- Emerge Gaming (EM1) has hit 50,000 subscribers for its newly-launched Miggster mobile gaming tournament platform
- This comes just a month after the launch of the Miggster platform, which generated some 7.5 million pre-registrations
- Emerge, however, has not announced what kind of revenue is associated with these subscriber numbers
- Still, Emerge is expecting these subscriber numbers to double in coming months thanks to a deal with controversial marketing company Tecnología de Impacto Múltiple (TIM)
- Under the deal, TIM guaranteed at least 100,000 subscribers within six months from launch
- Over the weekend, TIM revealed that its CEO, Swedish businessman Johan Staël von Holstein, abruptly resigned on November 23 due to alleged health reasons
- Johan also stepped down as CEO of TIM’s affiliate companies, Impact Crowd Technology and Crowd1
- Shares in Emerge are trading 9 per cent lower this afternoon at 9.1 cents each
Emerge Gaming (EM1) has hit 50,000 subscribers for its newly-launched Miggster mobile gaming tournament platform.
It comes exactly one month after the platform was launched on November 14, 2020. Prior to the Miggster launch, Emerge was touting some 7.5 million pre-registrations for the gaming platform.
While it was never confirmed how many of these pre-registrants were expected to convert into paying subscribers for the platform, the 50,000 subscribers translates to a conversion rate of around 0.67 per cent.
Nevertheless, Emerge is expecting to double this figure over the next few months; under the company’s deal with controversial marketing company Tecnología de Impacto Múltiple (TIM), Emerge has been guaranteed at least 100,000 paying subscribers within the first six months of Miggster’s launch.
Over the weekend, TIM revealed that its CEO, Swedish businessman Johan Staël von Holstein, abruptly resigned on November 23 due to alleged health reasons. Johan also resigned as CEO of TIM’s affiliate companies, Impact Crowd Technology and Crowd1.
Emerge did not speak to this in its announcement to shareholders today.
Further, while EM1 said almost three-quarters of all Miggster subscriptions sold to date are annual subscriptions, the company did not say what kind of revenue is associated with today’s subscriber numbers.
So far, around 37,500 Miggster subscriptions are annual, 5000 are bi-annual, and 8000 are monthly.
Emerge said it is encouraged by the Miggster growth so far and will continue to report on subscription growth and other key metrics as they are made clear.
Shares in Emerge are down 9 per cent at 2:07 pm AEDT and trading at 9.1 cents each. The company has a $72.5 million market cap.