eSports Mogul (ASX:ESH) posts 226pc revenue increase

• Pure-play online platform eSports Mogul (ESH) has more than doubled revenue in its first half-year report of 2020
• The company generated $161,242 in revenue for the six-month period, a 226 per cent increase on 2019’s corresponding period
• The increasing revenue led to improving losses, as the company’s loss after tax fell to $2.2 million, compared to a $2.8 million in 2019’s first half
• The impressive growth was primarily attributed to the launch of the company’s Age of Empires II competition across Asia
• ESports Mogul (ESH) closed in grey for 1.5 cents per share

Pure-play online platform eSports Mogul (ESH) has more than doubled revenue in its first half-year report of 2020.

The company generated $161,242 in revenue for the six-month period, a 226 per cent increase on 2019’s corresponding period. 

The increasing revenue led to improving losses, as the company’s loss after tax this year reached $2.2 million, compared to a $2.8 million in 2019’s first half.

The impressive growth came primarily from an expanded competition offering, which included the launch of an Age of Empires II competition across 10 countries in the Asia-Pacific market.

The retro real-time strategy game, first released in the 90’s, still enjoys a huge player base, and most pleasingly for the company, does not come with a heavy licensing fee.

Esports Mogul launched the tournament in partnership with the games publisher Microsoft and received approximately $96,430.

Microsoft is using the Age of Empires tournament to trial Mogul’s localisation software, which allows users to play and interact with other users within their native language.

Once the trial is complete eSports Mogul hopes to see its language technology roll out across other tournaments.

However, following the onset of COVID-19, in-person tournament industry has been hit hard, causing eSports Mogul to shift direction to online-services, promoting its strong marketing and branding platform package to hosts and promising to significantly reduce the cost of administration.

ESports Mogul (ESH) closed in grey for 1.5 cents per share