TheScore posted big jumps in user numbers and revenue for its third quarter, with users and ad dollars both on the upswing.
Revenue for the quarter was $3.2 million, up 60% versus the same period in 2014. Advertising revenue in the third quarter jumped 73% compared with revenue from the same period last year.
Despite jumps in revenue, theScore posted a loss of $3.2 million overall, which is higher than last year’s $2.1 million for the quarter. Due to recent investments and acquisitions, it’s a trend that CEO John Levy says is likely to continue for the next five or six quarters.
“That is the stage we are at in the context of building this business. A lot of it has to do with the move into eSports and the acquisition and build out of the daily fantasy product,” he says. “We have done it before with the TV network, there were a bunch of years where we lost money, but we eventually became profitable and sold it for a chunk of change. Luckily we have enough cash in the bank to take us through the break-even position.”
TheScore saw a record 10.5 million monthly active users on its mobile platforms in the third quarter, with 4.4 million mobile app users and 6.1 million mobile web users, a jump of 91% versus the same period in 2014.
Average monthly users of theScore’s iOS and Android mobile apps increased 18% for the period compared with 2014. TheScore’s mobile web platform saw average monthly active users jump by 310% versus the same period last year.
The last quarter saw theScore continue to roll out its eSports arm, further expanding coverage of competitive gaming by adding live scores and stats for Dota 2 and Counter-Strike: Global Offensive.
Looking ahead, execs at theScore noted the upcoming relaunch of the recently acquired mobile-first daily fantasy sports game Swoopt. Levy says the app will be launched officially in the fall in line with the start of the NFL season, and will aim to bring back some of the fun he thinks has gone out of the season-long and daily fantasy sports landscape.
“When fantasy started it wasn’t about making millions of dollars, it was about playing with your buddies,” he says. “Ours will be a mobile game, it will be fun, fast and about challenging your friends.”
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