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Bango PLC reports developments tied to subscription bundling, digital-service distribution and its Digital Vending Machine® platform. Company updates focus on partnerships with subscription providers, deployments with telcos and other resellers, subscription hubs, and the addition of services such as streaming, AI, and professional-network subscriptions to bundled offers.
Bango news also includes full-year results and operating commentary for its Payments and Subscriptions segments, recurring revenue metrics, and consumer research on subscription behavior. The company's releases commonly connect reseller channels such as telcos, banks and retailers with content and software subscription providers seeking broader distribution.
78% of subscription users demand a single app to manage all their subscriptions, encompassing services like TV, music, gaming, and fitness. A survey reveals that 72% feel overwhelmed by the sheer number of subscription services available. Despite this, 63% are willing to pay for more subscriptions if bundled into a centralized platform. Many users struggle with managing personal details, accessing accounts, and understanding their total monthly expenses, often leading to online piracy. Bango aims to address these challenges with its Offers on Demand technology to facilitate 'superbundles'.
Bango (AIM: BGO) reported its interim results for 1H22, showing a 9% revenue growth to $10.79M, with Annual Recurring Revenue skyrocketing to $3.41M. End User Spend rose by 16% to $2.09B. The company signed a crucial deal with T-Mobile US, expanded partnerships with major merchants, and acquired DOCOMO Digital for €4M, expected to contribute $5M in 2022 revenue. Bango’s CEO expressed optimism for future growth, anticipating a significant increase in revenue in the years ahead, with a projected $16M annual contribution from the acquisition.
Bango has acquired the global payments business of NTT DOCOMO, enhancing its position as a leading payments platform. The acquisition adds $3.5B in annual end-user spend and is projected to generate an additional $16M in revenue per year. Bango will expand its partnerships with major customers like Amazon and Google while adding new merchants, including Shopify and Paramount+. The total acquisition cost is €4M, funded by existing cash. Despite anticipated restructuring costs impacting profitability by $30M-$35M in FY2022, the company expects long-term earnings accretion.
Bango has partnered with TelevisaUnivision to license its platform for the new OTT subscription service, ViX+. This agreement allows the service to be bundled and distributed by various telcos and retail partners globally. TelevisaUnivision reaches 97% of Hispanic households in the USA and offers over 50,000 hours of original Spanish-language content. Bango's technology enhances the distribution of OTT subscription services, providing real-time capabilities and valuable market insights for targeted promotions.
Bango's App-ocalypse Report highlights significant challenges marketers face due to new ad regulations and privacy changes. The study reveals that 59% of marketers have experienced revenue losses following updates like Apple's IDFA changes and Google's removal of third-party cookies. 64% express concern over these implications for user acquisition, while 61% report anxiety regarding their strategies. The report emphasizes the need for innovative, compliant targeting solutions to engage paying customers in a privacy-conscious market.
Bango has partnered with McAfee to utilize its e-distribution technology, aiming to expand McAfee's global user base. This agreement allows service providers such as telcos, banks, and retailers to bundle McAfee subscriptions, enhancing user protection. Bango's technology streamlines the process of product promotion and sales across diverse channels. The partnership is positioned to support McAfee's growth strategy while offering consumers added security and convenience through bundled services. This collaboration highlights Bango's role in driving digital commerce and improving customer experiences.
Bango (OTCQX: BGOPF) has announced a new agreement with T-Mobile US to enhance their third-party services using the Bango Platform. This partnership allows T-Mobile to quickly expand value-added service offerings, ultimately providing customers with more choices in subscription products. By standardizing on the Bango Platform, T-Mobile aims to improve customer engagement and satisfaction with a diverse range of digital services. This agreement positions Bango technology to serve a significant portion of U.S. telco customers, highlighting the importance of digital bundling in telecom.