SportsHero says Indonesia strategy is paying off as user growth climbs
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Sports prediction app SportsHero (ASX:SHO) says things are going well with its push into the Indonesian market.
Last week, the company announced a revenue-sharing partnership with Indonesian media group MolaTV, which has exclusive broadcast rights for top-tier football competitions including the English Premier League.
As part of the deal, SportsHero said it would host a MolaTV page on OlahBola — its game-prediction app for Indonesian sports fans where users are ranked based on their level of success.
For all OlahBola users who sign up for a MolaTV subscription via the app, SportsHero will receive 10 per cent of the subscription fee, the company said.
The arrangement forms part of SportsHero’s broader strategy to build a broad user base of fans which can be monetised via licensing and commercial partnerships.
And this morning, SHO said the growth of its OlahBola user base is tracking ahead of schedule, with 1,299,874 signups so far.
The dedicated MolaTV page, with banner ads and video highlights, has also been set up and CEO Tom Lapping said the main goal — making money — is now in sight.
Along with strong growth in its user base, the company’s content partnership with MolaTV “puts us firmly on track to commence generating revenues within the next 6 weeks”, Lapping said.
The company also rolled out more content engagement platforms for its markets of “fanatical Indonesian football fans” on OlahBola, including written submissions that will be rewarded with either a cash or merchandise prize.
MolaTV, which is backed by the Indonesia’s billionaire Hartono family, has exclusive rights to broadcast English Premier League games in Indonesia through 2022.
MolaTV also has the rights to the 2022 FIFA World Cup and the 2020/21 Champions League competition.
Shares in SHO rose 11.3 per cent to 3.7c this morning, back near pre-pandemic highs and more than 10x above post-pandemic lows of just 0.3c.
The ~$14m market cap company is one of a number of ASX esports minnows that have booked strong returns in recent months — all of which have different strategies to try and capitalise on the multi-billion dollar global gaming market.