Perform Group PLC PER Perform Group Plc Q3 Interim Management Statement

  Perform Group PLC (PER) - Perform Group Plc Q3 Interim Management Statement

RNS Number : 6761P
Perform Group PLC
29 October 2012




29 October 2012



Perform Group plc Q3 Interim Management Statement



Perform  Group  plc,  the  global  market  leader  in  the  distribution   and 
commercialisation of sports content across connected digital platforms,  today 
issues its  interim  management  statement  for the  three  months  ending  30 
September 2012 ("the period").



Highlights



· Year on year revenue growth of 44% to £39.5m (Q3 2011: £27.4m).



· £140m of revenue contracted for full year 2012 and £110m of revenue  for 
full year  2013.  (£98m of  2011  revenues and  £78m  of 2012  revenues  were 
contracted at the same point in time in 2011).



· Quarter on quarter revenue growth of 10%.



· ePlayer headline  quarterly sell  through rate of  41%, total  quarterly 
streams viewed 1.1 billion  and average monthly unique  users of 111  million. 
(Q3 2011: sell through rate of 19%, 985 million total streams and 86  million 
unique users).



· ePlayer to launch  in Q4 across over  100 Gannett-owned websites in  the 
US.



· Significant new domestic clip rights partnerships secured with NFL (USA)
and La Liga (Spain).



· Launch of eight  Omnisport regional feeds,  focused on regional  content 
and in six languages.



· Continued investment in Goal.com with six new editions launched,  mainly 
in Latin America.



Oliver Slipper, Joint Chief Executive Officer, said:



"We  are  pleased  to  report  that  our  strong  operational  and   financial 
performance has continued through Q3, which reflects the successful  execution 
of our growth strategy.  We have reported  substantial increases in  revenues 
and are making  significant investments  in additional  content, new  platform 
development and  international  opportunities  as we  build  the  business  to 
deliver long term sustainable  growth. We are on  track to deliver full  year 
2012 results in line with the board's expectations.



We are excited about our continued progress in the US market with deals signed
with Gannett and NFL which will increase our distribution network and  enhance 
our content offering.



Runningball and Mackolik  are included for  the first full  quarter and  their 
integration is progressing well.



As we look further out, our contracted revenues for full year 2013 are  £110m, 
which gives us confidence  that we are  on track to  deliver strong growth  in 
2013."









Conference call



A conference call for analysts and investors is being held today at 09:00

Dial-in: +44 (0)20 3140 0668

Passcode: 467062#



A replay facility will be available following the call for a period of 7 days

Replay dial-in: +44 (0)20 3140 0698

Replay passcode: 387761#



Enquiries



Perform Group plc

David Surtees

Telephone 0203 372 0600



Tulchan Communications

Stephen Malthouse

James Macey White

Telephone 020 7353 4200



Business Performance



Content Distribution



Year on year revenue growth of 47%  to £25.6m (Q3 2011: £17.4m) with a  strong 
performance across all products. Headline KPIs for the quarter:



· Watch&Bet licensees remained at 40 (30 September 2011: 34).



· 3,827 live  Watch&Bet events  streamed (Q3  2011: 3,256).  On track  to 
deliver 14,000 events in the full year.



·  Five  additional  Runningball   licensees  added  during  the   quarter 
increasing the total number of licensees who have taken the product during the
year to 44.



· 13,111 Runningball events delivered during the quarter. 



· Launch of eight  Omnisport regional feeds,  focused on regional  content 
and in six languages for the UK, Italian, French, German, Spanish, Australian,
Brazilian and Spanish speaking Latin American markets.



In addition, at period end the Group had 155 OMNISPORT licensees (30 September
2011: 93),  245 GSM  licensees (30  September 2011:  161) and  65  Watch&Trade 
licensees (30 September 2011: 47).



                                                                     

                                 Quarter  Quarter  Quarter  Quarter   Quarter
                                ended 30  ended 30 ended 31 ended 31 ended 30
                                September   June    March   December September

                                  2012      2012    2012     2011     2011

                                                                     
                                                      
Watch&Bet licensees at quarter
end                                40        40       38       35       34
Watch&Bet live events streamed
during the quarter                3,827    3,544    3,504    2,766     3,256
Runnningball licensees*            44        39
Runnningball events delivered*   13,111
Omnisport licensees at quarter
end                                155      152      126       97       93
GSM data licensees at quarter
end                                245      221      193      173       161
Watch&Trade licensees at
quarter end                        65        64       60       54       47



*RunningBall had 44 licensees during the nine months to 30 September 2012. In
the nine months  to 30 September  2011 RunningBall had  38 licensees. In  the 
quarter ended 30 September 2011 RunningBall delivered 10,319 events.



Advertising & Sponsorship (video)



Year on year revenue growth  of 56% to £2.8m (Q3  2011: £1.8m). Q4 on  track, 
with increasing revenues and improving sell through rates.



· Year on  year, total streams  had increased  by 8% and  streams sold  by 
129%.

