Agora expects a “breakthrough” 2024 in the internet segment, after the completion of the transformation of Yieldbird, said Tomasz Grabowski, responsible for the group’s digital transformation.
“We are taking steps to ensure that the Internet adapts to the market situation by 2024. It’s worth remembering that the current results are related to the programmatic advertising situation. We are counting on a breakthrough year in 2024, as we have completed work on the product and refreshing the Yieldbird offer,” Grabowski said during a video conference.
He pointed out that over the last four quarters, the share of software-as-a-service (SaaS) in revenues has been growing by approximately 3% quarterly at Yieldbird.
“The result seems very good and we hope that the SaaS share will grow even faster in 2024, which will allow us to get back on the path to profitability. We have completed the main work on refreshing the offer in Yieldbird and in 2024 the costs will not be so high,” added the representative of Agora.
In August, he indicated that the old programmatic model was being phased out, and the y/y result would probably improve in 2024, but the full effects of the restructuring would be visible throughout 2025.
Agora was established in 1989; has been listed on the Warsaw Stock Exchange since 1999; is included in the sWIG80 index. Its most important ventures are: Helios – operator of a cinema chain and owner of the Next Film film production and distribution company; radio activity under the banner of Grupa Eurozet was established thanks to the merger of the forces of the Agora Radio Group and Eurozet, of which Agora is the majority shareholder; AMS – the leader of the outdoor advertising market, as well as news media – “Gazeta Wyborcza”, Gazeta.pl and the supra-regional Radio Tok FM. The company has websites, publishes and distributes books, music and films, and also operates on the catering market.