Opera Mediaworks announces Q3 2015 results: Revenue up 11%, platform reach grows 47%
Today Opera, Opera Mediaworks’ parent company, reported financial results for Q3 2015. Opera Mediaworks, the world’s largest independent mobile ad platform, showed expected growth contributing 64% of Opera’s total revenues of $149.4 million.Here are some key numbers:
- Opera Mediaworks reported revenue of $96.2 million – up 11% year over year.
- Overall, Opera revenue (publicly listed on the Oslo Stock Exchange) was $149.4 million, up from $138.8 million – an increase of 8%. The adjusted EBITDA was $27.5 million, down 19% versus Q3 2014.
- Opera Mediaworks’ platform reach grew 47% year over year, now touching 1.12 billion users, compared to 770 million at the same time last year.
- The performance business now accounts for 49% of the business, up from the 47% it represented in Q3 2014.
- Opera Mediaworks continued to see a revenue shift toward video. Currently, 57% of revenue comes from video advertising.
Opera Mediaworks had expected revenue growth in Q3 2015
Key agreement with AT&T
This week, Opera Mediaworks also announced an important relationship with AT&T AdWorks, trialing the ability to offer integrated addressable advertising campaigns across TV and mobile devices.
AT&T and Opera Mediaworks will now offer cross-screen addressable advertising
This trial will let advertisers reach the same consumers with the same message across multiple screens and is powered by AT&T AdWorks, the leader in addressable TV advertising, in partnership with Opera Mediaworks. AT&T AdWorks has a reach of 12 million U.S. households and Opera Mediaworks can reach 285 million devices in the U.S.
You can see coverage of this announcement in Ad Age and Ad Week.
Continued shift toward video
Shift toward video continues, contributes 57% of revenue
Through the quarter, Opera Mediaworks’ revenues reflected a continued shift toward video advertising, with 57% of overall revenues now coming from video compared to 46% at the same time last year. This trend is expected to continue into Q4 and beyond as video advertising contributes to better operating margins and automation.
The team continued to add some key brands to the company’s customer portfolio in Q3, including names like Stoli, United, Ralph Lauren, and many more.
The performance business continued its growth momentum as well, with 49% share of revenues. With this split, Opera Mediaworks has successfully diversified the business across brand and performance advertising.
International growth
Today, Opera Mediaworks’ breakdown of revenue by region is: 62% from North America, 25% from EMEA, 8% from Asia Pacific (APAC) and 5% from Latin America (LatAm). In the past quarter, Opera Mediaworks has been able to successfully scale the international business that contributes 38% of revenue, showing less reliance on the core North American market.
“With the slow summer season behind us, we are charging full force ahead into Q4 with the upcoming holiday season,” said CEO Mahi de Silva. “We are seeing great momentum and a strong pipeline from our brand and performance customers and expect Q4 to be our best quarter ever.”
More information on Opera’s earnings can be found here.
