RUM Group Inc. (RUM) Earnings Call Transcript & Summary

Hello. Hello. Hello. We are here from Florida with the Rumble Q2 Earnings Recap and a little bit of a forward-look of where maybe things are going to be trending in the world of free speech on the Internet. It's a pleasure to be here. Let me be one of the first people to congratulate you for not only a record-breaking quarter in terms of revenue, but then also Minutes Watched Per Month. How are you feeling right now?

I'm feeling great. I guess, like the takeaway for me on this one is that everyone has been saying that you can't monetize Conservatives and you can't monetize the audiences of Rumble and we kind of are starting to prove them all wrong. So like for me, it's a huge accomplishment of what we did in the last quarter. I'm super pumped. So Matt, thanks for coming to Rumble again.

Always appreciate to be here. Truly, it's a privilege. On that exact note, one of the things that really stuck with me during the earnings call was when it gets back into the political cycle and that viewership really trends back on to your platform of what's going to be going on in terms of revenue. If you're at $25 million now, once again, record-breaking, what's going to go on in 2024, which you've now multiple times referred to as your Super Bowl year?

Yes. So, I think it's going to really be dictated by how much progress we make and how well we execute on RAC. So, one of the things I outlined in the earnings call is that a lot of this revenue that you're seeing right now of this $25 million is coming from the manual management of creators and we even said like less than 50 creators. So, the way I look at it is like when you launch RAC and every creator can participate in RAC, both on a programmatic perspective and a sponsorship perspective, when every creator can do that, that's when you get real scale, that's when you start to see real revenue and that's when I think the inflection point of this business will happen is when we can get rack up and running and ready for everyone. All creators.

Talking about scale and revenue, I heard this on the earnings call, you were talking a little bit about like Big Tech, and you referred a little bit to the cloud infrastructure of Amazon, Google, Microsoft. And then also, you talked a bit about Meta. And I don't know if you just didn't have enough time on the call. So, let's dive into that. Because for me on this side and when I look at the Internet and the discussion surrounding Rumble, it's a lot of comparison of where everything is right now, but I don't know if that's exactly fair because, obviously, Rumble started later, it's on a different growth trajectory. So, what was the point in bringing that up? And can you give us some insights?

Yes. So, I think like when you compare Rumble and you compare like Meta, Facebook, as what they were called back then, I think that's like a -- it's something that everyone should kind of look at, because I think people forget how much people -- like how much Facebook spent in 2007 and how well they did in 2005 and 2006. Like I don't know if I remember correctly off the top of my head, but we do have the chat, I'm going to put the chat up on my phone. So, like if the that can find out certain numbers. But like I believe Facebook did in 2005, $9 million in revenue and in 2006, they did about [ $45-ish million ] in revenue. Rumble did $9 million of revenue in 2021 and $39 million in 2022. So, you can kind of see the parallel there on the revenue side. And then on the flip side is like how many users did Facebook have in 2005 and 2006. Chat, you can go look, but I think it was like 50 million in 2007 and around 20 million in 2006 and YouTube was around 20 million in 2006 MAUs. So, when you look at these companies, these massive, massive, massive companies out there and then you look at what Rumble is doing, and we didn't raise tens of billions of dollars. I'm not sure exactly how much Facebook raised over the course of their business, but we raised like $400 million with our SPAC and less than $500 million in total in the lifespan of our business. So -- and I do not see the need to raise billions -- tens of billions of dollars like other companies. We're going to do it in a completely different way. So, I see that as like a major advantage to Rumble like on how we did it and how we are doing it. And then if you also look back to Facebook and their market caps in 2007, et cetera, there's a very big difference. And I think that difference is important to note, especially in this time. This is not adjusted for inflation or anything. But I think that's like a very important note because like Rumble is doing something that many companies haven't done. And we are really tracking in a way when you look at 2005 and 2006, obviously, we didn't do as much as they did in 2006. I think they did $45 million, we did $39 million, but we're doing pretty good.

On that note, just speaking of origin story and whatnot, I don't think I've ever asked you, how did you come up with the name Rumble?

That's a good question. I got it as a 30th birthday gift from a friend that said, go up and compete against YouTube. You're going to kick their ass and he gave it to me for free as a 30th birthday gift, a good friend that I grew up with.

I like that though, almost like the ethos of the company. Like Rumble, like the fighting mantra that I never knew that -- is that like a commonly told story or...

