Viggle Reports Dynamic Growth, With Revenue Up 88%, Registered Users Up 42% In F2Q 2013 Results
(Symbol: VGGL), a free cutting-edge mobile app that operates an
intelligent “second screen” for television, today announced its results
for F2Q 2013 ending December 31, 2012, showing dramatic growth...
Viggle (Symbol: VGGL), a free cutting-edge mobile app that operates an intelligent “second screen” for television, today announced its results for F2Q 2013 ending December 31, 2012, showing dramatic growth in revenue and users. During the quarter, Viggle generated revenue of $3.875 million, an increase of 88% compared to $2.052 million in F1Q 2013. Viggle also experienced dynamic growth among registered users since its launch. Registered users reached 1.623 million as of the end of F2Q 2013, a 42% increase over the number of registered users at the end of F1Q 2013. That trend continued in January 2013, with another 14% giving Viggle 1.856 million registered users through the end of the month. Viggle is also seeing continued dramatic growth among monthly active users, increasing by a whopping 135% in just the past four months. The number has steadily accelerated from 233,607 in October 2012, to 369,630 in November, to 443,292 in December and hitting 548,529 in January 2013. Monthly active users are users who have earned or redeemed points, other than for registering, in the month. Viggle also announced today that it had secured a $25 million additional line of credit. Sillerman Investment Company II, LLC, an affiliate of Robert F.X. Sillerman, the Executive Chairman and Chief Executive Officer of Viggle, provided an additional line of credit to the company of up to $25 million, on February 11, 2013. “I’m happy to report our significant revenue growth and EBITDA improvements over the previous quarter,” said Greg Consiglio, President and COO of Viggle. “By securing the additional line of credit, we expect to continue to drive new product development enhancements and launch new customer acquisition and partner efforts that will allow us to drive the business forward.” “The exciting growth Viggle is experiencing made the decision to provide this line of credit an easy one,” said Sillerman. “These funds should provide the necessary capital to let us continue to invest in people and our product, while advancing us towards positive cash flow from operations by the end of 2013."