Company Reports Record Annual Revenue While Reducing Net Loss By 14% FY Q1 2024 Expected to Deliver All Time Record Quarterly Revenue TORONTO, MUMBAI and LOS ANGELES, April 29, 2024 /CNW/ - QYOU Media Inc., (TSXV:QYOU) (OTCQB:QYOUF) a company operating in India and the United States producing and distributing content created by social media stars and digital content creators, is reporting financial results for the quarter and year ended December 31, 2023.  Highlights include as follows: The company recorded annual revenue of $27,562,899 representing the highest annual revenue mark in corporate history. This was achieved despite the US WGA writers and SAG actors strike combined with a soft global ad market, resulting in a material adverse effect on overall FY 2023 revenues. The company is now experiencing a material improvement in the results for FY Q1 and FY Q2 2024 due to the strike having concluded and anticipates reporting all time record revenue for Q1 2024. Improved Net Loss: For the year ended December 31, 2023, net loss improved by $1,604,223 or 14% compared to prior year, most significantly driven by stable revenue growth offset by an increase in workforce and other operating expenses associated with building relationships in the social media and direct-to-consumer space. Adjusted EBITDA*: For the three months ended December 31, 2023 compared to same period prior year, Adjusted EBITDA decreased by $2,042,010 most significantly driven by strategic investment in the direct-to-consumer gaming segment, digital channels, digital contents, workforce and relationships in the social media space. Cash Balance: Cash used in operating activities for the three months ended December 31, 2023 was $1,897,153 compared to $1,871,858 in same period prior year. The decrease in cash used in operating activities is primarily due to the increase in collection of trade receivables. The Company concluded the year ended December 31, 2023 with cash of