Last checked at 4 Feb 2014 07:00
4 February 2014
Rightster Group plc
("Rightster", the "Group", or the "Company")
Trading Update
Rightster Group plc (LSE AIM: RSTR), the global b2b video network for distribution, content-sourcing, audience engagement and monetisation, today provides an update on trading during its financial year to 31 December 2013.
The Company expects to report Revenue after commissions payable to Rights Holders and Publishers of approximately £5.1 million, up from £2.47 million for the annualised prior reporting period. These numbers include Revenue generated through a buy-out deal which the Company discontinued in early 2013. After adjusting for this discontinued business the Revenue after commissions payable to Rights Holders and Publishers for the 12 months ended 31 December 2013 was £1.97 million, up from £0.23 million for the annualised prior reporting period.
The second half of 2013 delivered strong growth in video views with average monthly views in the six months to December 2013 rising to 249.5 million per month versus 160.7 million per month in the first half of 2013, an increase of 55%. The Company has also continued to build its impressive client portfolio, including the addition of Agence France-Presse ("AFP"), one of the world's leading news agencies. Rightster will be distributing AFP's content in over 7 languages and their choice to use our distribution services is further validation of our 360 degree global offering.
January 2014 started strongly with a further acceleration of growth in video views. This trend along with expected increases in ad funded revenues gives the Board confidence for the forthcoming year.
The Company will report its full, audited results for the year ended 31 December 2013 in early April 2014.
For further information please contact:
Rightster Group plc | via Newgate Threadneedle |
Charlie Muirhead, CEO | |
Charl de Beer, CFO | |
Cenkos Securities plc | Tel: 020 7397 8900 |
Max Hartley (Nomad) / Julian Morse (Sales) | |
Newgate Threadneedle | Tel: 020 7653 9850 |
Caroline Evans-Jones/ Josh Royston/ Heather Armstrong |
About Rightster Group plc
Founded in May 2011 by CEO Charles Muirhead, Rightster is a global business to business video network for 360° distribution, content-sourcing, audience engagement and monetisation. Rightster's software and services make it simple for sports, fashion, news, entertainment and viral rights holders to enhance the value of their video whether on a licenced, ad-funded, direct to consumer or paid placement basis.
Rightster's network currently stands at over 750 content owners and over 6,500 publishers. The Group employs approximately 200 staff in 11 offices across 9 countries