Score Media and Gaming Inc has announced its financial results for the three and 12 months ended August 31, 2019, showing a record Q4 performance while also highlighting the significant cost of investment into the US sports betting sector.
Revenue for the three months ended August 31, 2019 was $6.4m compared to $5.1m for the same period last year, growth of 25% and a new record for Q4. Growth in revenue for the quarter was primarily the result of strong performances from direct sales in Canada and the US.
Revenue for the 12 months ended August 31, 2019 was $31.1m versus $27.7m year-on-year, marking growth of 12% and a new record for a fiscal year.
EBITDA loss for the three months, however, was $4.1m versus $2.4m year-on-year. The increase in loss was, said the firm, primarily the result of additional expenses relating to the ongoing development of theScore’s sports betting business. EBITDA loss for the 12 months ended August 31, 2019 was $6.5m versus $2.4m in the same period last year.
Founder and CEO John Levy said: “theScore Bet is live and taking bets in New Jersey, capping one of the most significant quarters and fiscal years in our history. Not only did we successfully launch our new sports betting platform in the fast-growing New Jersey sports betting market, but we also secured market access rights for an additional 11 states via a highly-coveted partnership with Penn National Gaming.
“Along with New Jersey, this provides us with potential market access to offer mobile sports betting to about 30% of the US population. We continue to explore strategic opportunities to bring theScore Bet to as many states as possible and are well capitalized to execute on our vision following the $40m strategic investment by Fengate.”
Levy concluded: “It was also a record Q4 for advertising revenue in our media business, powered by strong direct sales deals in the US and Canada, while records were also broken for Q4 engagement on our sports app as well as consumption of our esports and social content. The continued growth of our media business, combined with our unique and differentiated entry into the sports betting space, puts us in a strong position as we enter fiscal 2020.”
The company also added an insight into its audience metrics. It revealed that total average monthly active user sessions of theScore mobile app on iOS and Android reached 272 million in Q4 F2019, equal to year-over-year growth of 6% and a new record for Q4. This represents 75 app sessions-per-user-per-month on a base of 3.6 million average monthly app users.
theScore’s content on its social channels achieved an average monthly reach of approximately 142 million in Q4 F2019, year-on-year growth of 150% and a new quarterly record. Total video views of theScore esports’ content hit 85 million for Q4 F2019, ahead year-on-year by 157% and another new quarterly record.
Total watch minutes for theScore esports’ YouTube channel reached 384 million, marking year-on-year growth of 64% and a new quarterly record. An additional 146,000 YouTube subscribers were added during the period, with channel subscribers surpassing 950,000 earlier this month.