if they get their Youtube Subscribers way up and monetize their account. https://www.youtube.com/channel/UCszdL-p-oxFW9xQyXT9mkWw
Send this info to them?
I did.... many many times already.
Dang. I was hoping you weren't going to say that... keep trying? You know what they say about the squeaky wheel...
Yeah....I post this idea on all the Steemit.com blog posts etc .. CEO, everyone.... even on their Youtube comments... they don’t listen.
Dang, well keep it up. At some point it may pay off.
Thanks.