KNM books revenue and chases 200,000 sign-ups
KNeoMedia is now providing a special needs version of its KNeoWORLD software to 600 students in New York – but is eyeing up 200,000 licenses.
The ASX-listed ‘edutainment’ play has told its shareholders that it has signed up another 400 special students onto a specially designed KNeoWORLD platform – taking the total to 600.
It said that it received $50 per license (or student) as part of the latest sign-up, meaning that it will book $20,000 in revenue.
Aside from the immediate revenue boost, KNM said that the deal had afforded it greater visibility in the special needs system of New York, where there are an estimated 200,000 special needs students.
“We are experiencing considerable visibility across the New York public school system, and now that we have a special education version of KNeoWORLD in four public schools in Bronx and Harlem, more will certainly follow,” KNM chief executive James Kellett said.
“This is significant validation and pleasing revenue diversity in what is a large and very lucrative market.”
The funding for the programs came from philanthropic funding, with corporate, government, and private philanthropic funds making money available for students to access specially designed special needs learning platforms – such as the one KNM has created.
In other KNM news, it said that it would be in a position to update the market on new language versions of its software “shortly”.
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.