Micromobility.com to exit media business, terminate streaming contracts

Micromobility.com, or MCOM, announced a strategic realignment of its business focus by discontinuing its media business. As part of the rebranding initiative, MCOM has terminated its streaming contracts and will discontinue streaming the 3rd season 2023-2024 of League Serie B in Italy and internationally. This strategic decision is expected to yield substantial cost savings of over EUR 14M, bolstering the company’s financial outlook. The company invested substantial resources to establish a streaming platform to provide content to its valued customers. However, in line with its new strategic direction and renewed emphasis on its core mobility sector, the company has decided to refine its business focus and reallocate its resources accordingly. As a result, MCOM has taken the difficult but necessary decision to conclude its streaming contracts for the third season 2023-2024 of League Serie B. By terminating the contracts, MCOM will achieve significant cost savings amounting to over EUR 14M, enabling the company to explore new opportunities and invest in strategic initiatives such as mergers and acquisitions.