Digitalbox PLC Full Year Results for DPL and Trading Update (8186V)
April 11 2019 - 1:00AM
UK Regulatory
TIDMDBOX
RNS Number : 8186V
Digitalbox PLC
11 April 2019
11 April 2019
Digitalbox plc
("Digitalbox" or the "Company")
Full Year Results for Digitalbox Publishing Limited and Trading
Update
Performance of Entertainment Daily ahead of expectations
Digitalbox plc, the digital media business, today announces a
trading update and the audited results of its wholly owned
subsidiary, Digitalbox Publishing Limited ("DPL") for the year
ended 31 December 2018 ("the Period"). DPL operates the Company's
trading brand, Entertainment Daily.
DPL Results
The Board of Digitalbox is pleased to report that the
performance of Entertainment Daily during the Period was ahead of
market expectations. Strong advertising and audience growth in the
fourth quarter helped to deliver an underlying EBITDA[1] of
GBP433,000 and revenue of GBP1,988,533 for the Period.
Entertainment Daily produces and publishes online UK
entertainment news covering TV shows, showbiz and celebrity news.
Revenue is generated from the sale of advertising slots in and
around the content it publishes.
Trading Update
Following the Admission of the Company to AIM on the 28 February
2019, trading has been in line with management expectations. During
the first quarter of 2019, Entertainment Daily's audience and
revenue have continued to be strong.
Following the completion of the acquisition of the Daily Mash on
5 March 2019, the Company has been integrating the Digitalbox ad
stack into its operations. The Board is confident that once fully
integrated this will deliver improved results. Furthermore, the
Daily Mash's affiliate BBC2 show, The Mash Report, has been
nominated for the prestigious BAFTA Awards.
James Carter, CEO, Digitalbox, said: "The performance of
Entertainment Daily reinforces our belief that our focus on
optimisation for mobile enables us to achieve revenues per session
significantly ahead of the market norms for mobile publishers.
Mobile is the device of choice to access the internet with
advertising revenues increasingly following this trend.
"Furthermore, the assimilation of the Daily Mash onto our
platform will demonstrate our ability to integrate acquisitions
quickly and effectively. We are looking at a pipeline of
acquisition opportunities from the digital assets of traditional
publishers to pure play digital businesses. We will pursue those
that can be purchased, optimised and leveraged to create accretive
growth for shareholders to achieve our goal of creating a
market-leading, mobile-first digital business."
The parent company of DPL, Digitalbox Publishing (Holdings)
Limited ("DBPH"), was acquired by Polemos plc on 28 February 2019,
along with Mashed Productions, the owners of leading satirical
website, the Daily Mash. The acquisition of DBPH constituted a
reverse takeover pursuant to Rule 14 of the AIM Rules for
Companies. The combined entity was subsequently renamed Digitalbox
plc and its shares admitted to trading on AIM on 28 February
2019.
Enquiries:
Digitalbox Tel: 020 3757 6880;
James Carter, CEO c/o Newgate Communications
WH Ireland (Nomad) Tel: 0117 945 3470
Mike Coe
Chris Savidge
Leander Capital (Joint Broker) Tel: 020 7195 1400
Alex Davies
Hugh Kingsmill Moore
Peterhouse Capital (Joint Broker) Tel: 020 7469 0930
Lucy Williams
Newgate Communications (Financial Tel: 020 3757 6880; digitalbox@newgatecomms.com
PR)
Robin Tozer
Fiona Norman
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of enabling profitable publishing at scale on
mobile platforms. The Company's operating model has been developed
and refined since publishing operations began in December 2015
Through its trading brand "Entertainment Daily", Digitalbox
produces and publishes online UK entertainment news covering TV
shows, showbiz and celebrity news. Digitalbox generates revenue
from the sale of advertising in and around the content it
publishes. Entertainment Daily has c. 2.2 million unique users per
month, with 13 million monthly UK sessions. The Company's
optimisation for mobile enables it to achieve revenues per session
significantly ahead of market norms for mobile publishers.
In March 2019, Digitalbox acquired leading satirical website,
the Daily Mash.
[1] Excluding the discontinued USA operation, Digitalbox Inc
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END
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