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.
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.
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.
Continued shift toward video
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.
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.
Latest posts by Falguni Bhuta (see all)
- Mobile apps capture consumer attention 37 minutes a day – up 20% from the beginning of 2016 - November 21, 2016
- Opera Mediaworks delivers its 4th consecutive $100M quarter Company shows 30% YTD growth fueled by Video, Performance & Programmatic - November 10, 2016
- Top takeaways for mobile marketers from the Fall Apple event - September 9, 2016