Bango CEO "has seen no slowdown in spending" on Subscription Video on Demand
London, UK
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August 01, 2023 03:33 AM Eastern Daylight Time
Bango PLC (AIM:BGO, OTCQX:BGOPF) chief executive Paul Larbey speaks to Thomas Warner from Proactive after releasing a trading update for the first half that the company describes overall as being "in line with management expectations." Larbey gives an overview of what he calls a "very strong first half of the year", saying that he attributes the success to several contributing factors which include the strong performance of their underlying payment business and the successful integration of Docomo digital, which was acquired in August 2022.
He goes on to draw particular attention to the deals signed during the period, especially in the US subscription hub market where Bango is already covering over 60% of US consumers. Bango also recently secured an £8 million loan from NHSN, which Larbey suggests provides the company with the financial flexibility to capitalise on growth opportunities and build confidence with larger partners. Despite uncertainty in the wider economy over levels of consumer spending, Larbey says that Bango "has seen on slowdown in spending" on Subscription Video on Demand services is well-prepared for a busy second half of the year.
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