Chairman's Address - 2017 AGM
Over the course of the last twelve months BIG has seen significant growth in share price, operating cash profits, customer numbers, international operations and organisational headcount.
This growth has come as a direct result of the talent of our team at BIG. Good leadership is fundamental to the success of the team and I would personally like to recognise the hard work, dedication, vision and passion that Richard, Sonia, Brandon and Andy continue to invest into the business.
The growth of the Company has been built on the foundation of BIG's business model, which is to produce high-quality videos for small to medium sized businesses, through which they can promote their business at an affordable price.
This past twelve months has seen the development of an enthusiastic sales team, both in Australia and abroad who are passionate about BIG and the results of this speak for themselves. Pipeline members have increased 544% year on year, paying subscribers increased 114% year on year and video content views have increased to 44.2million, an increase of 170% year on year. BIG's approach has always been to leverage its first-mover advantage and the momentum that our sales team has built is executing this strategy well.
As BIG's customer numbers have continued to grow quarter on quarter, the production team have expanded to meet this need. BIG's investment into this team has enabled the team to increase the production quality of their work whilst maintaining video production costs and efficiencies.
BIG has continued to devote significant resources into its technology development, with the appointment of Jason Short as BIG's Global Chief Technology Officer in July 2017. Jason has extensive experience in the development of mobile technology, business intelligence and marketing technology ensuring that BIG continues to bring leading-edge technology to both its business customers and consumers. During the 2017 financial year, BIG released its autogen technology. This technology has enabled the company to automatically generate large volumes of promotional videos, utilizing content from its existing video library. This has enabled BIG to leverage the customer base accessed through the BHA Media and Food and Beverage media acquisitions to market its services through targeted short videos.
Effective governance and internal controls are crucial to long-term business success. We recognise the importance of these and continue to prioritise these as part of our culture, both at board and executive level. This includes our processes to managing risks, be those financial, technological or operational risks.
Your Board pays close attention to both the Company's reputation and its culture. As BIG continues to transition from its history as a fast-growing start-up into a larger corporate entity, the Board remains committed to building a strong corporate culture and retaining its reputation as an employer of choice.
Our team at BIG are passionate, dedicated and hard-working and have each played their part in producing such a fantastic result for the 2017 financial year. I congratulate them again on the exciting and dynamic business that they are continuing to build and which the year ahead will see further key milestones being delivered.
Finally, I would like to thank our shareholders for their ongoing support and commitment to BIG. We truly value your belief in us and we will continue to strive to deliver outstanding results in return for that confidence.
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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 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.
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