Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

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

Paywizard at John Smith Business Park in Kirkcaldy.
Paywizard at John Smith Business Park in Kirkcaldy.

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 a range of 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, Scandanavia 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.”

rmclaren@thecourier.co.uk