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Powder Springs, GA, March 30, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Conservative Broadcast Media & Journalism (OTC:CBMJ) reported strong pro forma 2020 revenue growth of 118% year over year.
Revenue for the full year 2020 came in at $2.4M. This is an increase of $1.3M over 2019 Revenue of $1.1M. Net Income for 2020 was $450K compared to 2019 Net Income of $115K. These results match the previous expectations by the company in Q-4 of 2020.
"We are very pleased with the growth in revenue for the company which matched our prior expectations. Our strategy of making strategic acquisitions to build a consistent revenue model along with developing our own social media platform will be key initiatives in 2021," stated CEO Mark Schaftlein.
"With the purchase of Military Grade Coffee in Q-4 of 2020 and the acquisition of J. Vincent Creative Digital Marketing Agency in Q-1 of 2021, along with a few key hires to enhance our customer base and drive our clients’ digital web presence, we are well on track to have solid revenue and earnings growth in 2021," stated President Brandon Vallorani.
CBMJ also announced other notable developments driving growth and strategic opportunities including that the Company’s’ opt in email database, which now exceeds 12M addresses, and that their new private email account platform, Constitution.com, presents significant growth opportunities.
Conservative Broadcast Media & Journalism e-commerce sites Store.FlagandCross.com, www.thrashercoffee.com, MilitaryGradeCoffee.com, and www.valloranicigars.com continue to drive product sales while additional news websites, FlagAndCross.com, LibertyHub.com, and GreatAmericanPolitics.com, are poised to contribute additional ad revenue in 2021.
The Company also confirmed that it has plans this year to increase the distribution of its CEO’s television show “The Schaftlein Report” www.schaftleinreport.com, which focuses on political and economic issues of the day and provides a roster of 30 guest commentators a forum to express their views.
About CBMJ: (CBMJ) Conservative Broadcast Media and Journalism is a Digital Marketing Company based in Metro-Atlanta that specializes in reaching a conservative/libertarian/religious audience. Among other assets, CBMJ operates numerous social media accounts across several platforms with over 2 million followers, owns an active database of over 12 million opt-in email subscribers, and publishes a network of 47 monetized political/news websites generating 10 million page views per month. Some of the marquis sites include www.flagandcross.com , and www.libertyhub.com.The Company also maintains one of the largest collections of historical documents on the web at www.constitution.com . In addition, CBMJ operates a brick-and-mortar coffee shop in Hiram, GA, and e-commerce websites including www.thrashercoffee.com/ , www.valloranicigars.com , and an e-commerce portal at their primary site www.store.flagandcross.com/ . CBMJ now also owns the increasingly popular TV, radio, and social media segment "The Schaftlein Report" hosted by economic analyst and political commentator Mark Schaftlein. https://schaftleinreport.com/
Forward-Looking Statements: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters disclosed at www.otcmarkets.com . These risks and uncertainties could cause the company's actual results to differ materially from those