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Good Life Plus on track to hit 200,000 subscribers and positive Ebitda by 2027

06:02, 26th June 2024
John Hughman
Vox Newswire

Good Life Plus (GDLF)Follow | GDLF, the UK-based subscription service offering daily prize draws and various discounts on popular goods and services, has announced that Tennyson Securities has initiated research coverage on the company, setting an initial target price of 4.24 pence a share, offering 165% upside from the current price. 

The company recently surpassed 30,000 subscribers, a milestone achieved through effective marketing strategies, rising demand, and substantial capital investments from notable investors including Mark Blandford. According to Tennyson, Good Life Plus is expected to hit over 200,000 subscribers and generate EBITDA of £5.1 million by its January 2027 year end, when revenues are expected to hit £18m from the current £4.1m. The company’s EBITDA margins are projected to improve as marketing expenses stabilise, and its subscriber base grows.

The company has made substantial progress in enhancing its market presence by creating new distribution channels and forming strategic partnerships with renowned blue-chip brands and media outlets. Recent collaborations with prominent names like HelloFresh, Beer52, Radisson Hotels, and Vue Cinemas have bolstered Good Life Plus's brand visibility and improved its search engine optimization (SEO) efforts.

With the aim of further strengthening its market position, Good Life Plus has launched media campaigns in conjunction with the UEFA Euro 2024 tournament, aiming to increase its visibility and drive subscriber growth. It’s also committed to supporting good causes, sponsors promising athletes like Abbi Pulling, an aspiring Formula 1 racing driver, and Dan Azeez, a professional boxer who has secured all British Boxing Board of Control domestic titles in the light-heavyweight division. 

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Good Life Plus’s unique offering is already proving a hit with consumers, and with significant financial firepower and industry expertise behind it is well positioned to scale up and deliver on Tennyson’s targets.

Lotteries account for roughly a third of the £14.bn online gaming market, and while Good Life Plus faces competition from established players like The National Lottery, Best of the Best, People’s Postcode Lottery, and Omaze, their success bodes well for Good Life’s prospects, especially given its differentiated “freemium” subscription model and a comprehensive package of prizes and discounts.

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