Business
Super League Gaming Reports Second Quarter 2020 Results
Revenues Up 45% Year-Over-Year; Gross Margins Rise Sharply on Surge in User Engagement SANTA MONICA, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Super League
About this update from Super League Enterprise, Inc.
[{"type":"text","content":"Revenues Up 45% Year-Over-Year; Gross Margins Rise Sharply on Surge in User Engagement\n SANTA MONICA, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- Super League Gaming (Super League or the Company) (Nasdaq: SLGG), a global leader in competitive video gaming and esports entertainment for everyday players around the world, reported recent operational developments and financial results for the second quarter ended June 30, 2020. Recent Operational Developments Reached milestone of one billion viewer impressions year-to-date across all platforms.Exceeded two million registered users.Powered an Apex Legends tournament and broadcast for Wounded Warrior Project (WWP), with donations made during gameplay supporting WWP programs.Partnered with USA Today Sports Media Group to produce esports tournaments, starting with Madden NFL 20. Key Performance Indicators (KPIs) Through July 31, 2020 Registered users – 2.1 million, up over 115% year-to-date, exceeding 2020 target.Engagement hours – 36 million vs.15 million for all of 2019, exceeding 2020 target.Viewer Impressions – 1.1 billion vs.120 million for all of 2019, more than double 2020 target. Management Commentary“Interactive gaming in general and esports in particular, continue to be a significant and increasingly important source of entertainment,” said Ann Hand, CEO of Super League. “While we are pleased to report that we have met all of our annual KPI targets halfway through the year, we are even more encouraged by our revenue growth and potential. The ad inventory that we have amassed along with an investment in our direct sales force are positioning us well to monetize a greater portion of our growing network capacity. In addition, we have advanced our content production and broadcast technology platform to not only enhance our ability to deliver high quality streams, but also create new business opportunities beyond esports. Furthermore, we are starting to gain traction with our direct-to-consumer offers. We will continue to invest in growing our audience and increasing our capability to support these diversified revenue streams, which we believe position Super League well in the current climate and beyond.” Second Quarter 2020 Financial ResultsRevenues in the second quarter of 2020 increased 45% to $324,000, from $223,000 in the comparable prior year quarter. The increase was primaril...