An update from MAG Interactive with regards to Covid-19
Number of active players increased during the month of March
Stockholm, Sweden - 1 April 2020 - MAG Interactive’s CEO Daniel Hasselberg comments on the situation in the following statement:
“Since the more dramatic development of the ongoing corona outbreak occurred after the end of the reporting period, we choose to comment on the effects on revenue and gaming activity during the month of March. We saw the clearest impact in the countries that enacted severe restrictions on social interactions during early or mid-March.
The number of daily installations has increased during the month of March, especially in Germany, Italy, and France. Combined with greater general activity in the player base, this has resulted in the average number of active users, DAU, increasing by over 25% at the end of the month, compared to the average in Q2. At the same time, ARPDAU has remained at a constant level, which has resulted in an increase in total daily income. Given the uncertain global situation, it is too early to say whether this level will be sustained or something that may change later in the quarter.
There are both risks and opportunities in a swaying advertising market. A large part of the company's revenue attributes to advertising, which entails a risk. At the same time, the company's opportunities to increase user acquisition can be improved in an environment with less competition for advertising space. Companies who are proficient at data-driven marketing and ad revenue optimization are well positioned when the market is changing at a rapid pace, and we carefully monitor the situation.
In this period of global adversity, our hope is that we can offer a moment of joy to those dealing with the effects of mandated physical isolation. Social and fun games that you can play with your friends, no matter where they are in the world, are something that many of us appreciate. We feel deeply for everyone who is affected or at risk of being hit by the corona virus in the future. Our focus right now is on ensuring the health and safety of our employees and taking responsibility for our society by working from home to the greatest possible extent.”
For additional information, please contact:
Daniel Hasselberg / CEO / +46 (0)8 644 35 40 / daniel@maginteractive.se
Magnus Wiklander / CFO / +46 (0)8 644 35 40 / magnus.wiklander@maginteractive.se
About MAG Interactive
Founded in 2010, MAG Interactive is a global developer of casual social games for smart mobile phones. The portfolio consists of games that have been collectively downloaded over 250 million times. From MAG’s diverse catalog of games, the most well known titles are Ruzzle, Word Domination, WordBrain and QuizDuel. Revenue is mainly derived from in-app purchases and advertisements. MAG has offices in Stockholm and Brighton and the company is listed on Nasdaq First North Premier Growth Market with the ticker MAGI. FNCA Sweden AB is appointed Certified Advisor to MAG Interactive. Email: info@fnca.se. Telephone: +46 (0)8-528 00 399. For more information visit www.maginteractive.com.
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