Rumble Inc. (RUM) Earnings Call Transcript & Summary

Welcome, welcome. welcome. We have a specialty episode of the Matt Kohrs show. I know many of you tuning in -- tune in, in the morning at the crack of dawn. But here, I guess, we're doing a little bit of a show at dusk. And honestly, I have the privilege to be sitting down with the Founder, CEO and Chairman, Mr. Chris Pavlovski of Rumble. I appreciate you taking the time to chat with me, to chat with all the supporters of Rumble, and I think we're going to have a great conversation of not just how Rumble did in 2025, but really, where we're looking forward to in 2026. So once again, thank you for taking the time out of your very busy schedule.

Thanks for having me. Glad to have you back up in the north.

Yes. Beautiful Toronto. I think I actually brought some of the cold weather with me, but maybe next time, it will be a bit warmer.

Yes. No, I do prefer being in Sarasota, but we're here in Toronto, and we'll enjoy it as much as we can.

Definitely.

Thanks for coming by.

Happy to. I kind of want to get this conversation going with what you were saying a little bit earlier today on your official earnings call of growth is back. Can you highlight to me and to everyone tuning in the major growth factors that you're personally excited about focusing on and that maybe we could spend a bit more time than just that quick call and really dive into the details there.

Yes. Well, let's start with Rumble Shorts. The last couple of weeks, I've been at my desk refreshing some Shorts and that's not a joke. We were like sending them back and forth with Rick and Assaf and we're looking at these numbers, and we're like, wow, what's going on over here. All of a sudden, you come in the next day and we're like, this just took another leg up and it keeps going. And we're looking for that ceiling and hopefully, there is none, but hopefully, it just keeps going. So that's been like phenomenal in the last month to watch and we're really seeing growth like we haven't seen on the platform in quite some time in that category, Rumble Shorts. Obviously, it's new, so there's a lot of room to grow and our audience was obviously requesting it. But just to kind of see that sequential growth over the weeks and day after day, I think like every day this week, we did 1 million unique video views, starting off Sunday, I think it was. So it's been wild to watch. And it's something we're like -- we're all just wondering like how far can we push it? Like -- and our algorithm is not even great. Like it's in the infancy of the way we want it to be. We're making tweaks as fast as possible every week. We're throwing out some new updates in the algorithm. I think a new 1 came yesterday and we're measuring that to see how it goes and seeing if that pushes things to new heights. But it's definitely been an unbelievable thing to watch. We're really excited about that. And then meanwhile, while all this is happening, and Rumble Shorts is exploding, I get a message from Rick saying, Chris, we just broke concurrent streamers as well. And I'm like, okay, hold on a second. So we got concurrent streamers at a new high peak in the last 10 days on the platform as well. That's more than we had on the 2024 election night. There's more people streaming at the exact same time as a peak than we've seen at the 2024 election, which is phenomenal, and it's amazing to see. So we're seeing growth on like the streaming side. We're seeing growth on the Rumble Shorts side. And then obviously, we saw sequential growth on the MAUs from Q3 to Q4. And I think it's like important to put everything into a perspective. 2025 was not the typical Super Bowl year that Rumble has had in the past in the sense that 2024 was the presidential election year, a lot of things happening. There was no presidential election. We lost our biggest streamer early in the year, Dan Bongino, to the FBI and to put sequential quarter growth on MAUs from Q3 to Q4 in an environment which is not exactly a tailwind to Rumble's audience was quite the achievement, I think, from our end. So -- and then as you get into Q1 and you get into this quarter and you're watching Rumble Shorts literally explode, you're watching concurrent streamers start moving again and then you have our biggest streamer come back onto the platform, it's like now you you've got all these tailwinds happening. So a little bit of headwinds in '25 overall just based on the environment and then all that kind of turning into a tailwind here in '26. So I'm excited for this year. We've got midterms coming up as well. So that's something that I think will be advantageous to us. And the platform, in my opinion, has never been more ready. We got Shorts. We have an awesome Rumble Studio product, which is driving a lot of the concurrent streamer growth. We have a platform that is far more stable than it's ever been. It's -- the features are better. It's a completely different experience than what it was 3, 4 years ago. So I'm excited to capture this audience and go through this next stage of growth and really see where Rumble Shorts can go, really see where Rumble Studio can go and see how far we can take this. I think this is like on the video side, one of the biggest opportunities that we've seen in a while on the video side, all around and around the whole platform. And a lot of credit goes to the teams and the engineering teams working day and night, getting it to where it is.

