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Brave Bison pre-tax losses narrow

By BFN News | 07:43 AM | Wednesday 31 August, 2016

Brave Bison Group, the independent digital media and social video broadcaster, reports net revenue of £9.7m for the six months to the end of June - 38% up on a year ago. Thew group - which re-branded and changed its name from Rightster Group on 9 May - posts an adjusted EBITDA loss of £0.8m (a decrease of 84% from H1 2015) while pre-tax losses fell 69% to £3.6m. The group ended the period with £8.4m of cash. Chief executive Ashley MacKenzie said: "I am thoroughly pleased with the pace of progress re-orientating the business. "We are undergoing a transformation from a third party technology provider to a social video broadcaster, and throughout that transformation have managed to significantly grow revenues, while dramatically reducing our operating costs. "Our primary financial goal remains to achieve profitability. While maintaining close control of our cost base, management will be looking to build on this strong growth momentum throughout the second half of the year. "Significant revenue opportunities will be driven by maintaining competitive advantage in a fast-paced online video industry - combining our data-informed scientific approach to audience management for existing video content, with the remarkable artistic talent we have in our business for new content creation." Story provided by

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