Mobile Streams (MOS) announced that it has signed a major contract worth up to £480,000 over 4 years with Tappit Technologies (UK) ("Tappit") for the use of its Streams data platform.
The London-listed mobile content and data intelligence company said the contract, which has a minimum value of £10,000 per month for at least 6 months, will increase Streams' revenue to an estimated £0.035 million per month, an increase of around 300% since December 2020.
Mobile’s streams data business, which provides data insight, intelligence and visualisation services and marketing optimisation tools, achieved its first revenues in June 2020 while its streams SaaS self-service platform generated initial customer revenues in October 2020.
Global payment business, Tappit, provides proprietary contactless payment and fan experience ecosystems at sports and entertainment venues for clients in 20 countries.
Founded in 2018, with its headquarters in Leeds and offices in Dubai and Dallas, Tappit’s clients include brands such as Kansas City Chiefs, Jacksonville Jaguars, Learfield/IMG, F1, San Antonio Spurs, San Diego Padres, multiple music festivals and W Hotels Group.
Addressing shareholders, Nigel Burton, Non-Executive Director of Mobile Streams, commented, "We are extremely pleased to be able to announce this major contract. This is another important enterprise client win for the Streams data business which has shown exceptional growth since the start of the year. We look forward to working closely with Tappit."
Jason Thomas, Global Chief Executive Officer of Tappit, added: "We are delighted to have signed this contract with MOS - the partnership will enhance our ability to support our clients in leveraging their data to increase operational efficiency, security and revenues."
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In May 2021, Mobile Streams unveiled the launch of its next generation Streams content platform which the Group described as ‘a significant update’ to the Streams product portfolio.
At the time, the Company said the product upgrade was representative of ‘a major milestone’ for the business with its creation having been informed by user and customer feedback.
The company said this latest platform delivers a transformed user interface, increased functionality and a higher price point of £150 per month for additional functionality. With this recent launch MOS said it is delivering on its ‘aggressive development roadmap’ which proposed introducing additional functionally and price points throughout the year.
In particular, the company anticipates launching the Streams Data service in other key global markets during the year after recently launching the platform into the Chinese market, one of the largest e-commerce markets in the world, worth an estimated 1.5trn dollars annually.
Meanwhile, the company recently informed investors earlier this year that it has sufficient funds to cover the Company's working capital requirements for the foreseeable future.
Shares in Mobile Streams were trading 3.92% higher this morning following the news.
Mobile Streams is a mobile content and data intelligence company which operates globally through its subsidiaries in North America, Latin America, Europe and Asia Pacific.
The Board believes that the Streams data offering is the largest opportunity for the group to deliver growth in shareholder value via newly developed products and services. The main focus for the current year will be growing and developing the product and sales pipeline.
“The traditional content delivery side of the business still brings in ongoing revenue and therefore will be continued, however the majority of investment going forwards will be in growing the new data insight and intelligence business,” explained Chairman, Burton.
In March 2021, the company officially moved into the Chinese market with the launch of the Chinese language version of Streams, the first international language version of the service.
At the time, this move marked the first time MOS had launched an additional language version of the Streams platform. As outlined back in January this year, the Group said it anticipates launching the Streams Data service in other key global markets during the year.
Last month, MOS announced its entry into the Dutch market under a new partnership with Quanta Media Group which will see both parties utilise the Streams content platform to launch Quanta’s first three, direct to consumer, mobile content sites in The Netherlands.
Specifically, these sites will be targeted at customers wishing to place sports bets and play online casino games in the Dutch language in The Netherlands once the regulated Dutch i-Gaming market opens on 1 October. According to Quanta, starting October 2021, the Dutch i-Gaming lead generation market is estimated to be worth in excess of €200m per annum.
In particular, MOS outlined the Netherlands launch represents “a major milestone” in the MOS/QMG partnership and opens up opportunities for additional revenue for the group.
In addition, MOS highlighted to investors back in April 2021 that it continues to work with Quanta Media Group to identify opportunities to deliver new revenue sources for the Mobile Streams legacy business as well as assessing other opportunities for collaboration.
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