Highlights

·          Subscriber sign-ups for the recently launched “HeroPlay” mobile casual gaming platform in Indonesia confirms strong consumer appetite for the product and revenue is starting to materialise

·          During an initial test period over the last 7 days, subscriber sign-ups have averaged approximately 280-300 per day

·          Initial marketing performance across paid and telco channels is outperforming industry benchmarks, including a CTR of 3.87% via Meta (vs 1.3% benchmark), supports confidence in the scalability of the acquisition model (see below)

·          Over the coming months, the Company’s focus will be on expanding distribution through existing telco partnerships, optimising retention mechanics and selectively scaling acquisition channels

·          Gross Subscription Value (GSV) per subscriber is expected to average between IDR40,000 (~A$3.60) and IDR75,000 (~A$6.75) per month, depending on subscribers choosing the daily, weekly or monthly options

·          Final margin to SportsHero after paying away partner share of revenue and other platform costs are expected to range between 35% and 85% depending on subscribers choice of channel partner (telco or direct) and payment method (Direct Carrier Billing – DCB or debit/credit card/e-wallet)

SportsHero’s CEO Tom Lapping said:

“I’m excited by these early results as we’re only just starting to scratch the surface.  The plan is to now dial up the marketing and expand our distribution channels, which based on this testing, should convert into substantial recurring revenue for the Company.”