Shares of mobile content and data intelligence company Mobile Streams (LON: MOS) are down over 6% Thursday despite the company telling investors that downloads and revenue for its LiveScores service in Argentina are significantly higher than expected.
At the time of writing, Mobile Streams shares trading around the 0.483p mark.
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The LiveScores Argentina service has generated over $14,000 in revenue from the approximately 6,000 downloads in October. Current downloads for the service are about 10,000, according to Mobile Streams.
The higher than expected revenue has arisen from a greater take-up than Mobile Streams had anticipated.Â
Income is generated for the company through a mixture of affiliate revenue share with Quanta Media Group (QMG) and subscription payments via the current Mobile Streams billing contract with Movistar. The company said it estimates that the majority of revenue generated from the Argentina service will be from affiliate revenue share.Â
Nigel Burton, Non-Executive Director of MOS, said: “We are very pleased to be delivering these initial revenue figures for our first month operating LiveScores in Argentina. They prove the model we have works well and that the revenue follows the downloads. MOS and Quanta are working extremely well together and we look forward to continuing and deepening our collaboration.”
The company has seen rapid subscriber growth in other countries such as Mexico, and recently announced the launch of the service in Brazil.
Should you invest in Mobile Streams shares?
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