Apr 9 2014, 7:52pm CDT | by Forbes
Toronto, Canada-based theScore, Inc. has released its Fiscal 2014 second quarter results, which reveal that the corporation behind theScore, a leading mobile sports app, is off to a great start in the new year. The corporation’s revenue for the 3 months ended February 28, 2014 was $1.9 million compared to $1.1 million for the same period the previous year, an increase of 73%. Revenue for the 6 months ended February 28, 2014 was $4.0 million compared to $2.6 million for the same period the previous year, an increase of 54%. Mobile advertising revenue for the 3 and 6 months ended February 28, 2014 increased by 143% and 112% respectively compared to the same periods in the previous year.
The healthy increases in revenue are likely a result of a combination of elements, including an expansion in theScore’s active users, more unique features surrounding major sporting events and advertisers becoming more comfortable with advertising in the mobile space.
Average monthly active users of theScore’s mobile platforms reached 5 million in Q2 F2014, an increase of 43% compared to the same period in F2013. Average monthly user sessions of theScore’s mobile platforms reached more than 155 million in Q2 F2014, an increase of 84% compared to the same period in F2013.
Former and new users were likely enticed by the plethora of new offerings on theScore’s mobile app. In the past year, theScore launched a ‘Feed’ feature within its iOS app, allowing users to create their own continuously updated stream of sports content, combining all the information on the leagues, teams and players the user is following in one place. It also introduced special features for this year’s NCAA Men’s Basketball tournament, including an “upset tracker,” which alerted fans through push notifications on their phones when a lower-ranked team was ahead at half-time, with 5:00 minutes left or at the end of a game.
“It’s events like [the NCAA Tournament] where theScore really shines,” said John Levy, Chairman and CEO of theScore, Inc. “Whether you’re following your teams through the bracket or just putting down the odd wager with a buddy, theScore’s mobile-first coverage of personalized news, scores and information is your perfect companion.”
The executives at theScore are trying to upend the way fans get their sports information on their phones. This is leading to more active users and intrigued advertisers. The consequence is an increase in revenue and more lofty projections.
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