Digitalbox plc (AIM:DBOX, FRA:RLXB), the owner of Entertainment Daily, The Daily Mash and The Tab, raised its expectations for the year after a jump in first-half revenues.
“Although there remains some uncertainty in the second half of 2021 due to COVID-19, the full year 2021 outcome is anticipated to be materially ahead of market consensus,” said a statement from the AIM-listed group.
Demand for high-quality content is driving revenues higher, it said.
Entertainment Daily session values rose by 43% with ad unit prices up over 30% in the first quarter, while The Tab website users were up 15% to a total of 34mln for the period.
James Carter, chief executive, said the performance exceeded expectations with the group reaching profitability at profit after tax and EPS levels.
“The success is in part due to the latest addition to our stable, The Tab, validating our buy and build strategy.
“Our focus on mobile publishing has seen disproportionate growth in advertising revenues.
“Whilst the effects of COVID 19 still injects some uncertainty, the group is optimistic that the continued recovery in the advertising market will benefit revenue in the second half, traditionally the Group’s strongest trading period .”
Revenues rose by 37% to GBP1.3mln in the six months to 30 June 2021, with a pre-tax profit of GBP0.1mln.
“Trading has remained strong since the end of H1 2021, with the positive trend in the ad market continuing alongside some very strong traffic attached to some seasonal TV shows.”
