Major affiliate group XL Media is trading ahead of management expectations for the first six months of the year, with the company revealing that it is reducing the percentage of its revenues generated from gambling.
The Group has been working on its strategy of diversifying its revenue streams and says it has delivered strong organic growth across all business verticals.
Currently the Group derives 57% of its revenues from gambling, down from 70% in the first half last year, with the remaining 43% coming from non-gambling verticals including gaming, mobile applications, software, utilities, e-commerce and finance. The Board believes this is further evidence of the Group successfully delivering on its strategy to continue to diversify revenue sources and remains extremely confident in the performance of the business.
The diversification is manifest in the two acquisitions made during the period, the first being Clicksmob, a mobile performance marketing platform, and the second, Greedyrates.ca, one of Canada’s leading credit card comparison websites. Integration of both acquisitions is progressing according to plan with both acquisitions performing well and in line with management expectations. In addition, the recently announced acquisition of Securethoughts.com, a US cyber security comparison website, will add further diversification and US presence to the Group.
XL Media CEO Ory Weihs is speaking at the Betting on Sports Conference on 12-15 September on a panel entitled: Super Affiliates – Navigating the new business landscape – Sponsored by bet365. To find out more, click here.