GroupM Symphony Renewal and Release of FY21 Financial Results

The renewal of Adslot’s global GroupM Symphony agreement was finally executed over the weekend, extending the term by a minimum three years to at least July 2024.

This agreement is unique to previous versions, in that it incorporates trading terms for the Adslot Media platform, allowing GroupM markets already using Symphony to access the Symphony – Adslot Media integration (as is already the case in Austria) without having to execute stand-alone local agreements.

You can read the full ASX release here.

Release of FY21 Financial Results

The Company also released its full year financial results for FY21 this morning.

Although top line revenue was down slightly (-9%) due to GroupM cost reductions during the COVID19 pandemic (which impacted Licence Fee revenues, down -28%), Trading Fee revenue was up 41% off the back of a record annual TTV of $28.3M (up 82% on pcp).

Not obvious from the headline financial results is the fact that Adslot made steady progress throughout the year, executing MSAs with agency holding companies, launching private marketplaces, and commencing trading on the platform.  Further progress has been achieved in the current quarter.Although FY21 was a record year for TTV (our guiding metric and leading indicator), we expect FY22 to be the real break-out year for the Company.

The Company’s Appendix 4E (FY21 Financial Results) can be downloaded here.