DGAP-News: Media and Games Invest plc
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Media and Games Invest plc: Well prepared for the crisis; operating gaming business in strong position to cope with high player numbers
20 March 2020 - Media and Games Invest plc ("MGI", ISIN: MT0000580101; Symbol: M8G; Basic Board, Frankfurt Stock Exchange), a fast and profitable growing company in the field of online games and digital media, sees the operation of online games secured despite strong customer demand. Especially in Italy and Spain, but now also increasingly in Germany and the USA, the company is registering many new players and increased activity by existing players. Since MGI has consequently switched from data centers to cloud in the past years, the company can react flexibly to a higher number of players and minimize possible server disturbances. "Although it is still too early to forecast a concrete impact on revenues and earnings from the Corona crisis, we expect growing revenues and earnings in the gaming sector based on the experience of competitors from China".
The Media and Digital Advertising segment is showing its added value for the games segment; customer acquisition is being intensified and marketing budgets for gamigo games are being increased. In addition, the optimization and integration of the media companies and in particular the recently acquired Verve assets are progressing well. The external media budgets show different developments: While the budgets of advertisers in the areas of offline trade and services are currently declining or have been suspended, the media activities of customers in the online segments are stable or are even showing significant growth - such as in gaming, e-commerce and online entertainment. Overall, MGI currently expects a further significant growth in sales in the media and advertising business for 2020 compared to 2019.
Since the beginning of the week, all MGI employees worldwide are working from their home offices. MGI has made great efforts in the last few weeks to prepare every employee to be able to work from home with almost full productivity during the crisis - even if it should continue for a longer period of time - including daily team meetings, adapted workflows and completely digitalized communication processes. As a digital company, we are used to working "remotely". Even if business trips, personal meetings with customers and upcoming events have to be postponed, we are technically best equipped to continue to enable close customer contact and to provide our products and services in the usual quality.
Remco Westermann, CEO: "We have invested significantly in digital transformation in recent years, especially in cloud systems and communication tools. These investments have now enabled us to react quickly to the new requirements of Corona. The operation and support of our games and media platforms is ensured and at the same time we will do everything in our power to help contain the spread of the virus and protect our employees".
In the coming weeks, we will publish further information about the operating business and our measures in connection with the Corona crisis via our social media channels on LinkedIn and Twitter as well as on our website and via our newsletter.
About Media and Games Invest plc:
20.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Media and Games Invest plc|
|St. Christopher Street 168|
|VLT 1467 Valletta|
|Phone:||+356 21 22 7553|
|Fax:||+356 21 22 7667|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Tradegate Exchange|
|EQS News ID:||1002719|
|End of News||DGAP News Service|