STOCKHOLM, Oct. 17, 2018
STOCKHOLM, Oct. 17, 2018 /PRNewswire/ -- COMMENT FROM DANIEL HASSELBERG, CEO
Revenue growth thanks to new games- "Revenues in the reporting period June-August increased compared to the previous quarter thanks to our two new games Paint Hit and Word Domination. During the reporting period we saw an average of 15 million active players on a monthly basis, which is up significantly compared to the previous quarter and more than double the amount compared to the same period previous year. The contribution from games increased 20% compared to previous year.
During the reporting period, we were able to significantly increase our investments in marketing compared to the previous quarter thanks to our new games, which in the short term puts pressure on the profit margin. As we are applying our ROI focused and data driven performance marketing models we expect good returns on these investments over time.
The main focus for MAG is to create games with strong long term player commitment. Our multiplayer games Ruzzle, Quiz Duel and Word Domination are all great examples of games that are able to create robust underlying profitability over a long period of time. While the recent quarters have shown declining revenues from our single player games due to difficulties in maintaining marketing volumes, it is positive to see that our multiplayer portfolio has continued to develop favorably. Multiplayer and strong social game design are the keys to success for MAG both historically and in the future."
SUMMARY OF THE PERIOD JUNE UNTIL AUGUST 2018
SIGNIFICANT EVENTS SINCE THE END OF THE REPORTING PERIOD
Full interim report is available at http://www.maginteractive.com/investor-relations/.
Further reporting dates
Annual General Meeting 18 December 2018
Interim report September-November 2018/2019 23 January 2019
Interim report September-February 2018/2019 10 April 2019
Interim report September-May 2018/2019 26 June 2019
Interim report September-August 2018/2019 23 October 2019
The 17th of October at 10:00, CEO Daniel Hasselberg and CFO Magnus Wiklander will hold a Twitch video cast call to present the interim report. Link to the Twitch feed www.twitch.com/maginteractive. More information is available at www.maginteractive.se/investor-relations.
This announcement contains inside information pursuant to Article 7 of the EU Market Abuse Regulation relating to MAG Interactive AB (publ). The information was submitted for publication through the agency of the contact persons set out below, on October 17th, 2018 at 08.00 CET.
About MAG Interactive
MAG Interactive is a leading developer and publisher of casual mobile games for a global audience. MAG Interactive reaches over 10 million active players every month and the game portfolio consists of ten successful games with over 250 million downloads, including successful titles Ruzzle, Word Domination and WordBrain, all of which have reached #1 spots on the App Store and Google Play. With offices located in Stockholm and Brighton, MAG Interactive's games are distributed through virtual app stores allowing for global reach with minimum effort. MAG Interactive is listed on Nasdaq First North Premier with ticker MAGI. Avanza Bank AB is acting as MAG Interactive's Certified Adviser. For more information visit www.maginteractive.com
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The following files are available for download:
MAG Interactive AB Interim report Sep 2017-Aug 2018
MAG Interactive AB Interim report Sep 2017-May 2018 Press Release