Bango buoyant as profits rise

News

Tim Green May 18 2006, 4:30pm

Bango has proved the rising power of the off-portal mobile content market with buoyant annual revenues up 121 per cent to £7.53 million.

The UK-based company also reported profits up 125 per cent to £2.19 million in its preliminary results ending 31 March 2006.

The main part of Bango’s operation is a payment platform that lets content publishers sell to consumers away from the operator deck. This service has attracted major brands into the market – including Channel 4, Sony BMG, Hearst Publications, Manchester United, Discovery Mobile and EMI Music. The service is also flexible enough to cater to niche vendors. Indeed, the number of content providers spending over £5,000 per year with Bango has increased by 250 per cent since March 2005.

The company completed an IPO in June 2005 that raised £6.21 million. It’s used the cash to expanded into the US, Spain and Germany. And, despite its off-portal heritage, Bango has worked with operators, helping them forge relationships with content providers. Carrier partners include Orange, O2, Proximus, Cingular Wireless and Telefónica.

Ray Anderson, CEO of Bango, said: “We have established a strong and scalable business. Our growth is accelerating and the market, although still at an early stage, continues to develop in our favour.”