I can definitely appreciate, I guess, the verbiage you used of running into some headwinds. But in 2025, you and the team seem to actually just use it as a great foundational year because obviously, as we've been here just to pick out 1 example with Shorts how many quarters have we been doing these calls when people are asking about Shorts, Shorts, Shorts, you guys finally delivered on it. So I understand in terms of maybe surface level metrics, you feel like you ran into headwinds but you kind of used the opportunity anyway. And from there, you're kind of now transformative, okay, you rolled out with Shorts, you improved Rumble Studio. And beyond that, larger business dealings, I'm seeing a stronger relationship with Tether. I'm seeing potential big movement with Northern Data. So even outside of the world of content, like I said, I get that you're calling it headwinds but you easily curtailed it into really tailwinds here.

Yes. Well, that's what we did. We used the entire year to build the foundation of everything that we wanted to do. we really worked on the product to make it as good as possible. We launched multiple new products, the Wallet, Shorts, the Studio and its new Canvas, like there's so many things that we've done. It was truly a foundational year. And on top of that, we're bolting on Northern Data as an acquisition in the middle of it. Like last year, 2025, was a year we kind of really set the table for the future. And I think now in Q1, you're kind of starting to see what that future looks like. And I try to outline that in the earnings call because like look at the hand we have right now, like we have a hand and look at it. Look what we've built, look what we have, look what's coming in the future, look at all the pieces we put together. And we might have not seen that in 2025 reap those benefits because it wasn't there, but we now have that in Q1. We rolled a lot of stuff out here in Q1 and now we're starting to see the fruits of that. You're starting to see Shorts like on fire, doing 1 million unique video views in a single day and have done that every day since the weekend. So like plus. So it's been a journey in 2025, but it was a heads down year of build, build, build., We kind of did that in '23. We built as much as we possibly could to be as good as possible for the election in '24. That was like a lot of cloud work, a lot of like infrastructure work. We really didn't want to go down on the election of 2024. So all hands on deck to make sure we can even handle a huge night. We handled a huge night. We are like 17% of the streaming market according to stream charts, and we didn't go down. We didn't have a hiccup on election night. So that's what we were building for. That was like the foundation that we're building for on the infrastructure side back in '23 and '24, and then really kind of gearing up for that major election. And then once the election passed, we're going into a year where politics has become not the forefront of thinking anymore. You're not going to vote. It's been a -- it's a nonelection cycle year. It's been -- so we use that year to just build and we built a lot. We brought in Tether. We announced the acquisition of Northern Data and we built our product to what you see today. So it was heads down working day and night, getting everything up to where we want to be, including operationally hiring a lot more people in the last year, starting to build out a sales team to do a go-to-market strategy and sales for the first time with agencies. So it's really been a foundational year. That's the best way to explain it.

I love it. I don't want to get too much off that pathway. I have a couple of follow-up questions. But one thing that just popped in my mind, this growth that you're seeing in Rumble shorts, obviously astounding. Is your pitch for why everyone listening to this should be using Rumble Shorts, the same as Rumble itself in terms of the videos and the live streams of, hey, we care about your free speech and we're going to protect it also in this new form of video? Or is there something else like even better that you're like, no, this is really why you got to consider Rumble Shorts right now? Like where do you think this growth is coming from?

So it's a combination of everything. Obviously, we're like the free speech version of TikTok when it comes to Rumble Shorts, and that's like a competitive advantage. But even when I'm using Rumble Shorts, and I've had a few people tell me this, it's like it's very informational versus when you're scrolling TikTok, there's just like a lot of degen stuff. And then when you go to Rumble, there's a lot more informational content and you're learning things as you're flipping through. So there's a little bit of a difference and that may be just a function of the content that we currently have. But I would say there's more than just the free speech aspect of using Rumble Shorts. You also have the opportunity to grow in a new type of platform within Rumble and really grow your live streaming channel or your VOD channel in a way that you couldn't have before. So this is like a discovery tool. Twitch doesn't have it. So we have it. So you can use this as a discovery tool for your main channels. And eventually, there's going to be a monetization around it, the same way you have with rumble.com. So we'll introduce ads. Now I don't want to throw in ads. In fact, we've actually scaled back the ads a little bit in Q1 on rumble.com. We're down -- instead of doing two pre-rolls when you start the stream, we've gone down to one. We're testing that to see if that creates a better user experience for the right balance. So we're testing a few things on the user experience to try to really optimize it the best possible way we can. And Rumble Shorts won't introduce ads probably to Q3, Q4. It really depends on the growth patterns that we're seeing and whether or not we think we can do it. And if we do it, we'll start with a very low ad load. We don't want to do anything to hinder the growth that we're seeing, and we just want to continue to accelerate that. We want to blast through all the ceilings here and take this to new highs.

