Provider of digital sports news and data to North American sports bettors, theScore Inc has announced its financial results for the 12 month period concluding on August 31, 2018.
The supplier has benefited from the liberalisation of sports betting, with its total revenue for the year ending August 31, 2018 growing to $27.7m, as opposed to $26.3m in F2017.
Additionally, the group’s revenue for Q4 F2018 elevated to $5.1m versus $4.8m in the same period the previous year.
EBITDA loss for the year improved to $2.4m compared to a loss of $5.9m in F2017. EBITDA loss for Q4 F2018 was $2.4m, compared to a loss of $1.9m for the same period the previous year. EBITDA loss in Q4 was, said the firm, due to a combination of increased facilities, administrative and other expenses, including expenses relating to US sports betting business development activities, as well as advertising sales for the quarter which, despite year-over-year growth of 6%, were below expectations.
Company founder and CEO John Levy commented: “This was a very strong quarter for audience growth for theScore, with positive app user numbers supported by record-breaking reach across our social and emerging platforms. Our esports content also reached new heights, smashing through 400,000 subscribers on our YouTube channel and more than doubling total video views in one year – a testament to the incredible content being produced every day.
“On top of this, we continued to pursue opportunities relating to the legalisation of sports betting in the United States. We see exciting near-term and long-term opportunities for theScore thanks to the unique advantages of our large and engaged audience and our expertise in delivering great mobile sports experiences.”
Monthly active users of theScore mobile app on iOS grew by 12.5% in Q4 F2018 compared to the same period the previous year, including growth of almost 17% in July, driven in part by theScore’s coverage of the 2018 FIFA World Cup.
As a result, total average monthly active users of theScore mobile app grew by 5% to 3.7 million in Q4 F2018 versus 3.5 million for the same period in F2017, with iOS growth partially offset by lower monthly active users on Android. Total average monthly app sessions per user for theScore app on iOS and Android for Q4 F2018 were 70 compared to 73 for the same period last year.