NaveedAli83Whilst the Marketing expense needs to be watched...

NaveedAli83

Whilst the Marketing expense needs to be watched going forward ( a big number), the sharp YOY increase can be justified when you consider the very material shift on Revenue originated via 'Work for Hire' versus 'Original IP'. In FY20, WFH contributed 76% of the Revenue with Orig. IP contributed 24%. Turn the clock forward 1 YR and Orig. IP has increased to 67%. A simple case of sharing in the spoils ( with minimal risk) vs owning the release, carrying the full risk of success, but enjoying the Total Reward for success.

In FY22, we can look forward to several new releases (based on PLY's original IP). The Company have paved the way for this day and provided they hit the mark on content, the rewards should be considerable. As investors, we only get to measure the ROI on the Marketing spend in the months / years that follow the release of new content.

Exciting hold, but not without risk.

Rokewa