It's out there. It's something I've told before, but I wouldn't say it's commonly known. But yes, that's the story. I got the domain name back on my 30th birthday. I woke up one morning and he's like, here is the code and I've transferred it to you and I'm like wholly s, like that's a pretty expensive domain name. That was the gift of my life that I've received. I guess, I was shocked and he's like, you need a good name to go and take on the big guys and this is why we're Rumble.

Well, I don't want to age you or anything, but in the past decade now, there's no way you could have envisioned that everything has gone the way it has now. Truly a leading voice and company fighting big tech, which obviously, you're on public record saying multiple times. You have clear grievances with.

Yes. And by the way, chat, I'm actually looking at the chat, so I'm not doing things on my phone, just trying to keep an eye on the chat. I think the chat is one of the more unique things to Rumble. So, I love it. But yes, no, it was -- I've always wanted to go against them. I've always -- were -- I was -- I always felt like YouTube treated creators unfairly. I felt like it treated and it progressively did as time went on. And here are now leading the charge against one of the largest companies in the world. And I'm thinking we're doing a pretty good job so far and I can't wait till 2024. Like 2024, if we execute on RAC and with the audiences that we've picked up more recently, we've done a really good job in the 18 to 24 demo and the audiences that will come back as the election cycle starts to ramp up, I think you can -- 2024 set up to be a phenomenal year. I cannot wait for it. I think we can surprise people. And then on the flip side, there's cloud, which is like a massive opportunity for us as well. I think that coupling Rumble and cloud for 2024 and the launch of RAC is really the culmination of what everyone has been waiting for. And what you've kind of seen this year is like just kind of like the resilience of the core base audience. We have 44 million Monthly Active Users and growth in these younger demos as politics kind of takes a backseat for a while. I think like going into the next 12 months to next 1 to 2 years is going to be a real awesome time to see those 2 audiences compound and grow together.

I'm happy you brought that up. And I guess to take one quick step back. Obviously, Rumble trading under the ticker symbol RUM, it's in the battle arena that is Wall Street. But it seems like you and the company and everyone who supports the company, it's a lot more for the "average show". Like you're doing this for the average person to be able to have some modicum of free speech. On that note, I kind of want to bring up a viral moment. And while I'm doing this, folks, we want to make this one a little bit more retail-centric because this is what it's all for. So, if you have your questions, please ask away. And while we're doing that, Chris, I'd love to pick your brain on the recent viral phenomena we have Oliver Anthony, who I was reading like topped the Billboard Charts and out of nowhere, and once again, please correct me if I'm wrong, I believe just signed up for Rumble and decided to host his content on your platform. What does this mean for you? What do you think about the viral phenomena? Like it is kind of a crazy thing that occurred over the past, what 72 hours?

Yes. No, it's -- that's so true. He came -- I woke up and someone told me he's now on Rumble. But that's exactly what we're trying to do. Right? Like we've added all these -- this new talent to the platform. We're really trying to create a lot of brand awareness that Rumble is a choice for anyone out there. And we don't need to go and sign everybody. People are going to -- these -- as we do all these signings, it will be first in mind to go and join. And we saw Oliver Anthony join Rumble and over the weekend. And I think that's an incredible feat for us to have someone that's growing that fast, to pick to go to Rumble right away. It just shows that what we're doing is working. We're attracting talent and the entire Rumble business model is bring them in on his own without us doing the active effort to go bring them in.

That's a perfect point. So, the business model itself is bringing creators in and a little bit ago, you alluded to like they're going to benefit off of RAC, RAC. What is that for a person who maybe this is their first time hearing about Rumble and your monetization method?

