Mobile Streams posts buoyant results

News

Stuart O'Brien Mar 20 2007, 10:30am

Mobile Streams' first full-year results as a public company include a 62 per cent hike in revenue to £8.2 million and a £2 million net loss.

Results for the year ending December 31st also show revenues in North and Latin America up 124 per cent and 84 per cent, respectively, and £4.1 million cash in the bank.

It's been busy year for Mobile Streams, distributes content through both operator and direct-to-consumer channels.

It secured strategic investment from Liberty Media, successfully deployed its Vuesia content platform and made three acquisitions in the US, Asia Pacific and Europe. Content licenses secured during the year include Playboy, Private Media Group, Warner Music, Mondo Media’s Happy Tree Friends and Electronic Arts.

Mobile Streams is also managing Connectid, a start-up company that intends to make its own GPS-enabled handsets and services for GSM markets.

Europe now represents 43 per cent of Mobile Streams revenue, down from 59 per cent in 2005, North America accounts for 23 per cent (17 per cent in 2005), Latin America 28 per cent (25 per cent in 2005) and Asia Pacific six per cent.

Mobile Streams CEO Simon Buckingham said: "Interest in mobile content services from media companies is strong and growing. Mobile operators are gradually opening up access to their consumers to trusted content providers. The timing of our IPO and investment from Liberty Media enabled us to invest at the right time in our technology and content and acquire like-minded complementary companies."