TIDMMOS

RNS Number : 1356A

Mobile Streams plc

22 December 2017

Mobile Streams plc

("Mobile Streams" or the "Company")

AGM Statement

At its Annual General Meeting which is taking place today at 9am at the offices of Grant Thornton UK LLP at Grant Thornton House, 30 Finsbury Square, London, EC2P 2YU, Mobile Streams will provide the following update to its shareholders:

"In India, Mobile Streams is gradually establishing itself in the market by working with the majority of telecom operators and forming relationships and partnerships with a number of the industry's leading players.

Mobile Streams now has direct carrier billing with five of the leading six Indian telecom operators so that it can bill its mobilegaming.com games service conveniently and easily. Four of these connections are live and one is currently in the integration phase.

At an industry level, whilst Reliance Jio's launch in September 2016 was widely expected to shake up the market, the scale of disruption has taken many by surprise. Operator revenues have fallen quarter on quarter across the board and consolidation has taken place (Tata and Telenor are exiting India and Vodafone is merging with Idea). Reliance Jio has now acquired approximately 150m subscribers in 12 months, initially through the free voice, cheap data packages, retained though the ongoing cheap high-speed data connections.

For 2018 and beyond, the Company's primary focus is ensuring that our net revenues exceed our marketing expenses for each of our key relationships and so we are reviewing the way in which we pay for advertising so as to ensure that it is as linked to successful customer acquisitions as possible.

We are also working closely with key players in the industry who have vast experience and a history of success in the Indian market.

In Argentina, revenues have been steady for the past few months. Our current portfolio of products include a HTML5 games portal and glamour and fashion sites among the premium ones, while we keep the legacy applications and content downloading products too, while moving all the base to premium subscriptions to increase our overall revenue shares."

Enquiries:

 
 Mobile Streams plc                   +1 347 669 9068 
 Simon Buckingham, Chief Executive 
  Officer 
  Enrique Benasso, Chief Financial 
  Officer 
 
 Nplus1 Singer Advisory LLP 
  Nominated Adviser and Broker        +44 (0)20 7496 3000 
 Alex Price 
 Alex Laughton-Scott

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMUAUNRBKAUUAA

(END) Dow Jones Newswires

December 22, 2017 02:00 ET (07:00 GMT)

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