Yes. So, think of like -- you have Google AdSense. AdSense serviced YouTube, you'd connect your YouTube account to AdSense and you'd monetize YouTube. AdSense also service publishers where publishers could go and monetize their websites. RAC is going to be identical to that. RAC will be the engine that's going to service Rumble for advertising dollars for creators. And RAC is also going to be an engine for all publishers to come in and bring in their websites and use the demand within RAC to monetize their websites. And we already have Truth Social that are testing that publisher aspect of it. And there'll be a lot of news on the publisher side in terms of how we're going to start opening that up very soon to everybody else. And then in addition to RAC, we added something that AdSense doesn't have nor does Google Ad Exchange. We're adding the greater sponsorship marketplace where you, as a creator can now list your show and advertisers can come and buy spots within your show. So, we're not talking just programmatic pre-rolls and video ads, but we're talking about real sponsorship with brands with direct response that want to go into your show. I know -- you have your own show and you have advertisers and there really isn't a true marketplace for allowing advertisers find your show, you kind of have to do it on your own or they have to find you. We want to create a true marketplace that automates that whole process for the creator and for the advertiser. And I think -- and that essentially is what's driving our revenue in the last quarter. And I think that's going to be a major part of our revenue in the future quarters, especially when we go from like less than 50 to thousands overnight that go into that program. Like, you as a creator, why wouldn't you list your show in there? And the beauty of RAC in the creative sponsorship marketplace is it will be agnostic. So, let's say, you have a show and it's -- you don't want to use Rumble, you want to use another platform, you're signed to another platform, you can still use RAC to monetize your show wherever it may be. And obviously, we want you on Rumble, but we feel like having a very agnostic platform and exposing people to the Rumble brand is a good win for us overall.

So, on that particular note, I know you like can't give us the exact timeline because there is quite a bit of a technical feat that has to be figured out here. But what's a rough timeline as much as you can give us on both that because that was one of the major things you dove into on the call, but also Rumble Cloud, it seems like to be the other aspect of business that you really dove into?

Yes. So back, I think we were anticipating the cloud to launch in 2023. And then I believe, like a year-ago when I was on Maria's show, we said late 2023 is when we -- more precise time for when we're going to be relaunching the cloud. I can tell you that we are very far along on that process right now. And we're -- I believe we're going to beat those expectations of being late 2023 and get something out sooner here in the very near future and launching that beta cloud is very near. It's around the corner. So that is like super exciting. We've obviously had some very big clients -- a very big client using our cloud for a very long time. I think they started using it back in 2021, Truth Social, that's been testing and using our cloud product for a very long time now. And we were really excited to opening that up to many more and we're looking to do that very soon.

I listened to many, many earnings calls and one of the analyst questions you got today was about AI and AI integration. And I have to tell you, it seems like the trick to Wall Street right now, as you mentioned it and your stock just goes up. The one that I didn't hear about is a little bit more of crypto-related and maybe that fat has come, maybe still growing. Is there any plans of crypto or maybe bitcoin specific integration with Rumble? Are you looking at crypto in any manner?

It's -- it hasn't been on the forefront right now for us in terms of -- like our core focus right now is to launch the cloud and launch RAC. Those are the 2 things that, that we need to do. And that's in addition to like improving the Rumble product. We're going to actually come out with -- there's a tweet right now out that we just recently put out of all the product improvements we made on Rumble itself. And we're going to be coming up with a really large update, hopefully, by the end of this week, where the entire video page is going to be redesigned. If it's not this week, it will be just shortly after the debate. But hopefully, this week. So, improving the product to improve engagement, which we saw happen, engagement soared in the last quarter, and this is like in large part due to major product improvements and design improvements and we're going to continue to do that because the benefits there are huge. Getting RAC out, out of the door out of beta into full-scale launch on the programmatic side, talking to Rumble and having ads in the app in OTT as well, huge -- like huge focus for us and then getting RAC to support the creator sponsorship marketplace for all creators. That is also a major priority for us. And then finally, the cloud. So, those are the items that we're really, really kind of digging our heels deep into right now and really want to get out the door as soon as possible because that's going to reflect like revenue growth, profitability in the future. It's going to allow us to really kind of predict things and really set the tone for Rumble going forward. Like we have the audience. We know the audience is monetizable now. We've proven that. Everyone that was saying that you can't monetize Conservatives, bulls, it's total bulls, Conservatives monetize very well, if not better than other groups that I've seen. So that's out the door. We've proven that. And now we just need to automate it and scale it. That's what we need to do. So, I love the crypto world. And if there's a demand from our audience, we'll deliver it. Like if our audience goes out there and says, we want to be paid in crypto and it's persistent and people -- it's widespread, we're going to fulfill that need. Like that's what we -- I think we do amazing at Rumble, is like our team here is really, really listening to the community and really delivering to the community what they want. So, if that's what they want, that's what we'll deliver. At this point, I don't see too much demand on the AI or too much demand on the crypto side. Although, I do see some really like -- I do see some demand on the cloud side when it comes to AI in respect to people looking for cloud -- GPU cloud and looking for different infrastructure services to support AI. So, I have seen a little bit of that. But for the most part, we're going to do what the community is asking for and we're going to follow our community. I think that's how you win. It's how we're winning and it's all about listening to the community.

