If you look closer, you won’t get the impression that the business model is particularly sustainable. The company repeatedly creates similar-looking websites. Existing customers who have taken out a subscription only stay for eight months on average. That’s why we always need new customers. The marketing machine is rolling out for this – and that costs: While it was 34 million euros in 2020, the company spent over 120 million euros on marketing in 2023, i.e. more than a third of total sales. It is “the fuel needed to power the marketing machine called Cliq,” the company said. Expensive fuel compared to competitors: Industry leader Netflix, for example, only invested seven percent of its sales in marketing in the third quarter of 2023.
Also read: Which streaming subscription do I still need in 2024?
Cliq Digital is now also reducing marketing costs. In the first quarter they wanted to invest 35.4 million euros in customer acquisition. Instead, they only spent 29.3 million euros on marketing. It is unclear whether there are strategic reasons or a strained financial situation behind the cuts.
Related
Opening of a new “shipping line” between Israel and Egypt
2024-05-07 09:37:31
The Israeli website “port2port” revealed the opening of a new sea shipping line between Israel and Egypt.
The website stated, “Medcon Lines Shipping Company decided to open this new shipping line to facilitate shipping operations between Egypt and Israel.”
The website revealed, “The company has opened two new lines, the first of which will operate between the Italian port of Ravenna, the port of Alexandria in Egypt, and the ports of Ashdod and Haifa in Israel, while the second shipping line will operate directly between the ports of Egypt and Israel,” explaining that “container ships will operate on both lines from Egypt.” And Israel.”
The Egyptian “Pan Marine Group,” which owns the “Medcon Lines” shipping company, stated that “this company is one of the Egyptian group companies that has been operating in the Egyptian market for more than forty-five years,” adding that it “strives hard to establish valuable commercial relationships.” all over the world”.
It is noteworthy that the Egyptian “Pan Marine Group” owns 5 companies: (Pan Marine Shipping Services), (Pan Marine Petroleum Services), (Pan Marine Logistics Services), (Medcon Lines Egypt S.A.E.), and (Ban Marine Supplies).
Egypt and Israel have many agreements in the field of gas through contracts worth billions of dollars.
Suggest a correction
2024-05-07 09:37:31
Related
Dubai Technology Future Summit: Shaping the Future of the Financial Sector with Innovation
Mohammed Al Balushi, Head of the Innovation Hub at the Dubai International Financial Centre, emphasized the importance of the Dubai Technology Future Summit in shaping the future of this vital sector, by bringing together stakeholders and decision makers under one roof to shape the future of the world. finance department.
Al Balushi, in a statement to the Emirates News Agency, WAM, on the sidelines of the Dubai FinTech summit, said that modern technologies such as artificial intelligence play an important role in the growth of the financial sector, noting that the top appears in his top. sessions on the role of modern technologies in the financial sector as it is a pillar for growth and innovation in the sector.
He said that the financial technology sector continues to grow, supported by more investments and innovations, highlighting the role of the Dubai International Financial Center in increasing growth by attracting companies operating in this area. , stressing that the center currently includes around 900 unique companies. in financial technology, which in turn contributes to increasing the continued growth of the financial and technological sector.
Al Balushi explained that the summit aims to focus on developments in the sector and discuss a number of topics, including specific specialties such as digital payments, open banking, and digital assets, as well as the role of investment capital in it the financial technology sector, noting that. most of the companies operating in the financial technology sector are emerging companies, which are mainly involved in providing the necessary support to companies and reducing costs to follow business growth and developments to ensure understanding of legislation, regulations and requirements.
2024-05-07 07:55:03
#companies #specialized #financial #technology #sector #work #umbrella #Dubai #International #Financial
Related posts:
Dubai Technology Future Summit: Shaping the Future of the Financial Sector with Innovation