Netgem sees revs fall in third quarter | IPTV | News | Rapid TV News
By continuing to use this site you consent to the use of cookies on your device as described in our privacy policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them. [Close]
As it keeps on with its corporate transition that involves a strategic refocussing, Netgem has reported a challenging Q3 2018 with revenues and subs falling noticeably on a yearly basis.
netgem soundbox 18may2018

For the quarter ended 30 September 2018, Netgem announced consolidated revenue of €7.9 million and a net revenue of € 4.0 million, bringing consolidated revenue and net revenue for the first nine months of 2018 to € 31.0 million and € 15.0 million respectively. These represented year-on-year falls of 36% as regard revenue and 23% in net revenue.

This level of revenue, admitted the company, confirmed the trend of the first semester with set-top-box sales well below the levels that Netgem anticipated by especially in markets outside Europe.

Yet Netgem did point to some rays of light. It noted that in the UK market, its service offerings were broadening and diversifying their distribution, particularly in the form of new partnerships with Gibtelecom (Gibraltar) and mobile operator Three UK. The new generation of the service, allowing multi-screen access and Ultra HD content support will be launched before the end of the year. Netgem also claimed strong business in France with subsidiary Vitis which recently finalised a new financing round of € 4 million subscribed at 50/50 by Caisse des Dépôts and Réunicable.

Yet given its and in what it says is the context of its strategic plan for 2019-2020, the company said it was planning to readjust its investments between its OTT service business and its activity in sales of set-top-boxes.