Fife pay-TV firm’s focus is on growth – not profit

Kirkcaldy tech firm wins new customers and increases revenues

A Fife firm which helps companies manage their pay TV subscriptions saw its revenues rise by more than 20% last year.

Paywizard, which employs 120 staff at John Smith Business Park in Kirkcaldy, handles TV subscriptions and billing for domestic and international clients.

The company brought several new software products to the market which integrate artificial intelligence last year.

Paywizard also signed up key UK client BT Sport to facilitate pay-per-view purchases for its Box Office HD channel.

Newly-published company accounts show the firm’s sales rose to £7 million for the year ending December 31 2018, a £1.2m increase from 2017.

However, Paywizard’s pre-tax loss widened from £1.8m to £1.9m last year.

Founder Ronald Millar said the company’s focus was on investing in the development of software and increasing revenue.

He said: “The business has carried on with the progress increasing the turnover to short of £7m.

“In terms of the operating loss, three years ago we were losing £2m, then £1m, then last year it was about half a million on the operating side.

“Making a profit is not a core target for the business. The core target remains investment in the product and growing the revenue.

“The shareholder base is looking at how much of a loss can we afford for you to achieve that.”

Paywizard also supplies services to ITV in the UK and the firm has customers in the Far East, Scandinavia and Africa.

Mr Millar said the firm’s new suite of products had gone down well in the marketplace.

“The new subscriber management platform has artificial intelligence which has really gone down well in the marketplace, winning us new customers,” he added.

“This market continues to grow and we are doing things at the leading edge of what’s happening in terms of how businesses are looking at their customers and engaging with their customers.

“We are at the forefront of that and it’s brought great opportunities.”

Paywizard’s premises at John Smith Business Park in Kirkcaldy, top. Above, director Ronald Millar.