Mxit is on track to show a profit in 2012 despite a dip in revenue after an advertising move and the privatization of content. This is according to Mxit CEO, Alan Knott-Craig junior.<\/p>\n
Knott-Craig said earlier this year that Mxit\u2019s \u201cconsolidated revenue in 2011 was just over R100 million. The consolidated bottom line was a loss.\u201d<\/p>\n
Knott-Craig remains upbeat about Mxit\u2019s finances in 2012. \u201cThe last few months have seen a dip in revenue as we moved advertising into Shinka, and privatized much of the content (classified ads and music). Seems we’ve turned the corner. Content revenues are 20% up on last month,\u201d said Knott-Craig.<\/p>\n
The Mxit CEO added that, despite the dip in revenue earlier this year, they are on track to show a profit by the end of the year.<\/p>\n
Knott-Craig said that while Mxit\u2019s growth in South Africa has flattened out, the growth in the rest of the continent is accelerating.<\/p>\n
Mxit currently has over 12.5 million active customers internationally (users who used the service over the last 12 weeks), and the company is confident this figure will increase.<\/p>\n
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