GAMING firm NetPlay TV yesterday said its losses had narrowed over the past year as its strategy of chasing the live gaming market started to pay off.
NetPlay posted a £1m pre-tax loss for the year to December, compared with a £4.4m loss the previous year. Revenue soared by 118 per cent to £19.8m.
“The belief that in time consumers would firstly demand a ‘live’ gaming experience on their PCs and secondly would want interaction through their mobile phone is beginning to prove correct,” said non-executive chairman Clive Jones in a statement yesterday.
“We predict this demand will continue to grow as internet connectivity speeds become faster,” he added.
NetPlay, which transformed itself from a mobile content business to an interactive TV gaming firm in 2007, said it had made a number of acquisitions throughout the year, underpinning this belief.
It also won a lucrative four-year contract to produce the Challenge Jackpot show for Virgin Media Television, a move it described as a “key milestone” for the business.