Absolutely. Love it. So between -- and I don't know even know if I have enough fingers to count this up, you have Rumble Shorts, you're about to be dramatically ramping up sales. You're getting into the world of AI infrastructure. We're now seeing the return of one of the largest streamers, you're deepening your ties to crypto and tether with Rumble Wallet.

Asmongold too is coming.

Asmongold, he's coming.

You saw that.

So another massive, massive streamer.

And I anticipate it's not just going to be Asmon, we're going to start to see more and more coming. That's why streaming hit a record in the last week is that you're having more people come to the platform to stream on Rumble and that's what's driving that record in the last week. We're seeing like a very high amount of streamers on Rumble concurrently at an average that we haven't really seen before. Like in fact, it's been -- we hit a peak record in the last 10 days. And that's because guys like Asmon are deciding, well, not -- it's actually probably people not as big as Asmon that decided to come to the platform and then that word of mouth goes and then now you have -- you caught the attention of someone really large on Twitch that's now looking at it. And I imagine this just continues to go out. The product is just so much better right now. And I have to say the community and the users on the platform are amazing. Like I really do think that we have built a really amazing user base on Rumble, one that many platforms don't have. In fact, I don't think any platform has the type of user base that we do. They are high performance for our advertisers. Our advertisers right now are primarily direct response advertisers, so they rely on conversions. So they're not going to be average spending money with us unless they make their money back. So our audience spend money with our advertisers. And it's a real audience that is quite amazing and the whole community, the whole streaming community has really kind of picked up Rumble in a way that we haven't seen in the past. So I anticipate that we're going to see streamers like Asmongold continue to come on to the platform. And that concurrent streamer peak is going to hopefully hit new highs as we move into the following months.

Sitting on this side of it, it's definitely interesting to see how that snowball is rolling and getting bigger and bigger to once again, Bongino, is already returning, but now it's getting into the world of Asmongold. And I don't know if this is just Internet lure or if this is just a rumor, but correct me if I'm wrong, sounds like we almost owe a special thanks to Asmon's aunt. I believe she was the one who convinced him to check it out.

Yes. Apparently, his aunt is a heavy user of Rumble.

That's pretty funny.

So that's pretty cool to see. In fact, like we might not have a lot of users that overlap with the Twitch world, the younger streamer world. Our user base is probably quite different than that. So seeing someone like Asmon come to Rumble could have a pretty big impact on our users. It's a whole different cohort of users. And we welcome that, and we can't wait to see him start streaming on Rumble. That will be an exciting day when he does that. And I'm also quite interested in how he's going to stream. Hopefully, he uses Rumble Studio and hopefully, it attracts other streamers like him to start multi-streaming to Rumble.

So with that in mind, on the live streaming front, what's going on with the Studio, what's going on in crypto, what's going on in AI infrastructure, all of that. I feel like we're talking about so many different moving parts at once. Is there a particular thing that you think the world, the platform supporters are just kind of like not quite getting the story on that you're like, "No, I think people are maybe missing the note on a certain thing?"

Yes. You kind of -- we talk about that internally all the time, but we try not to be distracted by that. Obviously, we want to deliver the most shareholder value we can, and we're all heads down doing that, and we try to stay away from the noise. But when we -- when I look at this -- what this team has built and the assets that we're putting together and what this company is going to look like in 1 year and 2 years and 3 years from now, I do think that the market doesn't -- might not see exactly what we see. But I'm the kind of person that just wants to walk the walk and not do the talk. And if the market doesn't believe that, like I'll do my best to show them that they're wrong. So maybe that creates an opportunity for everybody right now. But my job is to kick a** as much as I possibly can in the next year or 2 and really put this in a place that is quite different than it is today. I think we have all the tools in the bag. We have an amazing hand. We've executed quite flawlessly with delivering on the product, getting this acquisition, moving on this acquisition, which hopefully -- which is slated to close here in Q2, which is quite soon and then take that asset and take -- put that together with Rumble Cloud and really show a different company in 2027, a different revenue profile, a different EBITDA profile, something that's going to hopefully shock the markets.

