Cliq Digital is building a substantial business away from the premium end of the entertainment streaming market. Its proposition of a broad spread of content for a relatively low monthly fee is attractive, but the key underlying strength of the group is its customer recruitment marketing. Moving to its own media buying has increased marketing efficiency, and enabled scaling up in North American markets, now set to be replicated in Europe. FY20 figures showed a step change in profitability and our forecasts, initiated here, indicate continuing strong growth over at least the next two years. The share price has performed very strongly yet the rating remains at a discount to entertainment and customer acquisition peers.Den vollständigen Artikel lesen ...