KNM bleats on Clever Goat deal
2 minute read
KNeoMedia (ASX:KNM) has picked up sole distribution rights to the popular ‘Clever Goats’ learning apps – which have sold over 250,000 units to date.
The Clever Goat suite is a series of 14 learning apps designed for 4-8 year olds and has been primarily pitched in the US.
KNM will fast track distribution and sales of the apps during an initial 90-day blast, while the ASX-listed player and Clever Goats Media undergo talks about a possible three-year deal.
The company’s CEO, James Kellett, said that by distributing the app on its platform KMN would be able to consolidate its presence in the US market.
“Clever Goats is an ideal product to deliver to those channels and will considerably strengthen our suite of offerings and revenue opportunities in the US, where we are now well established, and in the Asian region,” he said.
He also said the sale of the Clever Goats suite of apps had been achieved with minimal marketing – implying that the apps would be able to achieve greater reach through the KNM platform.
“The apps also meet a large and growing market opportunity in the US. This is demonstrated by the rapid uptake of this products with over 250,000 units sold without the benefit of targeted marketing that we will now be providing,” Kellett said.
He said KNM would also offer the apps in other geographic regions.
What KNeoMedia (ASX:KNM) does
KNeoMedia is an online games publishing company that delivers world-class edutainment (education and entertainment) games to global educational and consumer markets.
The edutainment industry is currently a $1.5BN industry and is set to grow to $2.3BN in the next two years.
KNM sells its games on a micro-subscription and Apps basis through the KNeoworld.com games portal, App stores and via distribution agreements and education departments.
Primary-aged students (aged between 5 and 13) can play their way through games that are subtly infused with high level educational content in the areas of numeracy, literacy, science and arts.