Record-breaking Q3 for theScore

Revenue, digital reach, social views all increase as subscription base grows and company prepares to launch betting business in the U.S.
theScore- Inc--theScore App Delivers 24-7 Football Coverage-

Mobile sports media company theScore reached record numbers of revenue, according to third quarter financial results released Wednesday, bringing in $8.5 million in revenue.

Results for the three-month period ending May 31 topped the reported $7.2 million revenue during the same period last year, growth the company said was due to “strong performances” in both Canadian and U.S. sales.

In terms of audience, theScore also saw significant growth. Average monthly user sessions on theScore app rose to 395 million during Q3, with users opening it on average, 102 times every month. A 161% increase in reach on social media translated to an average of 100 million users reached monthly. And, total video views topped out at 64 million, also setting a record of 188% growth year-over-year.

On YouTube, theScore’s e-sports channel is rapidly growing as video views reached more than 64 million, a 170% increase from Q3 2018. Some 125,000 subscribers were added during Q3 making for a total of 820,000 subscribers overall.

The success of Q3 aligns with the company’s planned launch of a mobile sportsbook in New Jersey, said founder and CEO John Levy. “theScore is going all-in on sports betting, and our established position as a leader in mobile sports makes this an incredible opportunity.”

The company did however, report an EBITDA loss of $1.1 million, credited to expenses incurred to launch the sports betting business.