Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Snakk’s Q3 revenues mark record-breaking quarter

Snakk’s Q3 revenues mark record-breaking quarter
62% of last financial year’s revenues generated in the quarter, with modest profit made

AUCKLAND, New Zealand, 3 March 2014 - Snakk Media Ltd., (NZAX: SNK) is announcing a record-breaking third quarter, with unaudited revenues from 1 Oct to 31 Dec 2013 at $2,258,989, representing a 58% increase from the previous year’s third quarter revenues.

More than 90% of the company’s revenues are generated from its Australian operations; and when the impact of exchange rate fluctuation is removed from quarterly reporting, then year-on-year growth in AUD for the third quarter was 77%.

Notable milestones during this reporting quarter include:

• Snakk’s first “million dollar month” (December 2013),
• The biggest revenue-generating quarter in the company’s history,
• More than 60% of last financial year’s revenues generated in one quarter, and
• The first quarterly operating profit the company has made to date.

Snakk Group CEO Mark Ryan says:

“We saw unprecedented campaign volumes this quarter, with a number of premium brands working with us including Pepsi, MasterCard, McDonalds, Expedia, Samsung, ESPN and Vodafone. We experienced extremely strong year-on-year percentage growth in our first two quarters as the seasonally quieter trading periods picked up significantly.

“We also saw Snakk scaling commercially against the investments we’ve been making into our people, technologies and operations. This resulted in a modest operating profit during an exceptionally busy quarter. However, as we’ve indicated previously, growing the business is our priority over making a profit in these early days. For the foreseeable future we will continue to invest further into our longer-term capabilities and expansion plans.

“Our strategy hasn’t changed; we see a window of opportunity to build a valuable regional business over the mid-to-long term.”


Snakk appoints Group Commercial Manager

The company has also appointed Luke Williams into a new executive position of Group Commercial Manager, responsible for overseeing Snakk’s entire sales operations. Prior to joining Snakk, Luke was Digital Manager for News Corp’s The Australian, and before that led agency sales at Komli Media, which has a strong presence across Asia Pacific.
“Luke is a great talent and a win for Snakk,” says Mr Ryan. “He’s worked in major agencies and top-tier publishers, and knows our business well. He’ll be a strong driver of our ANZ growth, and will take us to the next level of performance with our agency and brand partners.

“It’s vital that we get the best people, partnerships and technologies in place locally before we enter new regions where there are hundreds of millions of smartphone users.”


Recent NZ mobile ad market spend

A recent report by the Interactive Ad Bureau (IAB) of New Zealand states that mobile ad spend for the fourth quarter of 2013 makes mobile one of the fastest growing categories, with spending on mobile devices jumping from $2.83 million in 2012 to $5.6 million in 2013. The report shows the amount spent on mobile advertising in New Zealand represents 1.2% of the total online advertising spend. In countries such as the US, eMarketer reports mobile ads represent nearly 23% of the total online spend.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news