In its half-year results for the period to 31 December 2021,Mobile Streams (MOS ) said it has seen group revenues grow every month since the launch of the LiveScores platform last July.
Since the launch of the company’s LiveScores football 365 service in Mexico last summer, subscriber growth has continued to exceed internal targets every month, it told investors.
This has also been the case in Argentina where Mobile Streams launched the LiveScores service in September 2021 - it said user numbers have continued to exceed expectations.
In November 2021, it launched the LiveScores service in Brazil while in December 2021 monthly revenues exceeded $80,000, with over 70,000 monetisable Streams users. The Group said its Streams SaaS content platform continued to increase paid user numbers.
As at 31 December 2021, revenues (which comes from continuing operations) came to £0.3m, up slightly from £0.2m in the prior year. The company also had £1.4m of cash and cash equivalents at 31 December 2021, up from £1.1m in cash as at 31 December 2020.
Mark Epstein, CEO of Mobile Streams, said: “Since the launch of the LiveScores platform in July, we have grown revenues every month. Although it has taken longer than hoped since 2019 to find a way to build on our existing carrier relationships, we are now doing so.”
Since the period end, Mobile Streams has unveiled a major strategic partnership and contract with International Gaming Systems (“IGS”) which is expected to deliver significant revenue. As a result, monthly revenue across all services exceeded US$120,000 in January 2022.
In February 2022, it launched gaming, esports and Metaverse services in India via its own App, which will be potentially available to over 273 million of Vodafone India’s customers.
February also saw the launch of the group’s first Esports competition under the partnership agreement with IGS, and the acquisition of sole ownership of the LiveScores services that it had previously been operating under a revenue share agreement with Quanta Media Group.
In late February 2022, the group’s partnership with IGS resulted in the launch of Battleriff, one of the world’s leading global gaming platforms, tournaments on www.mobilegaming.com. The group believes there is enormous scope to grow mobilegaming.com and its service offering.
In February alone, monthly revenue across all services exceeded US$150,000. Meanwhile, Mobile Streams has started the process of uploading its content to the Huawei App gallery; once successful, these will be made available across the Huawei handset user base.
Addressing the company’s shareholders, Epstein added: We are actively looking at ways to improve the effectiveness of our marketing including through further joint ventures and partnerships, and see significant opportunities to grow customer numbers and revenues in the sports and Esports. We are delighted with the performance of the business and expect to see the trend of good revenue and customer growth to continue throughout 2022.”
In a separate statement released today, Mobile Streams told investors that it has exercised its option to acquire the remaining 51% interest in KrunchData on the previously detailed terms.
The company’s £765,000 consideration will consist of £265,000 cash and 166,666,666 in shares issued at 0.30p each, being the closing price yesterday, 17 March 2022, it noted.
In March 2020, the company announced its intention to acquire an interest in KrunchData.
The key commercial purpose of the deal is that Krunch can provide the expertise, software and systems under licence to enable Mobile Streams to build a second, complementary, revenue stream and to examine whether value could be extracted from its existing client data.
For the year to 31 December 2021, Krunch generated revenues of £397k and a loss of £85k.
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