So on that note, do you have plans to build out the community even more? And what I specifically mean by that is right now, there's a lot of Conservatives that pay attention to your website, they pay attention to what's going on. Do you have plans of duplicating that on the left side of the aisle? Like is your goal to be a place of free speech like almost agnostic of what political ideology you have?

We have Robert F. Kennedy Jr. that joined the platform. So absolutely, like we're completely neutral. We -- it doesn't matter where you are in the aisle or what political leaning you may have, I could care less. I want to service everyone and I want a free and fair platform for everyone. I think that's what we're missing in this world and that's the gap that we're filling. And like you're even seeing it. Like -- you're seeing like YouTube start imitating what Rumble is doing. I think they're reversing their policies on what they deployed a couple of years ago. Why are they reversing those policies? Like why are they bringing themselves closer to Rumble all of a sudden. I think they feel it. I think that most people out there and seeing it, we're not having trouble attracting talent. As you can see, we've been able to bring on the 2 biggest guys on their respective platforms like if not the biggest on their respective platforms, there might be someone bigger. But one of the top guys on each respective platform, Twitch and YouTube decided to come to Rumble. So, we're not having any resistance on the front of attracting people and we're open to everyone and we want to service everyone, like that's where we want to be.

I even heard you got the top finance show. So, you have a point there. I don't want to go too far in that political route, but I heard on the call that you're actually involved with the primary debates coming up in a week or 2 here for the Republicans. How does that even come about? Like how does -- people accuse Rumble of not being known and whatever, but then yet you pull this off. So obviously, you're doing something right. How does that even come about?

Yes. I think Rumble is so underrated in so many ways. The -- getting the debate, obviously, there was a process of trying to do that. We saw this as like a great opportunity for the brand to get to a larger audience out there. And yes, we'll have the first and the second Republican Primary Debate. First one being on August 23. I think that's probably one of the larger milestones for us as a company as a single event that we've accomplished. And it just shows you that the appetite out there is not just for YouTube anymore. Like Rumble is part of that conversation. And I think that's a big thing. Like we're part of that conversation where we are today. And we will be -- and I think we will be in a much bigger way in 2024.

Well, on that note. So with growth, how do you, as the Founder and the CEO and the Chairman of this company envision, obviously, you're making record revenue, but you're also spending more money. So, what's your mindset on balancing that out as the quarters and the months pass?

Yes. So, our spending is discretionary. We don't have to make these signings if we didn't want to. We're making these signings because we wanted to diversify our content portfolio. We wanted to attract new users and we want to grow. And when you compound what we've done in the last 2 quarters and what's going to happen in 2024 with the Presidential Elections, I believe Rumble is in a new realm in the United States. So obviously, our focus is in the U.S.A. at this point. Like today, I tweeted about the fact that 8 of the top 20 live streams at around 11:15 a.m. are on Rumble. YouTube had 7 or I think Twitch had 7, I'm not sure you -- but we had the most. That's massive, like and this is in the United States. This isn't happening in another jurisdiction. This is happening in the most monetizable nation on Earth. This is like -- that's a pretty big fact. And you know it's not to be overlooked, and when you take that and you take what's going to happen in 2024 and late 2023, as this election cycle ramps up and you take all the pieces that we put together in the last 6 months with bringing on Kai 'N Speed, Academics, Jin, the digital sports leagues, all this culminating in 2024 in compounding on top of each other. I'm so excited about 2024. I don't think people quite see the pieces that we're putting together and how we're putting them together. Like we're in an off-election year right now, the quietest time there is. When it comes to an election period cycle, like you can see how CNN and Fox, when the midterms go, like what are their drops in audiences. I think I've seen like significant drops in their audiences. And like we're -- in Q2, we're holding relatively steady. We did see a drop as well in Q2 with the older audiences, but we saw an uptick in the younger audiences. And that counterbalance is great. And we don't see that the younger audiences going down anytime soon. Kai 'N Speed are not leaving like we're -- the digital sports leagues are not going anywhere anytime soon. So, we see this compounding as we go forward. And that's what really excites me.