· 16% quarter  on quarter decrease  in streams sold  primarily due to  the 
expected summer seasonality in UK and FIGS and a post Euro 2012 dip.

· Continued focus on improving monetisable stream inventory, in particular
across FIGS. As a result and due  to the low volume of football content  over 
the summer total streams reduced by 107 million.

· Norway launched.



Headline KPIs for the quarter:



                                                                      

                                  Quarter Quarter Quarter    Quarter   Quarter
                                   ended   ended   ended      ended     ended

                                  30 Sept 30 June 31 March 31 Dec 2011 30 Sept
                                   2012    2012     2012                2011
Number of territories               24      23       21        20        19


Total for all territories
Total streams (millions)           1,060   1,167   1,211      1,090      985
Total streams sold (millions)       431     512     341        378       188
Average  monthly   unique   users   111     114     105        94        86
(millions)
Sell through rate (%)               41%     44%     28%        35%       19%


United States and United Kingdom
Total streams (millions)            529     536     438        393       254
Total streams sold (millions)       314     370     257        279       147
Average  monthly   unique   users   50      51       45        37        27
(millions)
Sell through rate (%)               59%     69%     59%        71%       58%


FIGS
Total streams (millions)            159     278     362        363       407
Total streams sold (millions)       66      84       48        83        32
Average  monthly   unique   users   18      24       25        22        24
(millions)
Sell through rate (%)               41%     30%     13%        23%       8%


Rest of World
Total streams (millions)            372     353     410        334       324
Total streams sold (millions)       51      58       35        16         9
Average  monthly   unique   users   42      39       35        35        35
(millions)
Sell through rate (%)               14%     16%      9%        5%        3%





Advertising & Sponsorship (display)



Year on  year revenue  growth of  132% to  £4.4m (Q3  2011: £1.9m),  with  the 
majority of this growth due to the  acquisitions of Spox and Mackolik and  the 
continuing growth of Goal.com. Q3 revenues  were 14% down quarter on  quarter 
due to the one  off effect of  Euro 2012 in  Q2. Q4 has  started well in  the 
majority of territories. Headline KPIs for the quarter:



· An average 50 million monthly website unique users (Q3 2011: 25 million)
across the Group's wholly owned web display network.



· Mackolik  owned websites  delivered  an average  of 15  million  monthly 
website unique users across the quarter  compared to nine million in the  same 
quarter in 2011.



·  Continued  investment  in  Goal.com  with  six  new  editions  launched 
including Argentina, Columbia, South Africa and Mexico.



Subscription



Year on year revenue growth of 20% to £3m (Q3 2011: £2.5m). Headline KPIs for
the quarter:



· 453,000 subscribers  across the Group's  web TV, smartphone  application 
and SMS products (30 September 2011: 358,000). The Group had included  50,000 
Mackolik paying subscribers in the quarter.



                                                                      

                                      Quarter Quarter Quarter  Quarter Quarter
                                       ended   ended   ended    ended   ended

                                      30 Sept 30 June 31 March 31 Dec  30 Sept
                                       2012    2012     2012    2011    2011
Total web TV, smartphone application
and SMS subscribers at quarter end
(thousands)                             453     398     409      375     358
Livesport.tv channels live at quarter                                 
end
                                        37      33       31      29      26



Technology and production



Year on year revenue decline of 5% to £3.7m (Q3 2011: £3.9m). Q3 revenue  was 
slightly below management's expectation with  some contract slippage into  Q4. 
Significant new client wins  in the quarter included  beIN Sport France  with 
Perform building and supporting  their website, IOS apps  and mobile apps  and 
sports channel streaming services.





To assist in understanding these results included below are quarterly  revenue 
comparatives for 2011 and 2012 to date.



2012



                                         Quarter to Quarter to Quarter to

                                       30 September    30 June   31 March

                                              £'000      £'000      £'000

                                                                        
Content distribution                         25,606     21,215     19,393
Subscription                                  2,991      3,135      2,952
Technology and production                     3,722      2,885      3,110
Advertising and sponsorship (video)           2,768      3,558      2,709
Advertising and sponsorship (display)         4,413      5,148      3,258
Total                                        39,500     35,941     31,422



2011



                                 Quarter to   Quarter to Quarter to Quarter to

                                31 December 30 September    30 June   31 March

                                      £'000        £'000      £'000      £'000

                                                                             
Content distribution                 18,281       17,387     14,803     14,471
Subscription                          2,668        2,461      2,233      2,173
Technology and production             4,861        3,857      3,192      3,043
Advertising   and   sponsorship       2,735        1,799      1,377        882
(video)
Advertising   and   sponsorship       2,152        1,901      1,827      1,091
(display)
Total                                30,697       27,405     23,432     21,660



The above non-statutory consolidated revenue numbers have not been audited nor
reviewed by the Group's auditors, Grant Thornton UK LLP.





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSBXBDGXUDBGDL -0- Oct/29/2012 07:00 GMT