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Iconic Labs takes indirect stake in The Tab through investment in Medium Channel Media Ltd

Last year The Tab generated revenues of £1.28mln and Iconic Labs thinks a “significant increase” in revenue and profitability is possible in the "short term".  

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The Tab is a UK youth and student news website

Iconic Labs PLC (LON:ICON) has taken a 24% stake in media investment firm Medium Channel Media Ltd (MCM) in exchange for management and consultancy services and a £150,000 loan for working capital purposes.

At the same time, MCM has agreed to buy Tab Media Ltd, which owns UK youth and student news website The Tab.

Under the terms of its deal with MCM, Iconic Labs said it will use its expertise to help The Tab sell advertising space more efficiently and to improve the site’s commercial presence and relationships with target brands. 

MCM will provide a minimum retainer revenue of at least £25,000 a month.

Iconic Labs said it believes its experience in building UNILAD, the news site founded by the company’s chief executive and chief business officer, will be “critical in ensuring the success of this strategy” to grow The Tab’s market share and bolster its financial performance.

"Given our experience in creating UNILAD, which started as a student publisher before we developed it into the world's largest social publisher with revenues of circa £ 10mln, we feel confident in our ability in adding value and increasing revenues at The Tab through our involvement once MCM has completed the acquisition,” said chief executive John Quinlan.

“We have always thought they had the most credible brand in the sector and we are looking forward to working on it through our agreement with MCM.”

Last year The Tab generated revenues of £1.28mln and Iconic Labs thinks a “significant increase” in revenue and profitability is possible in the "short term".  

It sees the potential to receive total revenue and cash payments of more than £150,000 through its indirect stake in The Tab.

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