Join our daily newsletter At The Bell to receive exclusive market insights
- MGM Wireless (MWR) has reached a record number of subscriptions for its AllMyTribe phone app
- The app’s revenue hit $109,000 in December – a 30 per cent increase in just one month
- AllMyTribe is a safe, parent-controlled software for kids to use at school
- It has proven popular with families, becoming the number 1 grossing navigation app in Australia and New Zealand
- Despite the news, MGM is down 3.45 per cent with shares trading for 28 cents each
MGM Wireless’ (MWR) AllMyTribe phone app subscriptions reached a new record of $109,000 in December 2019, up threefold from December 2018.
The tech company is a trusted provider of communications and apps to schools.
The app allows parents to be in contact with their children and manage their location through the SPACETALK all-in-one smartphone, watch and GPS device.
“App revenue grew 30 per cent from November to December alone. App subscriptions provide high-quality recurring revenue for the company, supplementing SPACETALK unit sales,” MGM Wireless CEO Mark Fortunatow said.
App revenue for the six months to December 31, 2019 was $500,000 which is a 632 per cent increase on the previous corresponding period.
Currently, the AllMyTribe app is the top-grossing navigation app in Australia and New Zealand. It is also in the top 150 grossing apps overall in both of these markets.
The app includes features such as backup options, audio quality improvements, smart parent charging reminders, school mode algorithm, step counter accuracy, and more.
But, it seems the company have even more new and exciting in-app ventures planned for the future.
“Over time, we will be introducing in-app purchase opportunities for health, fitness, diet, parenting, entertainment feature and other Internet of Things (IoT) capabilities to connect to home and other devices,” Mark stated.
The AllMyTribe app is available through the Apple Store, and Google Play with ongoing subscriptions available from just $5.99 in Australia and £3.99 per month in the U.K.
MGM is down 3.45 per cent with shares trading for 28 cents each at 1:11 pm AEDT.
