- Update on MTG’s ongoing transformation – digital now accounts for 34% of group sales
- Enhanced disclosure for MTGx
- Launch of USD 30 million gaming investment fund
MTG’s group digital sales grew by 70% YoY to account for 34% of MTG’s total sales in Q3 2017, up from 21% in Q3 2016. The increase reflects MTG’s ongoing transformation into a leading global digital entertainer. Group Q3 digital sales do not include sales from the newly acquired Kongregate business, which will be consolidated in MTG’s Q4 2017 results for the period 1 August to 31 December 2017. MTG will now disclose its group digital sales on an annual basis.
MTG will also now disclose sales for each of the digital verticals within MTGx (esports, online gaming, digital video networks), as well as EBITDA for the MTGx segment. The new MTGx disclosure is available for the period Q1 2016 to Q3 2017 here and will be part of MTG’s quarterly financial disclosure.
Jørgen Madsen Lindemann, MTG President and CEO: “We are stronger than ever in our traditional markets, with exciting content that engages diverse audiences across multiple platforms and on every screen. At the same time, we are leading esports into the global mainstream, captivating hundreds of millions of online gamers, and creating video content that generates billions of views across the world.
“MTG’s expertise is in storytelling and we want our stories to be available everywhere. Our partnerships with content creators and distributors around the world, and the rapid growth of our digital products, clearly demonstrate the relevance of our stories and provide the basis for our long term profitable growth. This is why we are also launching a gaming fund to help nurture the next generation of digital entertainment experiences.”
Launch of USD 30 million gaming investment fund
MTG has launched an investment fund targeting minority investments in high-potential US and European online gaming businesses. The USD 30 million fund complements MTG’s larger scale acquisitions and will invest in five to 10 companies annually over the coming three years. Investments will be made in an early stage in companies that bring strategic value to MTG in the areas of online gaming, esports and gaming-focused virtual and augmented reality.
The agenda for today’s Capital Markets Seminar is as follows:
- MTG group strategy & financial review: Jørgen Madsen Lindemann (President & CEO) and Maria Redin (CFO)
- MTG Nordic Entertainment segment review: Anders Jensen (EVP; Chairman of the Nordic Entertainment Management Board & CEO of MTG Sweden) and Jakob Mejlhede Andersen (EVP; Group Head of Programming & Content Development)
- MTGx segment review: Arnd Benninghoff (MTGx, Games & Esports)
- Esports review by Turtle Entertainment (ESL): Ralf Reichert (CEO & Founder)
- Online gaming review by InnoGames: Hendrik Klindworth (CEO & Founder)
More information about the 2017 Capital Markets Seminar can be found here, including the presentations that will be uploaded from 13.00 CET.
NOTES TO EDITORS
MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
Download high-resolution photos: Flickr