Yes. I mean, you don't have to comment on this, but I'm just running some back of the napkin math and looking at when Northern Data is already doing in the earnings call, you already cited the point that they're scaling up their capacity. We're looking at their numbers. Basic math is telling me some serious jumps, and I'm obviously very excited to see how that plays out. But I appreciate you for expanding upon like what you see going on. I think it's always very cool when the CEO takes that time to kind of add a little bit more context. And on that note, I know you love engaging directly with the audience. So do you want to do a couple of questions directly from people tuning in right now?

Of course. Yes. Let's do it.

Love it. Love it. Love it. So folks, if you have a question, once again, Founder, CEO and Chairman of Rumble, the company that clearly you're watching this, so you love it, you're getting a very rare opportunity to speak directly with him. What's on your mind, questions, comments, concerns, let's let it fire, and we're going to do as many as we can in the time that we're allotted. So folks let it rip.

So I see one here, R. Zem. With names like Asmongold announcing plans to multistream, how are you thinking about attracting creators who fit your core audience mediator -- i.e., mediator to also post and stream on RUM beyond word of mouth? So that's a great question because like the way the Tether advertisement commitment works is really dovetails into this question. So the idea here is that we're -- we have a whole team at Rumble already that is proactively looking to bring in a ton of creators and the plan is this. We're trying to bring them into Rumble Studio. And when they go into a Rumble Studio, they will then multistream to all their platforms, including Rumble. But at the same time, they're in Rumble Studio, we're providing them with sponsorship ads of the Rumble Wallet. And that's the part of the commitment of the advertising with Tether that it's going to go to is that we'll be pushing -- these creators that come in using Rumble studio that are new are going to have a dedicated dollar amount behind them that they can use in Rumble Studio to monetize their streams. So as a creator, think about this, you're Asmongold. You use Rumble Studio. You come in, use Rumble Studio, you get a Rumble Wallet read to tell your audience that, "Hey, come and tip me, Bitcoin, Tether, USD or Tether Gold," and not only is he going to get paid to tell his audience to tip him in Tether USD and Bitcoin, but we're also going to be getting a streamer -- a new streamer on our platform that's using Rumble Studio and maybe selecting other sponsorship reads within Rumble Studio and bring in MAUs and chatters over to Rumble. So that's kind of like the win-win-win across the board. Tether wins with their advertising, Asmongold wins with making more money and then Rumble wins by getting in the MAUs and they start using our products, et cetera. So the idea here is, yes, we're going to go after as many streamers as possible and not just streamers, but VOD creators as well and try to get them into Rumble Studio and get them onto the Rumble platform to then do -- and then provide them the advertising reads through Rumble Studio where they can make money. So this is far different than the days that we did back in the day in 2023, where we had to go and do contracts with the creator and try to link up the advertising money to try to make that a positive ROI with that. In this case, we're just saying, hey, we have an ad budget of X amount in Rumble Studio waiting for you. Do you want is a multistream on Rumble? They either say yes or no, and then they're off to the races. So anybody that comes to Rumble like Asmon will have this opportunity if they use Rumble Studio, and we'll try to get as many other creators to do the same thing. It's there for everybody. We want to bring it in for everybody. If you go and use Rumble Studio right now, there is an option for you to do to tell your audience to use Rumble Wallet, and you'll get paid for it. So we have an entire team right now, trying to get that word out and trying to get streamers from Twitch and YouTube to come over to Rumble and start using Rumble Studio to make money. It's not necessarily a contract, but it will -- it is a contract theoretically in terms of service on the website, but like the idea is that we're trying to bring as many people and as many new creators onto the platform using the Rumble Studio as the mousetrap. And it's started. We're starting to see it, and it's something that we want to grow immensely here in the next couple of quarters, and this ad budget will start kicking in, in a material way here in Q3 and Q4. I mean Q2 and Q3 is when it will start kicking in.

I know this is anecdotal, but as a content creator, today, I got a little look at the behind the scenes of what the new Studio is going to be. And I have to say for all the creators watching, it is economically easy to set up the multistream and then when you overlay those ads, I have to say, it's a couple of clicks of the button. I've been doing this game for years and hats off to the tech team behind it. I know for me, I'm very excited to kind of get rocked with it because it's just that simple. So I have to say for the creators, definitely worthwhile to check out.

