The People’s Operator’s (TPO) latest financials has revealed strong revenue growth across the board.
The MVNO’s full year results for the year ending 31 December 2015 showed revenues hit £2.1m, up from £432,000 a year ago.
TPO also ramped up its UK customer base to 80,000 and launched in the US. This move enabled the business to add 20,000 new subscribers after securing agreements with both Sprint and T-Mobile last year.
TPO stated that 10% of its new adds came through its social platform, something which CEO Mark Epstein has previously described as a key part of the company’s strategy. Speaking to Mobile at the beginning of the year, he revealed the MVNO’s plans to use the platform to grow virally, choosing to shun traditional marketing methods for a more digital approach.
‘We spread virally through cause based partners’, he said, ‘we don’t do any TV ads or billboards or rents and we have an efficient digital new age company model. We’re not sponsoring football teams or sporting event. We’ve looked at this in a completely different way to the rest of the MVNO industry, we don’t have fancy phones. It’s really important to keep the cost per customer acquisition (CPA) low, that’s vital. When we get new customers they sped the same as they previously did and they hardly leave.’
Solid year of growth
Epstein’s words were echoed by Executive Chairman and Wikipedia founder Jimmy Wales, who described 2015 as a year of ‘solid growth’ for the business. The firm has taken a number of steps over the last year to raise profits, recently ending its MVNO agreement with EE in favor for Three.
Wales expressed confidence that the MVNO could continue to boost customer numbers whilst maintaining a low marketing spend.
‘This was a solid year of growth for The People's Operator. Our subscriber numbers continue to rise and we are seeing excellent traction following our launch in the US. Our large numbers of charity and good cause partnerships, coupled with our popular and active social platform, mean that we are gaining more and more subscribers attracted by our giving proposition. This proves the strength and viability of our model for viral growth allied with low marketing spend and firm cost control.'