EQS-News

CLIQ Digital Reports First Quarter 2024 Results - Seite 2

• Lifetime value of a customer: In 1Q 2024, the expected average lifetime value of a customer (LTV) for bundled- and single-content services was down 7% quarter-on-quarter to €81 (4Q 2023: €87). The decrease was mainly due to the higher churn rate of members.
• Paid memberships: The number of unique paid memberships per 31 March 2024 for bundled- and single-content streaming services decreased to 1.1 million (31/12/2023: 1.2 million) as the result of a more widespread refund programme of the credit card companies.
• Lifetime Value of Customer Base: As at 31 March 2024, the Lifetime Value of Customer Base (LTVCB) decreased to €136 million compared to prior year-end (31/12/2023: €164 million). The decrease was related to the higher-than-anticipated churn of the existing member base. The LTVCB represents the expected sales to be generated from paid memberships as at reporting date over their estimated individual remaining lifetime.
• “Fit for Future”: The Group has initiated a Group-wide transformation programme (“Fit for Future”) to improve both its cost efficiencies and productivity gains. The main objective of the programme is to fundamentally transform the Group to become more focused, streamlined, and goal-driven. As an initial cost-savings measure and to improve the strategic alignment of the business operations towards bundled-content streaming services, the U.K. office was closed during the first quarter 2024. Productivity gains will be generated by fully focussing on operational improvements required across the Group. The Group will focus on new sales channels (the ‘Magnificent Seven’) to adopt new and innovative marketing approaches to generate sales and earnings.

Share buyback programme

The Group will continue to buy back shares within the share buyback programme initiated in February this year. This programme is testament to CLIQ Digital’s conviction in its operational strength and the objectives of its growth strategy.

In the first quarter 2024, the Group repurchased 64,800 treasury shares at an average share price of €17.50, which equalled 10% of the maximum buyback volume and 1% of the total share capital. From 16 April until 3 May 2024 (included), CLIQ repurchased further 46,578 treasury shares at an average share price of €15.21.