17th Nov 2015 11:06
LONDON (Alliance News) - Mobile Streams PLC said Tuesday that it continues to cut costs with the aim of maintaining its earnings before interest, tax, depreciation and amortisation for its current financial year at around breakeven, whilst it looks to invest in new areas.
In a statement ahead of the company's annual general meeting, the mobile media said it was investing in a product and market diversification strategy to develop new lines of revenue.
It noted that, as it has previously flagged, its core market in Argentina is "changing rapidly" as customers move towards so-called 'freemium' models, where there is initially free content, but further content is available for a paid subscription or premium. It said this trend is "likely to affect" its revenue in the first half of its current financial year to end-June 2016.
Mobile Streams said its ad-funded games services are now live in the US, Argentina, India and Nigeria, and it is adding new advertising network partners. It has also launched subscription services in Nigeria with a local mobile operator, and expects to launch with a second operator in the "coming weeks"
In India the company has recently launched both mobile internet subscription and ad-funded services through its Indian subsidiary, and tt has inked deals with two of the largest local Indian mobile operators.
Shares in Mobile Streams were up 8.3% at 16.51 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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