SportsHero reports upbeat first revenue figures from exclusive La Liga partnership

SportsHero ASX SHO first revenue La Liga partnership
SportsHero's competition generated gross revenues in excess of $122,000 throughout September.

Digital sports app developer SportsHero (ASX: SHO) has delivered the first batch of commercial results following its recent partnership deal with Spain’s top-tier football league La Liga.

In August this year, SportsHero became La Liga’s official Indonesian partner and set about promoting its gaming and marketing platform which the company says has undergone a “very successful launch”, with the commencement of the world-first “La Liga Hero of the Month Competition” in Indonesia.

In just over a month since its inception the competition generated gross revenue “in excess of A$122,000”, according to SportsHero.

From sports to commerce

SportsHero has created a real-time fantasy sports app and “social prediction platform” offering an alternative to sports betting and gambling. The company has recently reported that the current World Cup had provided a valuable “proof of concept” as well as gross revenue of A$50,000 for one of its initiatives.

Its self-admitted “mission” is to build the world’s largest social community dedicated to sports by bringing together sports fans from around the world and providing them with an engaging platform to participate in prediction games. There are also supplemental opportunities to win prizes provided by various brand partners and redeem them from its eStore.

The strong take-up of SportsHero’s unique approach focusing on “social prediction” has encouraged the company to expand its coverage with La Liga representing its leading competition for users.

Away from the football pitch, La Liga is currently the world’s 3rd largest sporting league behind England’s Premier League and Italy’s Serie A.

However, in terms of results on the field against its European rivals, Spanish teams have won Europe’s most prestigious tournament, the UEFA Champions League, in 7 of the last 10 seasons.

Setting commercial goals

By partnering with La Liga, SportsHero enables Indonesia’s vast number of football fans to connect with La Liga via expert prediction, unique e-store offerings and “money can’t buy prizes”.

During the last La Liga football season, Spain’s leading competition attracted almost 30 million Indonesian fans, 3.3 million Facebook followers and a broadcast Indonesian audience of 59 million people, according to research company Nielsen Sports.

La Liga Asian fans

In fact, Indonesia sports the highest La Liga audience in southeast Asia – dwarfing all its local neighbours including Australia’s meagre 1.3 million fans in the process.

With its app able to establish proof-of-concept at this year’s FIFA World Cup, SportsHero is set on scaling up its coverage. In the first month of the La Liga season, SportsHero says it plans to significantly grow user numbers and revenues as it accelerates its promotion and marketing activities.

“This will be executed via the La Liga and SportsHero social media and digital channels along with Walletku’s network of over 20,000 physical merchants throughout Indonesia,” the company said.

Not stopping there, SportsHero says it wants to not only expand geographically but also to diversify its product base.

The new ‘Version 3’ version of its mobile prediction app, released last month, now includes a new user playing experience, a referral program, an enhanced group chat feature and a range of new platform features for content partners.

According to SportsHero, the new platform has been purpose-built to fast-track the integration of new sports as the business looks to roll out an aggressive schedule of new games such as cycling and rugby, expected to be available for customers in 2019 throughout Indonesia, Asia Pacific jurisdictions and globally.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.