In 2022-2023 Fabiosa Media, being a company with Ukrainian roots, faced a number of stress factors, such as the start of a global economic recession, advertising market headwinds, Facebook algorithm changes, and, above all, the war. We have stood up despite all the difficulties and continue developing the business.
Nevertheless, the aforementioned struggles led to smaller video production output, postponing of key projects' realization, and a significant drop of indicators (such as RPM). Moreover, the current social media landscape requires us to produce more versatile types of content and gain a higher level of flexibility in our content strategy. It forces us to introduce a number of operational changes to achieve the business' targeted indicators.
We have gone through considering and creating a number of forecast models to revamp the business and make it able to withstand the upcoming 2023 challenges. As a result, we have finalized the plan that we strongly believe will help us as a company to not only withstand the challenges, but keep on growing and carrying out our Mission.
The plan provides for several upgrades of the current business model of Fabiosa Media and is mainly focused on curtailment of in-house offline production and resetting of online content production.
We are grateful to our founders and investors who have supported us through this process and provided us with the resources needed to put this plan into action.
We will also make every effort to provide our specialists and partners affected by Fabiosa Media's upgraded program with maximum support and to ensure the most favorable conditions for their further development in the industry. We highly appreciate their significant contribution to Fabiosa Media.
We remain extremely optimistic, positive, results-oriented, and confident of carrying out our Mission.
Stay tuned, we are going into new opportunities and partnership projects, and as always - with a lot of viral and beloved Fabiosa content