Bitbuzz Turnover Up 11% In H1 2014
WiFi network operator Bitbuzz says revenue for first half of 2014 increased by 11% year-on-year to €1,102,000.
In terms of operations, Bitbuzz had a total of 2,978,490 registered users at the end of June 2014. The corresponding figure for the first six months to the end of June 2013 was 1,514,540, representing an increase of 49%.
There has been a significant growth in the total number of logins per month for Bitbuzz, which now exceeds 1,519,660, almost treble the 550,000 average monthly logins recorded in 2013. Bitbuzz is now seeing an average of over 50,000 logins every day.
The total number of Bitbuzz Wi-Fi hotspots across Ireland at the end of June 2014 was 522, representing a year-on-year increase of 12%.
Last month Bitbuzz launched Bitbuzz Freedom, free on street Wi-Fi, in Tralee where there have been 5,639 logins already. Logins to the existing service in Killarney have topped 5,000 in the last month, with over 10,000 users in Dublin and 8,000 users in Cork connecting to their network when out and about over the same time period.
Managing director Shane Deasy (pictured with Alex French and Russell McQuillan) said: “We are continuing to see the knock on effect of increased appetite for Wi-Fi amongst consumers with a marked increase in business with Costa Coffee, Spar, Applegreen and Insomnia.
“We attribute the continued growth of daily logins to the simplified login process we introduced early this year, which has proved extremely popular with users, as the number of smartphones and tablet computers in the country continues to grow.”
According to Bitbuzz, 70% of hotel guests are not turning on the TV in their room, instead choosing to stream content through their iPad and laptop.
This trend has seen Bitbuzz selling higher bandwidth back end services to hotels throughout the UK and Ireland to cope with the increased demands for streaming video content.
Bitbuzz recently trebled the capacity of the WiFi service in The Shelbourne Hotel from 50MB to 150MB symmetric fibre to cater conference attendees.
According to Deasy: “Strong WiFi is non-negotiable for holding conferences. People are not just talking or taking notes, they are tweeting, uploading images, live streaming or checking emails. Therefore, hotels must be equipped to meet these demands from event organisers.”
Bitbuzz Ltd booked a net profit of €338,000 in 2013 and had a net worth of €1,739,000 at year end. The company had cash of €1,227,000 last December.
This year Bitbuzz has added hotel clients such as the Muckross Park Hotel & Spa, Radisson Blu Cavan and Radisson Blu Sligo in Ireland and Holiday Inn Express hotels at Manchester Airport, Doncaster, Folkestone and Tamworth in the UK. (October 2014)