Gfinity (AIM: GFIN)  said its digital media business continues to go “from strength-to-strength” and is expected to generate £2m in revenues for the year ending 30 June 2021. 

The esports group has highlighted Gfinity Digital Media as one of the fastest-growing revenue streams, having delivered close to £200,000 through on-site advertising by the end of July after implementing a partnership with advertising firm Venatus in mid-April. 

Gfinity said the business had been selected to deliver ‘a growing number of repeat advertising campaigns for high-profile publishers’ - including Danish gaming firm Steel Series  - ‘with a strong pipeline of direct campaigns already secured and running in August.’ 

It said its digital media channels have been fully optimised for a strong Q4 2020 and Q1 2021 of advertising campaigns and promotions driven by the launch of new consoles, games and peripherals. It said it has also strengthened its in-house media sales capability. 

Shares in Gfinity have improved from lows of 0.30p in March 2020 and closed on Monday afternoon at 3.4p. 

Gfinity said it expects revenues from the digital media business to support its move into profitability in the first quarter of 2021. It added that 50% of the total of Gfinityesports.com audience are now US-based, contributing to higher advertising revenues across the website. 

Gfinity has also strengthened its position in the US with a new Editor which will allow for the steady flow of news 24 hours a day, which the group said it ‘particularly important in Q4.’ 

Meanwhile, the company announced that it has partnered with TopCashBack to provide deals and offers to the growing community through a reward-based online programme and has started to monetise a large proportion of its social channels, including Facebook. 

In July, Gfinity Digital Media reached more than 20 million gamers on Facebook alone, ensuring the Group is in ‘a strong position to drive significant revenue through the platform.’ 

"Gfinity Digital Media continues to go from strength-to-strength,” said Talal Musa, Head of Gfinity Digital Media. 

Musa added, “We are well positioned to leverage the opportunities that will come with the new console launches and AAA game releases towards the end of this year. For brands looking to connect with the hard to reach gamer then all roads lead to the Gfinity Digital Media.” 

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