Gfinity (GFIN ) has today announced the launch of Only Mobile Gaming! (OMG!), a dedicated mobile gaming website and the latest addition to the Gfinity Digital Media group (GDM).
The esports and gaming solutions provider told investors that OMG! will cover the latest news, features and entertainment-based content across the mobile gaming sector, including some of the world's biggest games such as Clash of Clans, Pokémon Go and Call of Duty.
Gfinity explained that GDM, the group’s publishing platform, has deployed a new in-house team dedicated to integrating and growing the website within the wider group network.
Following the launch, GDM will leverage Gfinityesports.com's strong domain authority and existing user base including one million users who read about mobile gaming every month.
The site is expected to benefit from GDM's recent series of strategic ad partnerships, including the expansion of its relationship with Venatus, aimed at promoting user numbers and monetising GDM's web platforms via on-site advertising and branded deals.
Gfinity said mobile gaming has proven ‘particularly resilient’ over the past year with revenue growing over 25% in 2020, the biggest increase across all gaming segments. It added that this area is expected to continue to be the fastest-growing segment over the coming years.
"GDM is a key strategic pillar of growth for Gfinity. Having a strengthened and dedicated position in the popular mobile gaming space is key to accelerating its expansion.
With mobile forecasted to generate $90bn in 2021 - over half the global games market - we expect OMG! to become one of GDM's fastest growing sites, providing strong commercial opportunities. As we look to add more sites through organic growth and acquisitions, GDM will continue to drive strong financial performance across the group,” said CEO, John Clarke.
View from Vox
Today’s news presents an opportunity for further expansion for Gfinity’s publishing platform GDM, which is a key strategic pillar of growth for the group. Gfinity said it expects OMG! to become one of GDM’s fastest growing sites while also providing commercial opportunities.
Gfinity’s recent 1H21 results highlighted the improved financial trading during the six-month period following the news that it had recorded its first ever quarterly positive adj EBITDA.
Shares in Gfinity have increased by over 20% in value since the beginning of 2021. The stock was trading 0.52% higher at 4.85p following this morning’s announcement.
Reasons to GFIN
The esports industry represents an exciting investment opportunity for Gfinity which is the only established UK listed company in the esports sector. In 2018, global esports revenue grew by 38% in value, with a projected esports market value of $1.5 billion by 2020.
In November 2020, Gfinity launched a formal sales process as part of a strategic review which it said will help it continue its pathway towards profitability forecasted for 1Q21.
Gfinity has seen three major progressions with regards to joint ventures and partnerships, including partnerships with BT Sport, ViacomCBS and Abu Dhabi Motorsport Management.
The group said it is on track to deliver target revenues for this financial year of around £2m, leading the Company towards its maiden profit. GFIN is currently technically in an offer period post the announcement of its strategic review on 9 October 2020.
‘While the Company continues on its current pathway towards sustainable profitability, at this point in time it is important to all its stakeholders to ensure that it has explored all strategic options to capitalise on the potential market opportunity,’ GFIN noted.
Follow News & Updates from Gfinity here: