Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mobile content services provider, Syntonic (SYT) has updated the market on its new business strategy
  • The company will start to focus on supporting content distribution and sales by the Syntonic Revenue Generation Platform
  • FOX Gol is currently the company’s most popular and largest revenue business
  • In just two months, FOX Gol sales represent 35 per cent of the content monetisation revenue
  • Syntonic remains steady and trading at 0.1 cents apiece

Mobile content services provider, Syntonic (SYT) has updated the market on its new business strategy.

In November, the company announced it will implement a new strategy and business that will focus on supporting content distribution and sales by the Syntonic Revenue Generation Platform (RGP).

RGP connects premium content to mobile subscribers for a low price and it generated a revenue of $6.1 million in the 2019 financial year.

“Syntonic’s strategy reorientation builds upon and leverages our existing technology investments and carrier relationships in underserved content markets, namely, Southeast Asia, Latin America, and Sub-Saharan Africa,” CEO Gary Greenbaum.

“We’ve seen growing validation of this strategy with the sharp growth in our FOX Sport Gol subscribers and with the strong interest we received from carriers and content providers worldwide to use the Syntonic RPG for content monetization,” he added.

In October the company signed an agreement with Fox Latin America Channel. Under that agreement, Syntonic has the rights to distribute and sell FOX Gol mobile content in Brazil and Mexico.

The FOX Gol app and website, managed by Syntonic, allows soccer fans to follow their favourite teams and leagues, through a subscription package that gives them access to videos and other content.

FOX Gol is currently the company’s most popular and largest revenue business. Since October, there has been a 20.3 per cent growth and 273,560 paid subscriptions in November.

In just two months, FOX Gol sales represent 35 per cent of the content monetisation revenue and 396 per cent of the RGP payment.

Fox Sports has been promoting the platform through television promotions and direct-to-customer smart messaging, in order to support and grow the subscriber base.

On market close, Syntonic remains steady and trading at 0.1 cents apiece.

SYT by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) sailing through COVID-19 storm unaffected

Appen (ASX:APX) has reaffirmed its yearly financial guidance and expects only a negligible impact from the…

" Appen (ASX:APX) downgrades earnings guidance as growth stutters

Machine learning and AI specialist Appen (ASX:APX) has downgraded its 2020 earnings guidance due to the…

" MSL Solutions (ASX:MSL) wins Stadiums Queensland contract

Sports, leisure and hospitality SaaS technology provider MSL Solutions (ASX:MSL) has signed a five-year contract with…