Yes. We got another one, Carlson8. Question, any plans to advertise to users. Most people don't know Rumble exists? Absolutely. This is where we're leaning in with Rumble Shorts. We have a lot of new content coming in with Rumble Shorts that is not political. And we're using that content to advertise to different cohorts across different platforms. We literally just started doing that today, and we're going to really scale this up in March and really invest and market the Rumble Shorts platform. We think Rumble Shorts is not only going to be like a growth driver for Rumble internally in our core audience but we also are going to use it as a most trap to really grow Rumble outside of our current core audience. So I think it's a win-win that way. It's a lot easier to get people to create channels and Rumble for Shorts than it is to get them to start streaming on Rumble. So it's a much better mousetrap for us to kind of grow the platform outside of the core audience that we have.

Is the pitch along the lines of, hey, if you're already making Shorts on TikTok and YouTube and Instagram Reels, you might as well just load it up here as well because if you grow, you grow.

Yes. And all the clippers out there, right, like throw it up, throw up everything, like let's get everything up there, and let's see what does well. And we're seeing fantastic -- like the results here are fantastic. So it's an easy way to grow and Rumble like right now.

That's scale to 1 million is just so fast.

669,000, 1 week prior to the day we hit -- we broke the 1 million.

66% growth in 1 week.

It's a little higher than that. It was like 1.2 million. When we broke 1 million, we broke it big, like it was close to about 1.2 million. So almost close to a double.

I mean at that pace, what's going to be really crazy is when we're talking about this in the future, 1 million is going to sound comically small like at that pace it's crazy.

I sure hope so. We're going for everything here.

I like it.

So no ceiling.

What else do we have here?

Do you anticipate issues with regulatory agencies in either Germany and the EU in regards to Northern Data acquisition or having a presence in EU with censorship laws? I don't see any issues with the Northern Data stuff. Now on the censorship stuff with Rumble, I definitely do see issues with that. There's a lot of countries around the world that are just like not for free speech. They want to control everything you say and everything you can hear and see and then that's just the nature of governments that want to stay in power. They're always going to do that to try to keep control. So -- and I think Europe is in a place that's gone quite downhill on this, and I don't foresee any time soon that's changing. So -- and when it comes to censorship in Europe on the video side, yes, obviously, that's something that's concerning and we'll navigate appropriately where we can. With respect to Northern Data, that's a total different business. That's the cloud. I don't see any kind of type of issues there at all.

Good to know. Here's an interesting one. For creators on Rumble, any comments on discoverability? It sounds like Shorts is probably one of the most interesting tools for higher discoverability. Would you agree with that?

I would agree with that. And Mrs. Ma'am just posted something on the lines of that. I'm getting better numbers on Rumble Shorts than any other short platform I opposed to, really excited for the future of Shorts. And we're seeing that with a lot of different creators is that I guess the pool is a little smaller right now. So you're kind of seeing like a lot of traction with all the creators that are kind of using Rumble and already have a following on Rumble. They are able to propel their shorts much better than they are in other platforms, which is amazing to see because like that's what it's there for.

I mean it's the time to strike. If you look at the biggest creators on any platform right now, one of the most common correlations is an early adopter. Right now, folks, this is it like it is really hard to beat the blue ocean strategy, and that's where we're at right now.

That's a first market mover opportunity for anybody that wants to get into Rumble Shorts if you're in there early. If this thing turns out to be a huge success, you're probably going to have a high likelihood of being part of that success. So we'll do everything to continue growing that and pushing the pedal on that. Obviously, like there are some people that aren't getting as many views as they think they're going to get. And maybe that's a function of the content. Sometimes, I think like a lot of people might not realize their content is not as great. But also, it's a function of like our algorithm is not perfect that either. So give it some time before giving up on it. I do think that as the algorithm improves, it will really start picking the winners a lot better. And really -- ultimately, it will be the viewers that will decide which content is going to really take off and whatnot as our algorithm gets better.

I like it. You were speaking a little bit on the earnings call about international audiences, and this is kind of similar to that. Any ideas for auto audio translation to other languages?

So we have something -- we're really kind of getting into this whole AI space, not just because of Northern Data, but also with the Tether guys and how we're going to apply that to content on Rumble in terms of making it more informational and giving people moments in videos and translating and kind of condensing all that. All that is coming together in terms of how we're going to -- like we're all planning for that now. That's all in planning stages. The development on some of it has started and development on others have not. But that is all part of the planning right now. Now that we have like all our core -- the last year has been like, we've got to build these products. We've got to build Rumble Shorts. We got to build Rumble Wallet. So it was like really hard to like refine other things the way we wanted to. But now that all these products are out and we don't have like a big major initiative like a Wallet or Shorts at this moment. It's all about taking everything we have and making it like super awesome. And that's what we're going to continue to do. The product teams are humming right now, and I'm really excited about that.