That's the one thing that really jumped out to me. So, if you go back really far in this cycle, particularly the political cycle, there was that older audience that your viewership was massive. That's now waned a bit. But then you have the younger audience that's actually starting to like pop up. So, it seems like in 2024, once again, you're calling it your Super Bowl year, that's where the -- almost like the 2 waves come together. They're going to be overlapping with each other. And obviously, it seems like you have good reason to be excited about that and with the growth. And obviously, there's going to be an organic aspect that causes it to get bigger. But for people who support you directly, like, let's talk about the retail audience, what are some of the major things that you're seeing that are kind of getting Rumble's name out there even more? Are you seeing it be like an Internet Twitter thing? Or are videos being shared? Like what's a major way where like the supporter support the company?

Yes, you're seeing like I would say like the biggest strategy around marketing for us, like our marketing strategy is bringing on big influencers. Now, I do not see the need of being as aggressive as we have been in the last 6 months to be as aggressive in the next 6 months or the next year. I think we can achieve a lot without doing that. Now that doesn't mean that we're not going to be opportunistic about it. Like if a big name comes knocking on our door that we think is a real good business opportunity, we're going to take it. Like we have the ability to take it, we're going to take it. We're not going to stop. But I don't think we're going to be as aggressive as -- it's going to be nearly as aggressive as it was in the last 6 months on the spending for this new talent and new creators. And Mike, how many more big people can we get? Like we got Kai 'N Speed and we got these huge sports leagues now. It's -- we're kind of hitting that upper limit of how far we can go with that. So, our bringing in of influencers is one of our major ways of marketing the platform, getting people aware of Rumble. And then obviously, when you have that engine firing, when you have Kai 'N Speed yelling from the top of the hill saying go to Rumble, download the Rumble app and live -- going live. And then you have the Republican Primary Debate going live at the same time at Rumble and you have the elections going on and you've got Trump rallies going on, you start to -- you start to see like all the awareness happening from all the influences. The marketing strategy is the influencers on the platform. It's you that's promoting your channel on Rumble and bringing your audience to Rumble. That's what's getting it out there. And when you look at like, you look at X or you look at TikTok, like for us, we don't see them at all as like competition to us. The way we envision X and we envision TikTok and the way it has actually played out for us is that all the great talent that's on Rumble, whether it's Russell Brand or it's Speed or it's Crowder, all those clips end up on TikTok, and they end up on X and they end up going viral on those platforms as these short clips. And then those -- that ends up driving more downloads to our app and more users to our app to watch the full shows. So, the way I look at TikTok and the way I look at X is that they're non-intention-based apps, they're discovery apps. You're going there. You don't know what you're going to see and what you're going to get, but you're going to find great things and it's going to lead you to great places. And one of those great places it's going to lead you to is Rumble. At Rumble, we're very intention-based. Everyone that's coming to our stream, not everyone, but like a lot of people that are coming to our stream are coming to listen to me and you and they knew we're going to be there at this time. It's very intention-based. It's not based on discovery. It's based on the fact that you know you want to watch Dan Bongino at 11 a.m. or you want to watch Crowder at 10 a.m. So, it's very intention-based. I don't really see these 2 platforms -- like Rumble or X and TikTok, they don't compete in any way. They're, in my mind, very complementary and they help drive -- they help drive a lot. They're not the main drivers to Rumble, but like they're definitely -- they help.

To tie that together a little bit. Whenever we do these and I put out an X thread or whatever it's called now, one of the most common questions is always, is there any update on the king of content, Joe Rogan himself. I know you can't specialty announce it or anything like that. But like, I guess, maybe a better question is, what would that do to the competitive landscape? Or is there anything you could tell us there?

I don't have anything to tell you with respect to Joe Rogan. But I think, Joe, is -- it will be very interesting to see what Spotify does and how Spotify goes about it. He's obviously exclusive to Spotify. And I think Joe is a very loyal person to just generally just based on what I can tell. And whatever he chooses to do, I'm happy for what he does -- what he'll do. But I can tell you, like the door is open to Joe. The door is open to Tucker Carlson. We would love to have both of them. I think both of them are massive in their own right and I think Rumble would be the greatest home for both of them. And the door is open to both of them. Where they decide -- whatever they decide to do, I'll support, but I would really, really I'm going to be biased. I would really love them to come over here.

