Perform Group plc Interim Management Statement for quarter ended 31 March 2011
Perform Group plc Interim Management Statement
5 May 2011
Q1 trading in-line with expectations - on track to deliver strong full-year growth
Perform Group plc, the global market leader in the distribution and commercialisation of sports content across connected digital platforms, today issues its interim management statement for the period from January 1, 2011 to March 31, 2011.
Perform has continued to grow and develop strongly during the period, with increases across all revenue streams. The Group's revenues for the first quarter grew, year-on-year, by 51%, to £21.7 million from £14.4 million in the same period in 2010.
We remain on-track to deliver strong full-year growth in-line with management expectations.
Business Performance Highlights
Content Distribution
· Three new Watch∓Bet license deals contracted in Q1 taking the total to 26 (31 December 2010: 23).
· 2,768 live Watch∓Bet events streamed in Q1, a year on year increase of 40% (31 March 2010: 1,980).
· 11 new OMNISPORT license deals contracted with 59 licenses in total as at 31 March 2011 (31 December 2010: 48).
· Four new GSM licenses contracted with 136 licenses in total as at 31 March 2011 (31 December 2010: 132).
· Seven new Watch∓Trade licenses contracted in Q1 taking the total to 42 (31 December 2010: 35).
Advertising ∓ Sponsorship
· The ePlayer launched in four new territories in Q1 and is now live in 17 geographies (31 December 2010: 13).
· ePlayer is ranked no. 1 in UK, Germany, France and Italy, and is already ranked no. 5 in US (having only launched in December 2010), in Comscore Online Sports Video for March 2011.
· 585 million video on demand streams viewed across the whole ePlayer network, a year on year increase of 170% (Quarter ended 31 March 2010: 217 million streams).
· 58 million average monthly global unique users across the ePlayer network, a year on year increase of 153% (Quarter ended 31 March 2010: 23 million average monthly unique users).
· Goal.com, the world's largest football website, attracted an average of 19 million monthly website unique users in Q1 and had over 225 million page impressions in March 2011 plus had over 1.5 million Facebook and Twitter fans as at 31 March 2011.
Subscription
· 248,000 subscribers across the Group's Web TV, Smartphone Application and SMS products as at 31 March 2011, up 24% year on year (31 March 2010: 200,000).
· 14 LIVESPORT.tv channels live as at 31 March 2011, with new launches including channels for top flight Dutch football: (www.livedutcheredevisie.tv), Australia's National Rugby League (www.livenrl.tv), Australian Rules Football (www.liveafl.tv), plus channels for the leading Brazilian and Argentinean domestic football leagues: (www.livecampeonatopaulista.tv and www.liveprimeradivision.tv).
Financial position
· On 8 April Perform successfully completed its listing on the London Stock Exchange (LSE: LSE.L - news) , raising gross primary proceeds of £72.5 million which will be used to accelerate organic growth and pursue strategic acquisitions to drive the Group's development.
· In advance of listing, on 18 February 2011 the Group completed the acquisition for $30 million of the entire share capital of Goal.com (Holdco) S.A. The acquisition was majority financed by a £17 million term loan facility provided by the Bank of Ireland (Irish: BIR.IR - news) .
Oliver Slipper, Joint Chief Executive Officer, said:
"This is our first trading update since listing and we are delighted to report an excellent start to the year, with continued strong growth across all our businesses and geographies. We have signed up new partners, added further sporting content and broadened our reach, attracting on average over 100 million monthly sports fans to our various products and services.
Our unique business model, proven strategy and growing revenues give the Board full confidence that we will deliver strong full-year growth in-line with our expectations."
Enquiries:
Perform Group plc
Oliver Slipper
Telephone 0203 372 0600
Tulchan Communications
Stephen Malthouse
Telephone 020 7353 4200
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