The number of subscribers to technology and service provider Netgem’s content-as-a-service platform rose by 45,000 in the first half of the year to 320,000.
The company nevertheless posted a reduction in revenues of 4% to €14.7 million, attributed to significantly more terminals being delivered to subscribers in the first quarter of 2020 than for the same period this year.
Netgem posted EBITDA of €2 million for the first half, compared with a loss of €0.3 million last year. The company said that it now anticipated gross profit growth of 15% this year, up from the 10% growth previously predicted.
Netgem provides a mix of technology services, B2B2C and B2C services.
The group markets streaming video technology platform as-a-service to telecom operators and video publishers as NetgemTV. Use of the platform’s services is billed per subscribed end-user. Netgem markets either the platform on its own (B2B), or in conjunction with all or part of the video rights that make up the final service (B2B2C). In France, some subscribers are served as a direct-to-consumer service. Some contracts include the supply of a TV terminal, sold or rented to the partner operator.
Netgem has separately announced that its NetgemTV offering in the UK has passed the milestone of 200 channels available to customers, following the launch of additional sports and lifestyle channels.
Netgem has also partnered with UK broadcaster Channel 5’s Milkshake! Service to launch a kids hub.
Mathias Hautefort, CEO of Netgem, said: “Our business model has stabilized. We are growing with our existing customers and discussions are underway with other telecom operators or publishers of video streaming services. We are revising our objectives upwards and are now aiming for organic annual gross profit growth of close to 15% in 2021.”
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