Gfinity PLC (AIM:GFIN) extended its partnership with ad-tech group Venatus, which will continue to monetise the web platforms and direct campaigns for Gfinity Digital Media group (GDM).
The eSports company said GDM is the “foundation of Gfinity's financial model” with some £1.6mln of revenue generated by the business unit in the year ended June 30, up from £0.3mln the year before.
Gfinity said much of the growth was the result of a continued improvement of value per monthly active user (MAU). In the financial year MAUs averaged 10.7mln, generating 15.2p of revenue per user.
Venatus supports this growth by helping Gfinity ‘reach’ and engage with gamers across a range of devices. Alongside Venatus, the target for the ‘short-to-medium’ term is now to drive growth to 50mln MAUs, to generate some US$15mln of revenue per year.
"Successful partnerships with gaming experts such as Venatus are helping the GDM to go from strength to strength,” said Gfinity chief executive John Clarke.
“We look forward to finding new and innovative ways to authentically engage gamers, driving growth of owned and recurring revenue streams as we target ambitious expansion over the years to come.”
Clarke added: “We have confidence in our ability to scale both the number of users we attract and the revenue per user, due to the growth we have seen this year."
Venatus chief executive Rob Gay, meanwhile, added: "We're hugely proud of our ongoing and successful partnership with Gfinity and excited for the future innovations it will bring to Venatus' creative solutions and ad-tech platforms.
“This extension of our partnership is an opportunity to continue to provide gamers with unique and engaging experiences while driving growth and revenue for a world-leading gaming brand.
“Our team is excited and energised by the possibilities our partnership creates and we look forward to another successful year."