Mobile Streams gains popularity in India

Active subscribers are those customers who have made a purchase from the company in the past 60 days.

Chief Executive Simon Buckingham, said: "This is a significant initial milestone for Mobile Streams in India. Whilst we are still in the investment phase and there is still some way to go before our operations in India will be break even on a cash basis, we are now at a point where we have a good understanding of our key metrics such as subscriber acquisition costs and lifetime subscriber values.”

The firm attributes the increase to the billing connections it made with the three largest local mobile phone operators in India. The company plans to add more billing connectivity to the next three largest network operators before the end of the year. According to the board this would increase the addressable audience size from around 600m mobile users to around 900m.

Analyst at N+1 Singer Jamie Constable commented: “While a modest number in relation to Argentina it does mark the first stage in the scaling of the new Indian business. Overall this is a positive step for the Indian unit, which could easily become MOS’s largest business by some margin.”

Share price went up 176.56% to 11.06p at 1200 BST on Tuesday.