Digitalbox CEO upbeat on outlook for 2024 despite challenging first half
London, UK
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September 28, 2023 09:26 AM Eastern Daylight Time
Digitalbox PLC (AIM:DBOX) CEO James Carter speaks to Thomas Warner from Proactive after the digital media company published its interim results for the six months to 30 June 2023. Carter discusses the challenges faced by the business during the first half of the year, noting that despite forecasting a tough period, the company did finish ahead of its internal budget.
Two primary issues were highlighted: the reduced traffic from major platforms like Google and Facebook and the risks of algorithm changes and content strikes. Carter cited an instance where Entertainment Daily was blocked from Google's Discover feed, resulting in a significant drop in traffic.
Another challenge was a 95% reduction in page reach on Facebook for a post about a Netflix show. To address these challenges, he says Digitalbox has optimised its website performance and is pivoting towards on-platform video content distribution. The company also acquired assets from Social Chain during the post-period, boosting their social media following. Carter expresses optimism about the global ad market's recovery and hints at potential future acquisitions for Digitalbox.
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