Streamplay Studio (ASX:SP8) Expands Cloud Gaming to Sri Lanka
Expansion into Sri Lanka
Streamplay Studio Limited (ASX:SP8) has signed a Product Distribution Agreement with Mobibox Technologies – FZCO to deliver its Playstream cloud gaming service exclusively to Dialog Axiata PLC customers in Sri Lanka. Dialog Axiata is Sri Lanka’s largest mobile network operator, serving over 19.1 million subscribers as of December 2024.
Agreement Details
Following the successful entry into the United Arab Emirates (UAE) (ASX: 7 May 2024), rolled out to Etisalat and du customers, Playstream generated over AED 2.04 million (~A$ 873,000) cumulative revenue in its first year (ASX: 29 April 2025).
Under the agreement, Streamplay will integrate Dialog’s billing APIs, with Mobibox handling all marketing and distribution activities. Streamplay will earn 15% of net revenues after a 30% telco share and applicable in-country charges. The three-year agreement can be renewed annually and terminated with three months’ notice. The integration is underway, and the offering will launch within the current quarter.
Market Potential
Sri Lanka has approximately 32.5 million active mobile connections and 21 million mobile broadband subscriptions, providing robust network capacity for cloud gaming. The population is digitally native, with a median age of 33.1 years and high smartphone adoption.
Executive Comments
“Following our UAE debut last year, entering Sri Lanka with Playstream marks the next step in our global expansion strategy. This partnership requires no incremental marketing or operational investment from Streamplay, demonstrating our disciplined capital allocation and focus on maximising shareholder value. We look forward to working closely with the Mobibox team over the next six months to maximise this opportunity.” — Bert Mondello, Chairman of Streamplay Studio
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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