Gfinity (AIM: GFIN), a leading eSports business, is pleased to announce its full year results for the year ended 30 June 2015.
- Revenues increased by 163% to £560,828 (2014: £213,450)*, resulting from a mix of sponsorship, fees from game publishers, premium subscriptions and ticket sales
- Loss increased to £3.6 million (2014: Loss of £0.9 million)*, reflecting the planned investment made following listing in December 2014
- Net cash as at30 June 2015 amounted to £2.73 million (31 December 2014: £4.68 million; 30 June 2014: £591,275)
- Raised £3.5 million, before expenses, from AIM flotation at 17p per share in December 2014
- Entered into strategic collaboration with Vue Cinema (“Vue”) and opened the Gfinity Arena in London, the UK’s first dedicated eSports arena
- Registered user base on Gfinity.net increased from 43,000 as at 30 June 2014 to over 400,000 on 30 June 2015
- Exceeded target of 50 million on-line views for the 2015 Gfinity Championships
- In August 2014, staged third Gfinity branded event (G3) at the Copperbox in London’s Olympic Park. The largest eSports event ever staged in the UK – almost 4,000 spectators attended and 8.7 million online views from 25 countries over a single weekend
- In February 2015, staged European Call of Duty Championships on behalf of game publisher Activision at iconic Royal Opera House in London
- From March until September, launched the 2015 Gfinity Championships (a set of 23 weekly tournaments featuring the best players/teams in the world across 5 eSports titles)
- In April 2015, launched Xbox sponsored FIFA tournament, with qualifiers organised through Gfinity.net and live finals at the Gfinity Arena
Partnerships / sponsorship
- Signed a 2-year major sponsorship agreement with News Corporation for The Sun to become Gfinity’s newspaper and on-line news partner in the UK and Ireland
- Entered into a two-year sales and marketing contract with Pitch International (“Pitch”) for Pitch to package and sell sponsorship and broadcasting rights on the Company’s behalf
Neville Upton, Co-founder and Chief Executive of Gfinity plc, said: “It has been a transformational year for Gfinity in which we established a leading position within the eSports industry by building up our brand and delivering regular world-class eSports events to a global audience. The success of the 2015 Gfinity championships, attracting over 50 million online views and sell-out crowds, demonstrates our ability to provide sponsors and broadcasters with a level of regular top level eSports content that has not been available in the UK before.
“The sector continues to develop rapidly and offers exciting opportunities. Our ability to take advantage of these will depend on our funding and speed of revenue development through sponsorship and other forms of monetisation. We remain confident in our prospects and have launched a further round of funding to ensure that we have the short term resources to take advantage of these opportunities.”
A copy of the full audited annual report and accounts is available at http://www.gfinityplc.com/ and will be posted to shareholders shortly.