LONDON (Alliance News) - Rightster Group PLC Friday said it was on track to see 150% net revenue growth for 2014, and expressed cautious optimism ahead of the fourth quarter despite "continued variability in advertising cost per impressions".
The video distribution and monetisation company said that its average monthly video views in the third quarter of 2014 have increased to 1.2 billion compare to the 386 million it saw in the second quarter.
The company's integration of its acquisitions Viral Management Ltd and Base79 Ltd are progressing, and it expects them to be fully integrated before the end of the year.
Rightster said that it "still considers scale to be the key determinant of success", and highlighted that results from internet analytics company Comscore showed in September that it has "secured a position as the largest YouTube multi-channel network (MCN) outside of North America and the fourth largest YouTube MCN within the US."
Throughout the third quarter the company won new business with Turkish Airlines, and a grant from the Arts Council England worth GBP1.8 million over three and a half years.
Shares in Rightster are trading down 3.6% at 40.00 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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