Advanced Television

Netgem reports over 500,000 TV subs

March 31, 2023

Netgem, the streaming entertainment specialist, has reported that 2022 was marked by many operational achievements including:

  • the launch of the ‘best-in-class’ service TalkTalk TV 4K in the UK.
  • The extension of the agreement with Elisa in Finland, integrating androidTV technology.
  • The launch of ZeopTV, a service entirely operated by Netgem (Zeop is the first independent mobile and FTTH operator in La Réunion).
  • The launch of Gaumont Classique in France demonstrating the incremental potential of our platform for rights holders.

Netgem ended 2022 with a base of 508,000 subscribers, managed on behalf of some twenty fixed telecommunications operators in Europe, under the operator’s brand (B2B2C model), up 40 per cent compared to the end of 2021.

Supported by the growth in the number of subscribers, the revenue and gross profit for the 2022 financial year amount to €36.3 million and €20.1 million, respectively up 28 per cent and 14 per cent compared to the 2021 financial year. The total annual revenue resulting from the streaming TV business amounts to €29.5 million, of which €14.4 millions give rise to recurring billing. EBITDA increases by 59 per cent, from €4.3 million in 2021 to €6.8 million in 2022 thanks to the combined effects of gross profit growth and control over operating costs.

The current operating result of – €2.1 million is an improvement of €2.3 million compared to the previous financial year.

The operating result amounts to – €2.2 million over the past financial year against – €3.7 million over the previous year, an improvement of €1.5 million. Net profit attributable to the Group, also improving, was positive over the financial year (€0.1 million)


Renewing its confidence in Netgem’s strategy and its ability to generate cash, and in view of the resources freed up by the sale of the fibre business, the Board of Directors has revealed it will propose to the General Meeting to increase the dividend from 3 cents to 5 cents per share.

Perspectives for 2023

As announced at the end of January 2023, Netgem has decided to initiate the sale of its fibre business, which is effective as of April 1st 2023 with a positive net cash effect of €3 million. The resources freed up will enable the Company to increase its investments in innovation in order to strengthen its market position.

The evolution of the market towards standardized set-top box terminals based on androidTV should also allow the Group to withdraw from the sale of access equipment. These changes in scope will enable the company to reduce its operating costs despite the inflationary context.

The company anticipates ARR growth of more than 20 per cent in 2023. The cash flows generated by the subscribers base will thus be progressing and will be sufficient to finance this growth.

Mathias Hautefort, CEO of Netgem, commented: “Netgem is positioned as a B2B platform for access to a family digital entertainment video offer at the right price. Our growth model is simple: More content on an innovative platform strengthens our proposition to our privileged distribution partners that are telecoms operators, attracting new content looking for new monetization solutions. After a good year in 2022 and excellent prospects for 2023, the sale of our fiber business gives us the means to accelerate this virtuous circle.”

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