Migme: MAU Increase To Over 39 Million
Edison | Apr 27, 2016 07:51AM ET
Migme Ltd (AX:MIG) is a global social media company employing a freemium model to drive user engagement. It is focused on the emerging markets of Indonesia, the Philippines and India. At 31 March 2016 monthly active users (MAUs) totalled over 39 million (March 2015: over 14 million), an increase of 7m for the quarter. In the March 2016 quarter, cash receipts grew 32% to A$7.1m. This rate of increase in monetisation gives us confidence in our FY16 revenue forecast of A$46m. To achieve this forecast, quarterly increases in revenue (equivalent to cash receipts) would need to increase at about the same quarterly rate (32%).
Artist and entertainment partner growth of nearly 2,000 in the quarter was primarily driven by the acquisition of alivenotdead (acquired in 2014), various partnership agreements and the activation of artists signed in 2015. Through the agreement signed with Creative Artists Agency (CAA), migme expects growth to accelerate. CAA brings to the migme platform artists from Hollywood and Bollywood. CAA has particular expertise in India, where Bollywood provides a unique celebrity and entertainment ecosystem. These artists are attracted to the migme platform because it provides an alternative to the ‘pay and play’ model employed by Facebook (NASDAQ:FB). MIG helps artists to build a fan base, and engage with and generate revenue from the fans. The signing of more artists is expected to be a key factor in increasing MAU and cash receipts.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.