secures 500,000 subscribers

Netgem, the company behind digital entertainment platform has revealed by the end of 2022 it grew its subscribers base by 40% compared to the end of 2021, reaching over half a million. 

The VOD platform gained 508,000 subscribers according to its latest turnover report. While revenue and gross profit for the 2022 financial year reached €36.3 million and €20.1 million. This marks an increase of 28% and 14% compared to the 2021 financial year. The total annual revenue resulting from the streaming TV business produced €29.5 million, of which €14.4 millions give rise to recurring billing.

The company also reported EBITDA increased by 59%, from €4.3 million in 2021 to €6.8 million in 2022 which Netgem says is a result of the combined effects of gross profit growth and control over operating costs.

Mathias Hautefort, CEO of Netgem, “Netgem is positioned as a B2B platform for access to a family digital entertainment video offer at the right price. Our growth model is simple: More content on an innovative platform strengthens our proposition to our privileged distribution partners that are telecoms operators, attracting new content looking for new monetization solutions. After a good year in 2022 and excellent prospects for 2023, the sale of our fiber business gives us the means to accelerate this virtuous circle.”

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