Growth in users and monetisation continues
Migme Ltd. (AX:MIG) is a global digital media company focused on emerging markets. By taking a different approach to the more established Facebook (O:FB), MIG believes its platform will have little competition for its freemium offering. User numbers and monetization rates continue to build with quarter-on-quarter cash receipts up 68.9% to A$3.7m. The successful capital raise of A$9.7m (A$1.00 per share) after costs has increased cash to fund market expansion to A$10.8m.
All metrics pointing in the right direction
Monthly Active Users (MAU) as calculated by Google (O:GOOGL) Analytics were >24m at 30 September 2015 – an increase of ~5m users in the quarter. User numbers and monetisation rates continue to build as the company adds more artists to its platform. At 30 September 2015 there were more than 490 artists and media relationships on the platform, up from 150 at 31 December 2014. From Q414 to Q315 the number of users has increased by 2.4x, while the cash receipts have increased by 6.6x, which demonstrates the acceleration of user monetisation rates. New market development has resulted in quarterly operating costs increasing 2.5x from A$3.3m to A$8.1m for Q414 and Q315.
To Read the Entire Report Please Click on the pdf File Below