Zed Full Year Revenues Break Through Half Billion Dollar Mark

Spanish mobile content provider, Zed has reported revenues of US$545 million in the full fiscal year of 2007. These figures represent an operating income increase of 40.4% over the same period of 2006 (US$338 million), considering the recurrent business. Currently 90% of Zed's corporate activity comes from operations outside of Spain and 65% from markets in which currency reference is the US dollar.

"We are delighted with 2007 results, and with our net profit figures, which show that even during a year where our focus has been corporate consolidation after significant acquisitions, we still lead this industry with a great level of efficiency," said Javier Pérez Dolset, founder and CEO of Zed.

Zed holds an excellent competitive position in two of the largest mobile markets: the US and Russia, which together hold around 420 million mobile subscribers. "One example of our leadership position in the US market is that close to 20% of the mobile music downloaded has been managed by our US branch," added Pérez Dolset.

Regarding 2008 forecasts, Pérez Dolset commented, "Revenues are expected to be more than US$870 million, mainly through organic growth."

Zed will continue to promote strategic alliances with key Internet and digital entertainment companies, similar to the company's recent agreements with AOL and Metacafe.

In the short term, the company plans to launch its products and services in two of the world's largest mobile markets, India and Brazil, as well as Australia. This would increase Zed's presence to 55 countries. Zed also plans to expand its activities in Latin America.

According to the graph supplied with the financial statement, the revenue figures do not include Monstermob's Chinese operations. In June last year, the Chinese subsidiaries stopped filing financial statements with the UK head office for unspecified reasons.

For the full year in 2006, the Chinese operations - M Dream and W Infinity accounted for US$15.6 million out of the Company's total consolidated turnover of US$213 million. This would have been before a clampdown on subscription services in the country though, so the current figure could be lower now, despite the growth in the local market.

Posted to the site on 26th February 2008