Definitely seems so. That's awesome. Quick one, can you explain what Rumble Shorts are?

I'll let you do that.

Basically short-form vertical content similar to YouTube Shorts, TikTok, Instagram Reels. Generally, they're sub-60 seconds. It's just kind of a quick little dopamine hit forms of content that I can say from sitting on this side of the table, it's been requested out of this team for a while now. And obviously, we're finally getting it delivered and the numbers themselves are pretty astounding. So check it out, it's already on Rumble. You could see it for yourself. It's there, but just a different style of content, the shortest form, hence, the name Shorts.

Cliffglitch, the algorithm is dynamically improving. Is there an AI being utilized there? Not yet. It is -- right now, we're still manually improving it. And it will -- the goal is to get it to a dynamically improving algorithm and potentially, we'll explore AI as well on that. And obviously, with the resources that we're going to have, that could be pretty easy for us in the future. But it's not there yet. Like I said, we're in the infancy of the algorithm. There's a lot of work to do on that algorithm. It will continue to get better every week.

Any plans for Rumble to get into Shorts -- or not Shorts, sports. You guys are already in sports.

Yes, we are already in sports. If there's an opportunity in sports to do more in sports, we're obviously interested in that. We started doing boxing matches on Rumble Premium. We got Street League Skateboarding, which is also on Rumble Premium. So -- now, sports is a very competitive space. It's a very expensive space. We've spent a lot of money doing sports. A lot of our cash has gone towards that. As an investment, it's not like typically the best investment that we've seen but it's definitely something that -- it's a little better when you get into the more -- the smaller sports like Street League Skateboarding. That's when it starts to perform a little bit better.

Interesting.

But like, if you take a look at like YouTube spending $14 billion on the NFL rights and stuff like that, it's -- I don't know how directly impactful that is to their business. But clearly, it's a game to capture as much of live sports as possible right now for the Netflixes and the Amazons and the YouTubes. It's something -- it requires very deep pockets to compete in and it's something we're looking at, but like at a little bit of a smaller scale than they are.

Interesting. It's always kind of cool to see what's going on behind the current because we see it like just as the consumers of what's happening day in and day in out. So to get a little bit more insight, very interesting.

What else do we got here? More sports in the lineup. I feel like a bunch of questions went right by and we missed them. But -- thoughts on the content such as Angel studio movies or shows? From Sunshine13. So yes, in fact, we recently reached out to the Angel Studios guys. That's something that I think would be awesome to have on the platform. Maybe in the future, there's something there, but we're very interested in wanting to work with Angel Studios if the opportunity arises. So -- but that would be pretty cool getting their portfolio on Rumble Premium, something that would definitely be interesting to me. People like Rumble Shorts. Can Rumble Wallet be expanded at general use? I'd like to buy crypto, if I could through Rumble. From Embers. So the answer is it already is. You can buy Bitcoin from Rumble Wallet right now, and you can use it as just a wallet to purchase Bitcoin. You can use it as a wallet to purchase Tether gold. So if you want to invest in gold. In fact, that's kind of one of the ways I'm now buying gold, as I'm buying Tether gold. And what we should do is we should do an IRL live stream going to the vault in Switzerland and redeeming our Tether gold for a gold bar.

Go there tonight. Well, I will be there on the next flight. You tell me when.

That would great stream. Let's like test it. Let's go there. Let's get our gold bar, gold coin or whatever we have in our Tether gold and our rumble Wallet and redeem it for actual physical gold. I think it's like the only type of vehicle where you can redeem your coin for gold. So I think that's like super cool. Yes, they got -- I saw Bloomberg reported that they have some like nuclear bunker in Switzerland where they're storing all gold. But I definitely know that you can go redeem it there for actual gold bars.

I'm almost picturing like Fort Knox on steroids. What's going on there?

Yes. Well, they were just reported to be like the single largest private holder of gold in the world. Like that's what Bloomberg, I think, wrote. And that's like -- that's so cool. That's a lot of gold.

Tether. They're operating at another level.

