Shares of mobile content and data company Mobile Streams (LON: MOS) are rallying on Thursday after it revealed its LiveScore service in Mexico has exceeded its August subscriber target by 250%.
The company has over 3,500 people now signed up and estimates that the service in Mexico should generate at least $1.5 million over 3 years in additional revenue.
Customers are charged one dollar each week via their phone bill and then revenue is passed directly to Mobile Streams on 30-day terms from its Mexican telco partner Telcel.
“With a combination of a very easy sign on and billing process aligned with ever greater content delivered via our Streams platform and partnership with Quanta we estimate the number of subscribers and revenue growing significantly over the coming months,” the company stated.
The successful launch in Mexico has seen the AIM-quoted company discuss launching the service in additional markets over the coming months.
“We've been extremely pleased with the results to date. Although this is just the start, we believe this service will generate significant revenue for the business. Indeed the August launch figures alone are very impressive,” said Nigel Burton, Non-Executive Director of Mobile Streams.
The company's share price is currently trading at 0.258p, up 9.87%. It initially jumped to a high of 0.3p at the open.
Should you invest in Mobile Streams shares?
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