Escape Hunt PLC Digital strategy surpassing expectations
December 21 2020 - 2:00AM
RNS Non-Regulatory
TIDMESC
Escape Hunt PLC
21 December 2020
21 December 2020
Escape Hunt plc (AIM: ESC)
("Escape Hunt" or the "Company")
Digital strategy surpassing expectations
Escape Hunt, a global leader in the growing escape rooms sector,
is pleased to announce an update on the progress of its digital and
remote play strategy.
Performance of the digital and remote play products in December
has surpassed management's expectations, significantly offsetting
the reduction in site revenues resulting from the temporary closure
of a number of the Company's sites and the restrictions on
household mixing in place under the Government's COVID related tier
systems.
In Spring 2020, the Company launched a new element of its
strategy to develop products which could be played remotely, were
not limited to the capacity of physical rooms, could be delivered
digitally, and would form a core part of the 'Escape Hunt for
Business' proposition. Whilst the strategy initially aimed to
combat the loss of business due to closures forced by the
Coronavirus pandemic, the Directors regard the development of the
digital and remote play products as strategically important for the
long term growth of the Company, providing the ability to target
new customer segments and build a strong B2B brand.
So far in December, across six digital propositions aimed at the
B2B market specifically, the Company has delivered nearly 200
bookings, comprising over 1000 corporate teams and over 6000
individuals. As a testament to the scalability of the products, the
largest attendance in a single game had 347 people split between 57
teams playing in the same game all hosted by the Company's in-house
delivery team.
The digital strategy was initially launched with the successful
release of print-and-play games in April 2020, which ultimately led
to an agreement with Netflix to develop a game based on the
Netflix(TM) original film, Enola Holmes(c). This suite of games is
still proving popular with consumers and the downloads are not
included in the numbers above. Moreover, with the licensing
agreement announced in September enabling the Company to develop
and market proprietary games, there are now 17 products on offer
across a number of propositions.
With the UK continuing to face strict rules regarding
socialising and mixing, the development of the digital suite is
timely, as consumers wishing to enjoy our experiences are able to
do so virtually if not physically.
Commenting on the site developments, Richard Harpham, Escape
Hunt's CEO said:
"We are absolutely delighted with the success of this important
part of our strategy to date. We have benefitted enormously from
the fact that companies have looked to offer their staff a remotely
delivered social event for Christmas in light of the Coronavirus
restrictions. The success has demonstrated our ability to deliver
large-scale events remotely which we believe can be applied to a
number of B2B opportunities outside Christmas and the Coronavirus
pandemic. This would include corporate team building events,
learning and development, outdoor events, and conferences. We will
continue to invest in this part of our business as we seek to build
on our success, create greater scalability within our products, and
deliver a successful digital business to sit alongside our hugely
popular physical rooms."
Enquiries
Escape Hunt plc
Richard Harpham (Chief Executive Officer)
Graham Bird (Chief Financial Officer) +44 (0) 20 7846
Kam Bansil (Investor Relations) 3322
Shore Capital - NOMAD and Joint Broker
Tom Griffiths, David Coaten (Corporate Advisory) +44 (0) 20 7408
Fiona Conroy (Corporate Broking) 4050
Zeus Capital - Joint Broker
John Goold +44 (0) 20 3829
Daniel Harris 5000
IFC Advisory - Financial PR
Graham Herring +44 (0) 20 3934
Florence Chandler 6630
Notes to Editors
About Escape Hunt plc
The Escape Hunt Group is a global leader in providing
escape-the-room experiences delivered through a network of
owner-operated sites in the UK, an international network of
franchised outlets in five continents, and through digitally
delivered games which can be played remotely. Its products enjoy
consistent premium customer ratings and cater for leisure or
teambuilding, in small groups or large, and are suitable for
consumers, businesses and other organisations. Having been
re-admitted to AIM in May 2017, the Company has a strategy of
creating high quality premium games and experiences delivered
through multiple formats and which can incorporate branded IP
content. (https://escapehunt.com/)
Facebook: EscapeHuntUK
Twitter: @EscapeHuntUK
Instagram: @escapehuntuk
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRABCBDDGUDDGGG
(END) Dow Jones Newswires
December 21, 2020 02:00 ET (07:00 GMT)
Xp Factory (LSE:XPF)
Historical Stock Chart
From Jul 2024 to Aug 2024
Xp Factory (LSE:XPF)
Historical Stock Chart
From Aug 2023 to Aug 2024