Cash Revenues for Q2 expected to exceed $20mSydney, Nov 9, 2017 AEST (ABN Newswire) - Big Un Limited (ASX:BIG) (or 'the Company') is pleased to announce market guidance for Q2 FY18 following continued strong sales results. Based upon excellent performance by the Company so far this quarter, BIG expects to achieve cash receipts from customers in excess of $20m for Q2 (an increase of 398% from Q2 FY17).
The Company has expanded its telesales operations in Australia and the US and is experiencing the early benefit of brand recognition in the Australian market as evidenced by inbound calls and customer referrals. Growth in Q2 remains predominantly from the sale of video subscription. Further details on overseas growth and expansion of the business model will be provided later this quarter.
Positive start to FY18
Commenting on the guidance, CEO Richard Evertz says, "October was another record month for BIG in Australia and the US. This growth is still predominantly from Pillar One of our business model as we continue to tap into the rapidly growing global demand for video content from SME's. This growth naturally flows into Pillar Two providing many opportunities for large brand sponsors. Further details on the growth and development of our unique B2B2C business model will be provided to the market in the coming weeks. It is now obvious that by removing the barrier to entry for SME's through our video licencing and subscription model, we are able to tap into the huge global demand for video and leverage our first mover advantage. As BIG's business model matures, it places the Company in a unique position to become a dominant player. We are incredibly excited by the growing viewership of our content, brand recognition and customer referrals, and firmly believe that we are now beginning to experience the network effect of building a unique video ecosystem".
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About Big Un Ltd
Big Un Ltd (ASX:BIG) is the parent company of Big Review TV Ltd. Big Review TV is a social media, video review platform. BIG are innovative disruptors in the online video space delivering subscription based video technology products and services. The Company has operations across Australia and in New Zealand, the United Kingdom and the United States, Hong Kong, Singapore and Vancouver and was listed on the ASX in December 2014.
Big Un Ltd