Ask Nicki Minaj to move her music catalog to Rumble. I'll try to do that. I definitely know some people that can ask for that, but there's going to be -- I don't think she controls her catalog. It will probably be one of the music houses. This is actually something that we've talked about in the past. We really want to get these music catalogs on Rumble and work with 1 of the agencies. Well, all the -- I guess, the agencies that represent all these catalogs and have the rights to it. So that's something that we definitely want to do. And we definitely want to explore and bring music to Rumble and be able to listen to that on your Rumble app while you're in your car or whatnot or with screen off. So I think that's a great suggestion. And it's something that we are pursuing, and we have been pursuing. Those are a little bit complicated in the contract side to get done, but it's something that we do want to definitely get done for sure. Is the Creator House coming back anytime soon. It was fun watching folks? Creator House is back. I think Tim Poole used it for a good month or so, maybe more than 1 month, 1.5 months. So he just left, but it's back. It's fully functioning, and it's there. What are you thinking about XMoney competition? I don't know much about XMoney. I imagine it's going to be very different than Rumble Wallet. The Rumble Wallet is entirely crypto, Bitcoin, U.S. Tether and Tether Gold. So I don't see that as competition. I think a lot of people always thought X was going to compete with Rumble on video. I don't see that either. I never -- they might have said that we're going to do it, but it hasn't really had any effect on us. In fact, we're still 52 million MAUs. So we're doing okay. We don't see competition from X. In fact, I think X has been complementary to helping Rumble get more users now that a lot of creators can talk about their content on Rumble. So it has not -- that's not -- that's been actually like positive.

This is funny one. We need more reality TV on Rumble. So I guess it must really like that creator house there, people -- they need the reality TV.

Interesting. We should do a 24-hour 7-day stream with a bunch of creators in the house and see what happens. It's not a bad idea. Maybe we should do it. Will tip processing speed up in the future? Right now, it takes several minutes to process. If you tip in Bitcoin, it could take like 20 minutes to process. If you tip in Tether Gold or Tether USD, it will be quite instant and if you tip in fiat, then it's instant. The reason why Bitcoin takes longer is that the Bitcoin network has all these gas fees. And as it gets busy, it takes longer, it could take 10 to 20 minutes to settle.

Yes. The process takes a lot. Yes. So to clarify, that's a function of the technology. That's not really new -- that's just literally how Bitcoin operates.

Steak n Shake should advertise on Rumble. From Carlson8. Yes. Absolutely. Steak n Shake should definitely advertise on Rumble. And Rumble Rick just spanned the chat by gifting everybody a membership and all the questions now are scrolled up and gone. So now I missed all the questions.

That's a good note right there. I know we're running a little bit over your very busy schedule.

No, no. It's fine. I love this.

You sure? Okay.

Yes, yes. We'll go for a couple of minutes if there is more. This is great. Any thought on Rumble streams having a channel points feature and a pop-up notification for subs of multiple months? That's a question for Rick and Assaf. The -- so Rick, I'll let you answer that in the chat where we are on that. Rumble Wallet web version. We've made it app-based. The web version is -- that's a good question. I'll have to check into that. And I'll get back to you on that, but I don't know where that is in the build-out phase right now.

He also says offline downloads in the apps are dropping soon. That's pretty exciting.

Yes. So you'll be able to download, I think that's like any day now or next week. So that's very soon. You'll be able to download and listen on the plane or whatnot. Chris, hire me to market for you guys. I already -- this is coming from plasticquack. I already promo you everywhere I go now. I'd quit my company of 27 years promo in Southern California. Well, Southern California, an interesting place, but definitely apply. We -- actually I think like many of our employees were just diehard rumble fans and applied straight from the website -- on our corporate website, I think countless different people. I think Rick actually was -- watched Charlie Kirk and talked about Rumble and then he just applied. And that's how Rick got to Rumble. So that's -- the best way to apply is straight from our corporate website and then let them know that you're an avid Rumble user for sure, that's always helpful.

I see 1 asking about OpenClaw? Are you guys planning on doing some OpenClaw work?

Yes, yes. So we're -- hopefully, sooner than I thought, we basically started working on this a couple of days ago and put this at the top of the priority to kind of integrate OpenClaw with Rumble Cloud. So that our CTO, Wojciech, is taking that as like top priority now for himself to integrate into Rumble Cloud. So hopefully, we'll have an update on that this month, at the end of this month, and we'll let you know where it is, but the plan is to have this out fast. Are you looking to use more of the amazing devs that are doing third-party rumble and other alternate socials? I don't know -- from Yankeefree. I don't know if what you mean by using them like we love third-party devs and we love what they're doing, building around the platform, and we want to support that as much as we can. There's a lot of talk with Rick and everybody else with respect to that. And it's something we definitely want to push forward. I think Rick is working on an API for all of that to really take it to the next level. So this is something we're -- this is actually -- we've talked a lot about this and something that Rick and Assaf are very passionate about. And I agree, like I think that the developers what the -- some of the developer stuff that they've been making on their own is so incredible. It's like -- it's just wow.

