New interactive strategy pays off for NetPlay TV
GAMING firm NetPlay TV yesterday said its losses had narrowed over the past year as its strategy of chasing the live gaming market started to pay off.
NetPlay posted a £1m pre-tax loss for the year to December, compared with a £4.4m loss the previous year. Revenue soared by 118 per cent to £19.8m.
“The belief that in time consumers would firstly demand a ‘live’ gaming experience on their PCs and secondly would want interaction through their mobile phone is beginning to prove correct,” said non-executive chairman Clive Jones in a statement yesterday.
“We predict this demand will continue to grow as internet connectivity speeds become faster,” he added.
NetPlay, which transformed itself from a mobile content business to an interactive TV gaming firm in 2007, said it had made a number of acquisitions throughout the year, underpinning this belief.
It also won a lucrative four-year contract to produce the Challenge Jackpot show for Virgin Media Television, a move it described as a “key milestone” for the business.