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Brave Bison losses widen as revenue falls 21%

By BFN News | 08:43 AM | Wednesday 15 April, 2020


Social video company Brave Bison reported wider annual losses on higher costs and a fall in revenue. For the year ended 31 December 2019, pre-tax losses widened to £2.7m from £0.1m as revenue decreased by 21% to £16.8m on-year. The fall in revenue was 'primarily due to changes in Facebook's monetisation policies, resulting in a decline in advertising revenue from our Facebook channels of £7.3m,' the company said. 'All of our pages have since been re-monetised, however we have needed to shift our strategy to both invest in developing original content and ensure that we are not overly reliant on any one platform' it added. 'We managed to drive performance forward across different elements of the business including our YouTube network which has remained a solid revenue contributor with advertising revenue increasing by 66%.' Looking ahead, The company warned it expected its branded content and JAPAC to be affected by the postponement of the Olympics until 2021 and the knock-on effect on marketing spend globally from the Covid-19 pandemic. At 8:43am: (LON:BBSN) Brave Bison Group Plc share price was -0.1p at 0.85p Story provided by StockMarketWire.com

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