SUNFLY - Icerberg alert - Potential 54m earner

SUNFLY - Iceberg alert.  There is a serious flaw in the AFR calculation.

The AFR article suggests 8m revenue in 18 months,

http://www.copyright link/technolog...n-karaoke-venture-with-sunfly-20160120-gm9om1

"The new company is yet to be named, but it is likely to generate $8 million of revenue in the first 18 months, generating about $2.6 million in profit for TV2U."

The AFR article does not quote the number of subscribers to which this revenue is expected.

10 feb ann.

"The app will be first launched in Thailand through distribution partner Radical Enlighten, an established over‐the‐ top (OTT) service provider to major ISPs and Telco’s in South East Asia.  
 Radical Enlighten aiming to have 100,000 subscribers to the app within 12 months of launch"

"Total subscriber numbers are forecast to increase to one million in the next 18‐months through further expansion in Thailand and other global regions. The JV entity is planning on launching the app into a new market every month by first targeting Asia, Latin America, Australasia and Europe before North America."

Bearing in mind Changba's subscription price of $3.2 .

How did the AFR come to only 8m revenue?

A. Assume that it extrapolated the Radical only 100,000 to 150,000 subscribers, (12 to 18 months) would each be paying,
   8m / 18 months / 150k = $2.96 (subscription price seems about right on this assumption)


What is wrong ?

If They have only used (100k for 12 months) 150k subscribers for Thailand only while we expect 1m subscribers in 18 months for additions of a new country /region each month growth.

Hence based on this subscriber price of around $3 would be 54 million in 18 months !

I however, expect that our subscription price to be hotter than that