Netgem ended last year with 508,000 netgem.tv subscribers, managed on behalf of some 20 fixed telecoms operators in Europe, under the operator’s brand (B2B2C model).
This, according to the company, was 40% more than a year earlier.
Subscriber growth resulted in revenue and gross profit for the 2022 financial year rising to €36.3 million and €20.1 million, up 28% and 14% respectively compared to 2021. Total annual revenue from its streaming TV business amounted to €29.5 million, of which €14.4 million gave rise to recurring billing.
Netgem’s EBITDA was €6.8 million in 2022, up 59% on the previous year, and net profit €0.1 million, compared to a loss of €1.3 million.
Netgem.tv is a digital video entertainment platform aimed at families. Its services allow rights holders to enhance their content, and telecom operators to create or improve their entertainment service.
The platform offers content from around 100 French and international rights holders.
Commenting on the company’s results, CEO Mathias Hautefort said: “Netgem is positioned as a B2B platform for access to a family digital entertainment video offer at the right price. Our growth model is simple: More content on an innovative platform strengthens our proposition to our privileged distribution partners that are telecoms operators, attracting new content looking for new monetisation solutions. After a good year in 2022 and excellent prospects for 2023, the sale of our fibre business gives us the means to accelerate this virtuous circle”.