Movers and SHAKERS
Tuesday December 10, 2019
Music To Our Ears
Akazoo is a global, on-demand music and audio streaming and media and AI technology company, founded 2010, with a focus on emerging markets and a presence in 25 countries. Akazoo's premium service provides subscribers with unlimited online and offline high-quality music streaming access to a catalogue of over 45 million songs on an ad-free basis. Akazoo uses patented AI for music recommendations and offers online and offline listening. Akazoo's free, ad-supported radio service consists of over 80,000 stations and exists as a separate services and application. As consumers across the globe continue to shift their media consumption to mobile devices, Akazoo is equipped with a world-class mobile application and user experience which works seamlessly across a multitude of mobile devices and provides a high-quality user experience across a range of mobile networks from 2g to 4g LTE and soon 5g.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
Q3 better than expected. Revenues increased 24.4% to €34.9 million versus our €34.3 million estimate. Adjusted EBITDA of €2.95 million was better than our €2.63 million estimate.
Subscriber growth, better than expected. Premium subscribers of 5.5 million, up 28% year over year, were better than our 5.3 million estimate, with solid growth in Eastern Europe and some Latin countries. Last quarter, Asian countries drove results, which illustrates the company's dynamic and...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.