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MySQUAR hits break even as revenues soar in June

Published: 02:37 04 Jul 2017 EDT

picture of mobile game
Gaming revenue is soaring

Myanmar-focused social media group MySQUAR PLC (LON:MYSQ) has reached break-even on a day-to-day basis after another strong pick up in revenues over the past month.

Eric Schaer, MySQUAR’s chief executive, said it had been a remarkable finish to the 2017 fiscal year.

“We are very pleased that our divisions across games and apps have established a solid reputation from consistently releasing new titles and features that are in the top downloads in Myanmar, and that premium content within our apps is steadily gaining popularity.“. 

He added that daily revenues averaged US$8,500 at the end of June, an increase of 21.4% from the start and almost 55% higher than May’s daily average of US$5,500.

The daily average for the whole of June was US$7,200, with this growth over May put down to higher gaming revenue and in-app premium content.

Revenue generated from what the AIM-quoted company calls “premium content” – such as MyChat and other apps – is expected to have a much bigger impact in the current year.

An updated version of MyChat has just been launched and includes a dating feature where users have to pay to chat with one another.

The launch of the new game and updates to MyChat will follow hot on the heels of the release of the latest version of MySQUAR’s Voice over Internet Protocols (VoIP) service, CallHome.

The internet-based telephone app was initially focused on the South East Asian markets, but has now been expanded to target a larger regional base, including countries such as Pakistan and India.

 

 

MySQUAR targets more users after hitting one million mark in Myanmar

The chief executive of MySQUAR (LON:MYSQ), Eric Schaer, says the Myanmar-focused social media group is aiming for 2 million users in the country next year. Today the company, which listed on AIM in July, told investors it had knocked down a key milestone – it now has over 1 million...

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