Perform revenues rise as US & UK audience grows
Live streaming provider remains enthusiastic about new deals with LG, Facebook and Youtube.
Perform Group has seen its first-quarter revenues increase by 45% year-on-year, the live streaming provider has revealed in its interim management statement for the three months ended 31 March.
The rise, from £21.7m to £31.4m, comes as its average number of monthly active users in the UK and US has climbed 21.6% year-on-year to 45million, meaning those two regions now contribute 42.9% of viewers of Perform’s live streams. However the sell through rate from the UK and US markets has dropped from 71% to 59%.
Perform’s Watch&Bet service, used by egaming operators such as Unibet and Bet365, saw its number of licensees increase from 35 to 38 over the three-month period.
Meanwhile the number of live sporting events streamed by the service rose 26.7% quarter-on-quarter to 3,504 following new deals such as the agreement with Full Play Group in February which almost doubled the company’s portfolio of South American football games. Perform claims in a statement this morning that it is “On track to deliver in excess of 12,500 events in the full year.”
Smartphone subscriptions to Perform’s Livesport.tv and Goal.com services, as well as client-branded services, also increased over the period, with a 9.1% rise bringing the total number to 409,000.
More recently the company has signed distribution deals with Facebook, Youtube and LG, deals which joint CEO Oliver Slipper says “further [improve] our global reach”.
The company floated in April 2011, and Slipper suggests: “The funds raised at the time of the IPO give us a substantial platform to grow through acquisition and this pipeline remains promising.”