Business
Full Year Results for DPL and Trading Update
Full Year Results for DPL and Trading Update.
About this update from Digitalbox Plc
[{"type":"text","content":"\n \nRNS Number : 8186V Digitalbox PLC 11 April 2019 \n\n11 April 2019\nDigitalbox plc\n(\"Digitalbox\" or the \"Company\")\n \nFull Year Results for Digitalbox Publishing Limited and Trading Update\nPerformance of Entertainment Daily ahead of expectations\nDigitalbox plc, the digital media business, today announces a trading update and the audited results of its wholly owned subsidiary, Digitalbox Publishing Limited (\"DPL\") for the year ended 31 December 2018 (\"the Period\"). DPL operates the Company's trading brand, Entertainment Daily.\nDPL Results\nThe Board of Digitalbox is pleased to report that the performance of Entertainment Daily during the Period was ahead of market expectations. Strong advertising and audience growth in the fourth quarter helped to deliver an underlying EBITDA[1] of £433,000 and revenue of £1,988,533 for the Period. \nEntertainment Daily produces and publishes online UK entertainment news covering TV shows, showbiz and celebrity news. Revenue is generated from the sale of advertising slots in and around the content it publishes. \nTrading Update\nFollowing the Admission of the Company to AIM on the 28 February 2019, trading has been in line with management expectations. During the first quarter of 2019, Entertainment Daily's audience and revenue have continued to be strong. \nFollowing the completion of the acquisition of the Daily Mash on 5 March 2019, the Company has been integrating the Digitalbox ad stack into its operations. The Board is confident that once fully integrated this will deliver improved results. Furthermore, the Daily Mash's affiliate BBC2 show, The Mash Report, has been nominated for the prestigious BAFTA Awards.\nJames Carter, CEO, Digitalbox, said: \"The performance of Entertainment Daily reinforces our belief that our focus on optimisation for mobile enables us to achieve revenues per session significantly ahead of the market norms for mobile publishers. Mobile is the device of choice to access the internet with advertising revenues increasingly following this trend. \n\"Furthermore, the assimilation of the Daily Mash onto our platform will demonstrate our ability to integrate acquisitions quickly and effectively. We are looking at a pipeline of acquisition opportunities from the digital assets of traditional publishers to pure play digital businesses. ...