Strictly and Squid Games boost Digitalbox guidance
By Sean Farrell
Date: Thursday 02 Dec 2021
(Sharecast News) - Digitalbox shares soared after the digital media group said annual results would beat expectations helped by interest in the TV shows Strictly Come Dancing and Squid Games.
Revenue and earnings in the year to the end of December will be "significantly ahead" of recently upgraded market estimates for £3.3m and £700,000 respectively, the company said.
Digitalbox shares leapt 55% to 10.84p at 09:10 GMT.
The owner of Entertainment Daily and the Daily Mash satirical site said trading was stronger than expected for all its brands in the second half. Revenue outperformed in a positive market for UK mobile advertising and was also boosted by strong viewer traffic.
Coverage of Strictly Come Dancing and I'm a Celebrity attracted readers to Entertainment Daily and reporting on Netflix's Squid Games brought readers to student news network The Tab, which Digitalbox bought in 2020. The Daily Mash's spinoff show Late Night Mash also debuted on the Dave TV channel.
"Digitalbox's strategic focus on creating compelling content optimised for mobile has delivered disproportionate growth in its advertising revenues owing to increased demand for high-quality mobile inventory," the company said in a trading update.
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