Last checked at 6 Sep 2016 07:00
6 September 2016
Mobile Streams plc ("Mobile Streams" or the "Company")
India subscriber update
Mobile Streams is pleased to announce that in relation to its operations in India its local subsidiary, Mobile Streams India Private Limited, has exceeded the important milestone of reaching 50,000 active subscribers. Active subscribers are measured as consumers who have made a purchase from the Company in the country in the past 60 days. For like-for-like comparability, this is the same methodology the Company uses to measure subscribers in its other markets such as Argentina.
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 the calendar year. This has the potential to increase the addressable audience from the current c.600 million mobile users to around 900 million such users.
Simon Buckingham, CEO, commented: "This is a significant initial milestone for Mobile Streams in India. 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. We continue to learn and optimise these metrics as we add new operator billing connections, marketing channels and relevant content.
"We will continue to update shareholders with our progress as and when we reach further milestones as we have done previously with other markets such as Latin America. "
Enquiries:
Mobile Streams
+1 347 669 9068
Simon Buckingham, Chief Executive Officer
Enrique Benasso, Chief Financial Officer
N+1 Singer (Nominated Adviser and Broker)
+44 (0)20 7496 3000
Alex Price
Alex Laughton-Scott