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*) Amount of new first time registered subscribers. This includes basic subscribers (those who get free access to limited content) and paying premium subscribers.
**) Share of new subscribers who pay for either a 1-day or 30-day subscription. It shall be noted that different trial periods is offered depending on geographical market.
***) Including 1-day and 30-day subscriptions. Note that subscribers can have purchased more than one-day pass during the period. The number includes both new and recurring subscribers. Subsequent reconciliation of sales through mobile operators API's are made quarterly.

Mavshack continued steady sales by selling 251679 subscriptions even in the short month of February 2017. This is an increase of 196% over February 2016 (85 068 subscriptions). Subscriptions via Telco's underwent regulatory challenges this month with the UAE Telecom Regulatory Authority (TRA) passing a directive that makes One Time Password (OTPs) mandatory for all VAS subscriptions. This has caused Mavshack to revise its acquisition flow, adding an additional layer before subscription. This has also resulted in Mavshack's mobile advertising partners having to recalibrate their efforts in view of the new subscription flow. Compounding this challenge was Intigral's withdrawal as Mavshack's VAS aggregator. It is noted that Mavshack was connected to both Viva Kuwait and Viva Bahrain (as well as scheduled to connect with STC KSA) through Intigral. However, due to its change in business concentration, Intigral has now been moved out of the Master Aggregator business by the STC group. Mavshack's business, however, will continue with Viva Bahrain via its new aggregator, T- Pay with whom integration activities are currently underway and shall soon be concluded. On the other hand, Viva Kuwait is expected to give advice on its new aggregator before the end of the current month.

The dual developments mentioned above, plus the additional consideration that the PSL Super Liga was on a season break during the months of January and February, moved Mavshack to purposely hold back on marketing campaigns as it was foreseen that these activities would not be as efficient during this period.

Mavshack expects to face some initial pressure on the subscription numbers but once PSL Super Liga is back on March 4 and the effect of the dual developments have settled down, it is foreseen that better numbers can be expected come Q2 2017 and onwards.