TORONTO – Score Media saw its first quarter revenue grow to $8.5 million from $7.0 million in the same period last year, powered by theScore’s Canadian and U.S. direct sales teams, as well as growth in engagement within theScore’s mobile apps.
A combination of an increase in revenue plus savings in expenses led to direct improvements in the company’s profitability for the quarter ended November 30, 2016, the sports digital media company said Thursday. Net and comprehensive loss for the three month period was $0.8 million compared to $3.1 million in the same period the previous year. EBITDA loss was $0.4 million versus $2.3 million in Q1 F2016.
Average monthly sessions of theScore’s mobile apps reached 459 million up from 414 million for year-over-year, with users opening its apps an average of 98 times a month each, a new quarterly record. Average monthly active users of theScore’s mobile apps were 4.7 million versus 4.8 million in Q1 F2016.
“Our proficiency in driving engagement and revenue from our existing user base means we will be able to consistently improve profitability”, said founder and CEO John Levy, in the news release. “Our priority now is focusing on audience growth, something we’ve been actively working on through an exciting new feature roadmap for our flagship app, while continuing to explore opportunities and strengthen our early foothold in new and exciting areas with high growth potential, like bots and esports.”
