Updated Enterprise Values of 15 Public Mobile Entertainment Companies

What a difference a week makes. I'm already updating this spreadsheet with some new data. Here are some notable changes:

• Buongiorno posted Q1 2010 earnings
• Velti filed updated earnings with the SEC as part of their bid to go public on the NASDAQ (they're currently listed on LSE)... their numbers are pretty impressive (more on that soon)
• Mandalay Media, parent of Twistbox & AMV, changed its name to NeuMedia, Inc. & announced a notice of default related to a cash balance provision from a key creditor
• ROK Entertainment's stock is down over 50% today (guessing they'll be more news to follow). Btw - did y'all know the biggest shareholder in ROK is the DeJoria family, which controls the Paul Mitchell salon product empire? Always thought the guy in the ads was Paul Mitchell... but that's actually John Paul DeJoria (Mitchell was his founding partner). Anyhoo, probably hasn't been a great investment no matter how you cut & color it

Latest Enterprise Values of 15 Public Mobile Entertainment Companies

• Data for Velti & ROK Entertainment should be taken with a grain of salt, since they haven't released financials in recent quarters
• It looks like a couple of these companies should consider giving their cash back to the investors, and calling it a day. Some of them shouldn't be public at all (and are barely going concerns)
• I think the shining stars of this lot are the mobile games publishers Gameloft, GAMEVIL & Com2uS
• I look forward to adding Motricity into the mix, once (if?) they go public
• Let me know your thoughts on this and if there are any other public mobile entertainment companies I should be tracking

Hurray! Better Hurry With The Reinvention Thing

Chinese mobile music and wireless value-added services company Hurray! Holding (HRAY) announced unaudited Q4 and full year 2009 results today. Well, as I think we've seen across the board, it's been a dire couple of years for the music-focused mobile entertainment companies. This segment, which was the first to realize success with mobile content, is now crashing hard as ringtones fall out of fashion and full-track downloads fail to ignite any consumer excitement... anywhere. As recently as 2007 Hurray! was a $60mil company, and now it's just about half that size. In an attempt to stem the flow of red ink the company has diversified into the tried and true (?) mobile games space and is aggressively launching new titles (11 Q4 09, 12 planned for Q1) on China Mobile's portal... including the notable, but somewhat derivative-sounding "World of Legend - Magical Land". We'll see how it goes... but as it stands prospects for the company look less than awesome. Luckily for Hurray! they still have a decent cash reserve ($50mil in Q3 09) left over from the good ol' days, which buys them a little time to either right the ship or, perhaps for the cash alone, lure a buyer.

Enterprise Values of 15 Public Mobile Entertainment Companies

Enterprise Values of 12 Public Mobile Entertainment Companies

Cabana Mobile Entertainment Top 20 by Revenue

Revenues are in US$ and are based on latest annual reports or industry estimates. The range of revenue on this list goes from a low of ~$50mil to a high of ~$550mil. Total revenue for the Top 20 is ~$4bil.

Please let me know if you think I'm missing a company or if you think I might have the order wrong.

Are These The Top 20 Mobile Entertainment Companies By Revenue?

I think so...but I could be wrong. Who am I missing? Anyone on this list who shouldn't be there? Any issues with the order? I'll adjust and re-post based on feedback.

btw -- this list obviously includes mobile entertainment divisions of companies that are not exclusively involved in mobile or mobile entertainment. Also it does not include the mobile operators or divisions of traditional entertainment companies, such as the studios, networks & music companies.

Hurray for Hurray! in 2008?

Pocketgamer is reporting that Chinese mobile content everything company (games, personalization, music, video, etc.) Hurray! Holdings (HRAY) reported Q4 and full year 2008 earnings.

2008 Rev = $54mil (down from $60.5 in 2007)

2008 Net Loss = $12mil (compared to a loss of $42mil in 2007)

The company reported growth in the mobile music category and according to PocketGamer, "Hurray! says that its Brotherhood of Soldiers game was the top download on China Mobile's game portal throughout Q4, and that the company plans to launch five new games in Q1 of this year."