6th Sep 2016 07:29
LONDON (Alliance News) - Mobile Streams PLC on Tuesday said it has exceeded its milestone of reaching 50,000 active subscribers in India and expects to add additional billing connectivity in the region before the end of 2016.
The emerging markets-based mobile media company said its local subsidiary in India, Mobile Streams India Pvt Ltd, exceeded the 50,000 milestone for active subscribers. This relates to consumers who have made a purchase from Mobile Streams in the country in the past 60 days.
Mobile Streams said the growth in active subscribers to date has been driven by subscription growth enabled by billing connections for the three largest local mobile phone operators.
The company expects to add additional billing connectivity to the next three largest network operators in India before the end of 2016 which could increase its addressable audience to around 900.0 million users from 600.0 million at the moment.
"Whilst we are still in the investment phase and there is still some way to go before our operations in India will be breakeven on a cash basis, we are now at a point where we have a good understanding of our key metrics such as subscriber acquisition costs and lifetime subscriber values," said Chief Executive Simon Buckingham.
"We continue to learn and optimise these metrics as we add new operator billing connections, marketing channels and relevant content," Buckingham added.
Shares in Mobile Streams were up 25% at 56.00 pence on Tuesday morning, among the best performers in the AIM All-Share.
By Hannah Boland; [email protected]; @Hannaheboland
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