I mean definitely interesting times ahead, because both of them have mentioned Rumble multiple times, it's not like -- like you're obviously on the radar, so it will be interesting to see how things play out when I guess when the time is due and I'm sure even beyond that, obviously there's many other creators. Like it's always in flux. So, to see quarter-over-quarter, year-over-year, as your fame as a company is getting higher and more and more are knowing about you, because you're being discovered, I'm sure when we are sitting here a year from now, it will just probably be a wildly different situation.

Yes. Hopefully, we get one, if not both of those guys a year from now, that would be great.

On -- so beyond just like the content creators themselves. So, we've talked about RAC. We've talked about what's going on in the cloud. So, all 3 of those things considered, is there a particular thing that you're excited about that you feel like just no one's asking you? Like how is known whether it's on Wall Street, retail, maybe even your own company, maybe your own family, I don't know? Is there a thing that you like do someone need to ask me this?

No. I think like I hit on it today in the earnings call and we hit on it a little earlier. I just like -- I was blown -- I didn't know, but I was blown away when I saw what YouTube did in 2006 when they sold to Google in terms of MAUs. And then equally blown away, if not even more when I saw like what Meta was doing when they had $15 billion valuation in 2007, when Microsoft I think -- I think it was Microsoft that invested in them and I saw their revenues and I saw their MAUs, I saw their spend and I was just like s, I'm like, we are doing okay, like things are pretty good over at Rumble. And I think like that was a real big eye-opener and that's not adjusted for inflation, but I thought that was like a real eye-opener. Like we're doing something very significant. And sometimes, I think that gets a little overlooked, if not a lot overlooked. We've built a huge audience in the last couple of years. And obviously, a lot of it is stemming from politics and political content. But nevertheless, a huge audience. And that audience is very monetizable. And now we're starting to prove that it's monetizable. I think that's like one of the biggest achievements like everyone, everyone I know was saying, how are you going to ever monetize Conservatives and monetize the audience on Rumble. And like I think our Q2 report and even the previous subsequent reports prior to that, are showing that that's just bulls, like that's -- they want you to think that, but is not true. Like audiences are monetizable regardless. And Rumble is proving that. And the best part is, like this is with less than 50 creators. Like think about the real estate that's open and the real -- like we're not monetizing programmatically in our app with video commercials. We're not doing it. We're not doing it on OTT, like there's so much real estate open and we haven't even tapped that. There's so much untapped right now and it's -- I think that's like the perspective where we are when Big Tech was where we were, the perspective of like what we've accomplished up until this date and being able to start monetizing the audience that we do have on Rumble. I think they're all very overlooked.

Could you give us an idea of -- it seems like you started out in a political arena and then you also now have some of the most famous streamers, even outside of the political arena. Where in your timeline is it of just like almost like how-to videos. Like [indiscernible] or do a search like. If I'm like, how do I make a peanut butter and jelly sandwich. How do I -- where is that in the timeline?

So, like, I think that's like a big gap that no one is filling. And Rumble is not doing a great job at filling that in the sense, our search needs like a lot of work. Although, it has gone a little bit better and we've been getting little less complaints, but nevertheless it still needs to be a lot better. The -- I think if we like improve search, which is one of our top priorities by the way, once we get this new design rolled out that everyone has been kind of waiting for and we're all really excited about, search is like going right up to the top of the list. So, I'll just kind of go over that, like what our priorities are right now on the product side. New design roll out, like a massive new design roll out. Samsung app, the latency on streaming and Steam API key. All of those are imminent right now. All of those could happen at any point in time. All those can get rolled out. So once -- not once that's done, but like right after that and once those are rolled out, which those are imminent, the #1 priority in this company is getting search to a much better place and having people be able to discover those VODs that you're talking about and ingesting more of those in VODs through our apps and through the web. So that -- no one's really tackling that except YouTube. And obviously, we are, but our search is just not up to the standard it needs to be, but that is definitely one of our top priorities.

In that list right there in the last call, we were talking a little bit about CallIn, the company that you guys -- where is that in the integration?

So, CallIn is a -- that's also moving much faster than expected. So, what we're doing with CallIn is we're turning it into the Rumble Studio, where creator like you can agnostically stream to multi-different platforms and it will be not only -- it will basically be the app for a creator. It will be the studio of Rumble, and that is looking like the launch of that will happen before the end of the year for sure, if not much sooner.

