Strong revenue growth in Perform FYs
Live streaming provider's ePlayer trebles its reach in first full-year results after flotation.
Digital rights group Perform, which provides live streaming to several large egaming operators, has announced its first full-year results since floating in April.
Group revenues for the period grew by 53% to £103m for the 12 months ended 31 December 2011, while its US-facing ePlayer service expanded its reach to record an average of 80million monthly unique users, a 220% increase year-on-year.
The company increased the number of licensees for its Watch&Bet streaming service to 35, a 52% increase on the 2010 total, with new deals signed with TAB Sportsbet and VivaroBet signed this year to supplement existing agreements with the likes of bet365 and Unibet.
Perform’s Goal.com brand finalised a betting partnership with Paddy Power earlier this month, while its LIVESPORT.tv service agreed a deal to stream the Baseball World Cup last October.
Since the start of the year, new contracts have seen Perform generate £90m in visible revenues, described as “the key number” to take away from the results by analyst Patrick Yau of Peel Hunt.
The firm maintains an “Under Review” stance on Perform shares, with Yau noting that “We are also encouraged by signs that regulatory pressure is easing on the in-play betting markets, with the company in discussion to move into new territories.”
Perform joint-CEO Oliver Slipper said in a statement this morning: “The opportunities for long-term sustainable growth are significant. The exciting developments in mobile and connected technology, innovation in digital sports rights and international expansion offer ever greater prospects.
“We will continue to augment this with strategic acquisitions, consolidating our position as the world’s leading digital sports business,” he added.