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Edison Investment Research Limited · ISIN: MT0000580101 · EQS - Company News (162 News)
Country: Great Britain · Primary market: Malta · EQS NID: 1875571
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08 April 2024 01:21PM

Google strategic collaboration

Edison Investment Research Limited
Edison issues flash on Media and Games Invest (M8G): Google strategic collaboration

08-Apr-2024 / 12:21 GMT/BST
The issuer is solely responsible for the content of this announcement.

 

London, UK, 8 April 2024

 

Edison issues flash on Media and Games Invest (M8G): Google strategic collaboration

MGI – Media and Games Invest has announced a strategic collaboration with Google Cloud that will bring all MGI’s marketplaces together by mid-FY25. As well as result in the obvious scalability advantage, this collaboration should boost the effectiveness of MGI’s privacy-first AI-driven products. Management anticipates it will also generate cost savings of €20m over the next four years. MGI has started the year strongly, with organic revenue growth of 18% in January and 25% in February. Q124 results are due on 30 May.

With signs of recovery in the key US advertising market (70% group FY23 revenue) and an offering that fits well with the market’s direction of travel with the deprecation of third-party cookies, this year has started strongly. FY24 guidance at the time of the FY23 figures was for ‘meaningful double-digit’ organic revenue growth, which will likely be clarified with the Q1 figures in May. 

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1875571  08-Apr-2024 

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