That's awesome. That's a great update. The one update right there and we could practically hear the applause from some of our content creator viewers when you were talking about the Steam API key. I'm sure there's many -- like the viewers that might not mean a lot, but to the creators, I practically could hear the applause across America right now. So that's going to be exciting news. On this note of where you are right now and where you see things going, you had an interesting note in your earnings report of you're happy with this previous quarter, but you're most excited about the trajectory. And really, I think this whole conversation has kind of exemplified that really. Like yes, you're very happy with this, but it seems like getting into 2024 and then all of 2024 is when almost -- and please correct me if I'm wrong, that the pieces are finally like really coming together for the company.

Yes. I think like 2023 and in the subsequent quarters in 2023, we're building still. Like you're not going to -- you don't have RAC that's going to scale to thousands until RAC is ready to scale to the thousands. So -- and we're all kind of -- 2023 is a building year. 2024 is the year that we're going to see the fruits of the building. And that's kind of the way we're positioning it right now and that's kind of our goal. So, getting RAC ready for 2024 to tap into that, all those audiences from 18 to 24 to the 55 to 64, we want to be able to monetize everything across the board. So, monetization is going to be a huge, huge thing for 2024. But 2023 is a product building year, getting the Rumble video product perfect or as close to perfect as possible, getting cloud up and running, getting RAC up and running, getting all those pieces up and running so that 2024 can be the Super Bowl that I want it to be and the Super Bowl that I think it will be.

What a perfect way to kind of put -- pinning this. I appreciate your time. But before we wrap up, if there's anything else you want to say, but I just want to say I appreciate your time, and I'm excited to see how things go out in the next quarter and just everything that could be shipped and delivered.

Yes. So chat, any other questions, I guess we'll leave it to the chat. I always like to -- okay, we have a Rumble Rant that just came in. Chris, in addition to search enhancement, is there any headway as far as being able to moderate chat via the app? Good question. So, the moderation on -- within the app is not something that is going to be imminent in terms of a product feature. And I don't know where that is on the road map. But because you asked the question, I'll definitely be asking Rick on the other side of the wall over here about that. So, I don't have the answer to that unfortunately, but definitely something that we will bring eventually. The question is when, hopefully, sooner than later.

Phenomenal.

And then another question came in, another Rant from [ Clubfoot Bill ]. Concerning the recent news of Bill C-18 in Canada, what are your views on seamlessly exponential grow of censorship in Canada, along with a similar growth elsewhere in the world?

It's a good question.

That's a great question. The Canadian -- the Canada question is like a tough one. Like it's like you don't want to say anything bad about Canada because I was born and raised there and there's like an amazing crew of Canadians that like really, really care about free speech, they care about freedom. You saw it in the trucker protests like people care, like there's some real -- there's a real contingent of caring Canadians. But what you're seeing in Canada is nothing I could have imagined growing up in Canada. As an American, like as Americans, Canadians were the same way. We grew up in the school yard. We used to say all kinds of s*** in the schoolyard, you would -- and you'd always say it's a free country. It's a free place. I can say whatever I want. That was Canada. I'm sure that's the same in the United States, even more so probably. But now it's not like that anymore. Those values are -- don't see -- they pretend those are their values. They pretend they care about their bill of rights, but it's not shown in the bills that are being passed. And there are some politicians that are fighting for it to a certain extent, but it's not good enough. And you're seeing Canada go into a place where never imagined it would happen and for a very, very -- that's a very big reason why we're in Sarasota and we're in Florida right now is, unfortunately, you can't really trust where Canada is going to go. Hopefully, things will change. And I'm hopeful, and I'll do whatever I can to help the change. But it's pretty sad. It's embarrassing and I hate to say it as a Canadian, it s. But hopefully, it changes and I'm hopeful that something will change and leadership might change and hopefully, they'll change those before it gets any worse.

Depending on which way it trends or doesn't trend could actually impact Rumble's services being there or not? Is that like a real thing? I know it has in France.

