Subtext achieves a 192% increase in revenue, expands into new industries and geographies
NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Subtext, an award-winning texting platform that connects media companies, brands, artists, and creators to their audiences, showcased strong growth, launched new platform features and demonstrated successful international expansion in 2023. This year, the company’s revenue increased by 192%, accompanied by a surge in subscribers, which rose by 92%. The company has made a lasting impact by offering a high-touch, personalized communication platform, enhanced engagement, diverse monetization opportunities, content control, and more.
Subtext expanded its footprint in the music industry, signing new partnerships with BMG, Sony Music UK, Sony Music Australia, and Atlantic Records UK and launching over 75 SMS campaigns with top artists such as Miley Cyrus, Barbra Streisand, Jelly Roll, and Duran Duran. As artists sought new avenues to directly engage with their most loyal fans, Subtext served as an invaluable resource for deepening the fan experience. Unlike other mediums, artists can use Subtext to interact with fans and gather feedback at scale.
In the media landscape where news organizations have largely relied on social media platforms to foster audience relationships, Subtext offers a transformative solution. By facilitating one-to-one conversations via SMS, Subtext enables journalists and publishers to establish unique and personal connections with their readers and ultimately own that direct line of communication with their audience instead of renting it from social platforms. With media companies recognizing the value of this intimate form of communication, Subtext has solidified its position as a top engagement and monetization platform, partnering with renowned organizations such as Forbes, USA Today, Washington Post, Marketing Brew, CNET, and more. This year, Subtext’s new partnerships with media companies resulted in 300+ SMS campaigns.
Subtext continues to expand platform capabilities aimed at enhancing the SMS experience for customers and their audiences, with added platform features including an enriched API library allowing for complete integration, granular audience segmentation, drip sequences, enhanced reporting, and the ability to natively communicate all types of rich media.
To democratize access, Subtext also continues to expand its global footprint, now supporting various SMS campaigns outside of the U.S. The international expansion provides audiences worldwide with the opportunity to connect with their favorite writers, artists, podcasters, brands, and creators via SMS. This extended reach also amplifies engagement and monetization avenues for Subtext customers and underscores the company's unwavering commitment to nurturing meaningful connections on a global scale.
“2023 has been a watershed year for media organizations, musicians, brands, and creators as they looked beyond the chaos of social media for a more authentic way to connect with audiences,” said Mike Donoghue, co-founder and CEO of Subtext. “Subtext has seen strong growth this year as a pioneering SMS platform and with expanded functionality, like drip sequences, rich audience segmentation, and robust international capabilities we will continue to deliver innovative capabilities that help our customers strengthen connections with their audiences.”
Subtext is an award-winning two-way communication platform that connects publishers, creators, and brands with their audiences through text messaging. By making direct connections with their audience, Subtext customers can communicate one-on-one or at scale. Subtext customers include Sony Music, The Washington Post, BMG, Penguin Random House, USA Today Network, and IRONMAN.