Swift nabs ex-Googler to squeeze some advertising magic into streaming TV biz
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Mini TV streamer Swift Networks has acquired an ex-Googler to beef up its advertising revenue.
Google’s former Asia-Pacific marketing boss Lee Hunter will be in charge of launching advertising around the company’s content.
Swift (ASX:SW1) sells an entertainment platform offering TV, movies and apps such as Skype to “closed loop” businesses such as mining camps, hotels and aged care homes.
The client orders a certain type of content, be it Foxtel or a specific range of movies, and services like Skype, and Swift makes that available as a streaming service.
Swift plans to sell targeted advertising using customer data such as location, age, gender and content preferences.
Mr Hunter moved from Google to Tech Mpire (ASX:TMP) in 2017 as its CEO (on a $325,000 salary and a two-year term).
He resigned from that job in March citing the birth of his first child and the onerous travel requirements.
Swift made a $7.7m loss in 2018, up from $1.4m last year as employment costs, share-based payments, and fair value losses sent expenses up.
Revenue rose 44 per cent while board and executive pay rose to $2.2m on the back of $1.1m worth of share payments to CEO Xavier Kris and former CFO Paul Doropoulos.
Swift shares surged just before the preliminary results came out and have since declined to levels not seen since April 2017, hitting a 52-week low of 25.5c.