Well, Facebook just eliminated the news feed for news. They already openly said it. So, like even the Big Tech companies are like kind of like screaming that this is too authoritarian for them. So, when they're screaming like, holly s, you got a problem like a major problem. So yes, like I don't see it getting that bad but like I don't want to predict anything in Canada because I would never have predicted we'd be where we are right now. But we'll see and we'll do the best we possibly can. So, we have another $10 Rant from StoryTrading. Hi Chris, Ben from StoryTrading. Can you comment on how long your cash will last before you might need a capital raise? Ben, so, we don't need to raise -- we're like fully funded right now. And I don't believe we -- at this point right now, there's any need to raise any more capital for what we need to do. We -- all the spending that we're doing is discretionary right now. It's to diversify our content. I don't believe that we're going to be -- what we've done in the last 6 months with the digital sports leagues, bringing all on these top influencers, we are very aggressive. We're not going to need to be as aggressive. We've attracted those audiences now. We had the growth in the 18 to 24 demographic in the last quarter. And those -- that audience will now compound with the political audiences that we'll have over the next year. So, I don't see the need to be as aggressive on the spending there and we're fully funded. Like I do not see the need to raise capital at this point. And I think we're going to be in a very good spot in the coming years with what we're doing. You have a lot of Rants coming in right now. I don't know if you're going to be able to get to them all, but they're like flying in all of a sudden. Chris, is Rumble looking at investing in the small creators? We'd love to chat more. This is $5 Rant from Uncle Podger. Yes. So, like that's the whole point of RAC. The whole point of RAC is to create an ecosystem and an economy for every creator, not just a large creator. Because like what we're noticing with the large creators is they attract a lot of the sponsorships and they are -- because it's a manual job and you have an account manager placing an ad with a creator and then they have to read the ad and you have to audit it, you have to check it and you have to do all these little processes, the advertisers are like more inclined to like do something with big creators because it's just less work. But if the advertisers had a way to be able to do it across like thousands of creators simultaneously where the audits and checks were done by us in an automated way, then this is how we could invest in small creators in a pretty -- in a very meaningful way that will work, that will monetize them. They will make more money. The advertisers will be happy. That's the whole point of the scaling here. It's like being able to really step on the gas pedal with small creators and being able to bring them those opportunities that large creators have. That's why Rumble exists. Because like in 2013, it was all those tools and monetization and distribution that YouTube was giving to a 1 point all creators, then fully made it for MCNs, then slowly put these hourly limits and slowly pushed out the small creators and only focused on the large ones. So, like Rumble wants to be the absolute opposite of that. We want you to be able to monetize on day 1. We want you to be able to have access to all those tools that large creators have and we want you to be able to have a free and fair shot at getting distribution without it being rigged against you. So that's the whole ethos of Rumble and we're going to drive as fast as we possibly can on getting RAC up and then once RAC is up, having small creators earn a lot more for their content is going to be very possible.

I've been in content generation for about 3 years now. And this whole concept of RAC and how Rumble is approaching it, it truly is novel. So, for the questions of can small creators get paid, that's clearly the intention. And I think it's actually going to cause a little bit of ripple effect in content generation in a general sense. Like I think everyone is going to have to rethink how they do it.

Yes. I'm going to take 2 more Rants and we're good. All right. So Mikey, with YYY, will Rumble shorts become a thing? So, we were initially going to launch the vertical video within Rumble a couple of months ago and then we kind of reprioritized everything into this UI and design. But we will have a feature, a discovery feature with shorts at the top of Rumble in the carousel area. I -- it's essentially almost done now, but I don't think we'll see it until September, but I don't want to give an exact date. I'm hoping to get it out by September, but it could come sooner and it could come a little later, but we really wanted to get these new designs out the door as fast as possible. And the final one is, [ CCL Iceman ], any -- $10 Rant, any plans for better integration between Rumble and locals? Yes. And we have an imminent feature coming out where your subscription to locals will happen directly on to Rumble. And then following that feature, we're planning to start listing local content within Rumble as what local content within Rumble as well. So, the integration between locals is going to become a lot more comprehensive and very soon. So, those are things that we've been working on for a while and we feel that -- well, we know that the integration for the credit card and the subscription directly on Rumble will be -- it will imminent. It will come out -- I don't know exactly when, but it could be this week or the next week.

That's awesome. And in reality, this whole conversation has been phenomenal. I appreciate your time and speaking for the audience, I know we appreciate you being so open and candid with the people who support you, your company and your mission. Very excited to talk to you a quarter from now and seeing what you're able to pull off and really what the future vision is for Rumble. So once again, thank you for your time.

Awesome. Matt, thanks for having me on again. And thanks for coming to Rumble and looking forward to doing the next one.

Happy to.

All right. Take care.