Yes, Rick is saying that more API capability is coming. So it sounds like the devs are going to have even more customer base...

Now that Rumble Shorts is done and Rumble wallets are done, we can really kind of focus on a little bit of the -- a lot of these type of things, which the community is looking for because the big projects are big projects. They really consume a lot of time and a lot of dev power.

Any plans for locals to be fully included with Rumble premium? It kind of already is, isn't it?

Where is it?

[indiscernible].

Yes, it's kind of -- we're kind of integrating it. There should be further integrations with that. That's something that Assaf is looking at, and there'll be more updates on that. Five years and down 50% stock price for investors that have been here and believe in like Rumble. What are you doing to crush shorts? Well, the best thing we can do is build this company in the best way possible. Obviously, we set the foundation in 2025. And we're really trying to set up for a magnificent '26 and '27, adding in Northern Data. I think the revenue profile of this company completely changes when that closes. I think as the Tether Advertising Commitment starts to kick in, in the second and third quarter in a material way, that has a big impact. But obviously, I don't love the Shorts at all. I'm a huge stockholder. I watch as diligently as everyone else. That's a shareholder. And I want to make them have pain. And the way to do that is to build this the best way possible and really prove it through the financials over time and prove it with making an amazing company. That's the best answer I got for you there. I would love to see nothing -- I would love to see the Shorts get crushed.

All the comments, buy more RUM. There is all the RUM.

All right. What else do we got? Let's finish this off here. Can you talk about the retention and stickiness you're seeing among Rumble Premium subscribers? So the Rumble premium subscribers are the best cohort of stickiness and retention that we have on Rumble. They're obviously the most loyal user of the platform. And we -- that's been something that's been growing quite nicely over the last year and more particularly more recently as well. And it's been -- it's definitely the user base. It's kind of like this counterbalance because like I got my ads team that wants impressions. And a lot of people are converting into premium and taking away impressions from my ads team. So I got to juggle it a little bit. If we put too many ads, we get -- it will drop a lot into premium. If we put less ads, they get a little bit of -- maybe not so much premium. So -- it's like a perfect -- we got to find the perfect balance there with ad load and premium. But Obviously, we're trying to optimize it to make the most revenue per user as possible on the platform. And Rumble Premium has been a pleasant surprise over the last year. I think we launched it like late 2024 and we really kind of pushed it out around elections -- post election time. And it's been a very, very stable, steady, growing product for us. And we continue -- we hope to see that continue the way it's going. It's been great. And as we bring in more people from the top of the funnel, like more users, hopefully, that will only accelerate the premium as well and accelerate the ad load as well, too, like we obviously want -- that we want the ad business to do very, very well. I know YouTube subscriptions have a small fractional rate of pay to given watch time similar to ad rates. Does Rumble rev share with channels a portion of Rumble Premium subs? So a lot of what we're doing with the Rumble Premium is we're sharing that into the Rumble Creator Program. So a lot of that money is going into the loyal users that are using the Creator Program. And that's kind of how we're channeling that revenue into the creator economy is through that Creator Program. We're actually looking at that very -- whether or not that's the right move or we should do a combination hybrid. So it's something that we definitely are looking at and thinking about extensively.

We're slowing down a little bit.

Yes, I think we answered pretty much everybody out there.

Awesome. Well, folks, for those of you who turned in and got some of the insights from Mr. Pavlovski himself, obviously, thank you. And to you, Chris, obviously, it's always a pleasure to sit down and see what's going on. I congrats to you and the company on the momentum and hopefully a couple of quarters from now, we're talking about even bigger and better numbers. Always a joy. Thank you so much.

Thanks for having me. And looking forward, like I'm really looking forward to sitting here 2 to 3 quarters away from now and the next quarter and the next quarter. But most what this company will look like at the end of this year. I think by the time we're in Q4, talking about Q3, it could be a very different company over here. So I'm very excited about the Northern Data stuff, and I can't wait to show the world what it's going to look like.

I myself truly excited to see where this is going to be going. Once again, to you, folks, thank you for tuning in, and we'll catch you next time. Thank you.