Bangkok--7 May--Gushcloud Thailand
Global digital talent and influencer marketing group Gushcloud International (“Gushcloud”) has announced its strongest ever first quarter despite the COVID-19 outbreak. The company reported over 50% revenue growth during the first quarter of 2020, compared to the same period in 2019.
With 15 offices across 11 countries, and a roster of over 300 exclusive and network of over 30,000 digital talents, the company has been working closely with brands to strategize how to navigate uncertain market conditions.
Within the first quarter of this year, Gushcloud has also signed multiple new talents exclusively, including The Prince Family (United States), Lily Maymac (Australia), Kmoore the Goat (United States), Reomit (South Korea), Jane Chuck (Malaysia), Ying Tze (Malaysia) and Binko Phapfah (Thailand). Having these notable talents on-board has helped further cement Gushcloud’s position as a global leader in the digital talent space.
“When the virus first broke out in January, there was initial fear. Brands and clients sat back and digested the situation before committing their advertising dollars. Towards late February, we saw brand confidence recover as they looked to capitalize on this opportunity to reach consumers who are spending more time on digital content platforms,” said Gushcloud CEO Ms Althea Lim.
Industry insiders are reporting 15 to 30% declines in digital advertising CPM rates (Tubefilter) as well as lowered marketing budgets to control expenditures. Despite mounting market uncertainties, the company attributes its strong performance to both reputation and diversification.
“While digital marketing budgets have decreased, our business is growing as brands and clients are choosing Gushcloud as their digital marketing partner as they believe in our strategy and execution capabilities, as well as our financial stability,” said Gushcloud CFO Mr Andrew Lim.
Additionally, having a stronghold in diversified markets has allowed Gushcloud to be able to withstand the impact of COVID-19 in various territories. It was also able to hold its ground while waiting for the crisis to tide over, as seen in markets like China and Singapore, where the situations have been improving.
Social distancing and isolation measures worldwide is expected to negatively impact out-of-home ad spending, and the outbreak will lead advertisers to spend $20.3 billion less than previously forecast (eMarketer). However, the outbreak has given rise to new digital formats – and opportunities.
Consumers are staying home, and have started turning to utilizing online shopping platforms, and consuming digital entertainment.
While the coronavirus will impact the advertising and marketing industry, it has also driven a shift to e-commerce and live-streaming. In Singapore, Gushcloud has launched live-commerce projects with leading digital talents Nurul Aini (“Life with Nurul Aini”) and Eunice Annabel Lim (“Good Vibes with Eunice Annabel”). Between the two, over S$3,500+ worth of transactions was generated from their pilot episodes, with each session lasting under an hour.
“In China, livestream commerce has been booming in the past 5 years. We expect Southeast Asia to follow suit, where we will witness a spike in live streaming activity in this region. This is why we have decided to invest in livestream commerce infrastructure to unlock this opportunity set with our talent base. We believe this is the next evolution of digital content,” added Mr Lim.