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(Sharecast News) - Mobile content and data intelligence provider Mobile Streams announced on Thursday that its LiveScores Argentina service generated more than $14,000 in revenue from around 6,000 downloads in October.
The AIM-traded firm said that was significantly more than it expected for its first month of service.
It put the performance down to a greater take-up than anticipated in the market, with the board adding that it was "extremely encouraging" as it continued to grow the service.
Current downloads for the LiveScores Argentina service totalled around 10,000, and were continuing to grow at a much faster rate than initially expected, the directors added.
Mobile Streams did note that income was generated not through downloads, but through a mixture of affiliate revenue share with Quanta Media Group (QMG) and subscription payments via its current billing contract with Movistar.
It estimated that the vast majority of revenue generated from the Argentina service would be from affiliate share, which occurs when a lead generated from the LiveScores service is sold to another organisation, which would then market its service or product to the lead.
All affiliate revenue share generated would be paid into Mobile Streams' UK account, and this would not incur any currency-related risks sometimes associated with the Argentinian market.
Additional revenue from telco subscription could also be generated, the board said, and would be paid into the Mobile Streams Argentina account.
As with the firm's successful launch in Mexico, the company said the service would use Quanta content and the Streams delivery platform.
The LiveScores platform was powered jointly through QMG's sporting score feeds, and the Streams AI content platform.
"We are very pleased to be delivering these initial revenue figures for our first month operating LiveScores in Argentina," said non-executive director Nigel Burton.
"They prove the model we have works well and that the revenue follows the downloads.
"Mobile Streams and Quanta are working extremely well together and we look forward to continuing and deepening our collaboration."
At 1604 GMT, shares in Mobile Streams were down 5.83% at 0.49p.
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