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Mobile Streams revenues weaken in Argentina

More than 40% now pay for premium subscriptions which carry around double the margin of standard products.
Mobile Streams revenues weaken in Argentina
Apps are Mobile Streams' business

Tough trading conditions in Argentina mean Mobile Streams' (LON:MOS) interim revenues will be half those of a year ago.

Visibility on trading in the second half for the media entertainment company was also not clear, the smartphone app specialist said, with costs being cut to maintain annual underlying profits [EBITDA] around break-even. 

Some progress is being made developing a paid subscriber base in Argentina, with more than 40% now paying for premium subscriptions that carry around double the margin of standard subscription products.

Around 90% of all new subscription acquisitions in Argentina are also premium subscribers.

Mobile Streams added it will update on how it is doing in other markets at its AGM next week.

Shares dipped 15% to 14.1p.

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