Good Life Plus: A lifestyle subscription with a difference
A new name in the luxury prize draw space has been making waves in markets since listing on Aquis in December and for good reason. () appears to have cracked the formula for rapid and scalable success in the sector with its unique offering that combines traditional prize draws with value-oriented perks, deals and discounts, all packaged into attractive subscription tiers ranging from free to £29.99.
Based on a membership model and facilitated by all modern advances of social media, such as livestreams and interactive prize draws, Good Life Plus has seen rapid growth in subscriber numbers and increased interest from investors across the space and beyond.
Key to the company's early success has been its value offering. On one hand, it offers a product that grants access to hundreds of deals, rewards, discounts, perks and other benefits for a monthly fee, where the benefits significantly outweigh the cost for members active on the platform. It offers a freemium element in there too, which draws in new free-tier members who are then incentivised to extract more value via a paid tier. This value ultimately comes from the brand partners who want new customer business, which is a familiar business model.
But where Good Life Plus's true innovation lies is in combining its value-oriented product with the entertainment and excitement of interactive daily prize draws where members can win high-value prizes ranging from laptops to cars, or cash equivalents. Unlike a traditional lottery model, these prizes are given out on a daily basis, keeping members engaged and excited. And if they don't win, they still get value out of their membership from the aforementioned value side of the model.
This fusion product has proven highly successful so far, with Good Life Plus reporting very good initial growth in subscriber numbers and teasing more positive growth stats to be released in the coming months. The company revamped its branding and website at the end of January and recently secured an additional £2m of funding, all contributing toward further and faster customer acquisition and retention.
We believe the rapid growth in subscribers and innovative model promise significant upside. But don't take our word for it. Industry heavyweights have taken notice and jumped onboard, with many now present on Good Life Plus' board and in high executive roles, and bringing expertise that's set to turbocharge the business.
One such name is Mark Blandford of Sportingbet fame who took that company close to the US$1bn market cap mark before selling it to Entain. Blandford's private investment vehicle was responsible for most of the aforementioned £2m fundraise, which came only 3 months after 's successful IPO that established a £12m market cap.
Other notable names on 's executive dream team are Victor Chandler of BetVictor who scaled that company into a juggernaut; John Gordon, CEO of Incentive Games - the global F2P gaming software provider; David Ivy as CTO, founder of Dotdigital - another big success story on AIM; and Ian McCaig on the B2C/marketing side of things who co-founded Qubit and FIIT and is known for his pioneering work in the early days of Google.
And last but not least, David Craven has joined Good Life Plus as Chairman. Craven is well-known in the global gaming sector, most recently as CEO of Allwyn Entertainment where he played a key role in securing its fourth National Lottery Licence. This followed a competitive bidding process that saw Allwyn acquire incumbent operator Camelot who had held the license for 30 years.
To attract talent and keep all high-level staff and stakeholders incentivised, Good Life Plus has also introduced an options package, which is further indication of expected upside as the above industry heavyweights have bet their compensation on the success of the company. CEO Charlie Chadd says subscriber growth and a rising CAC-to-LTV ratio (average cost of acquiring a customer to the average lifetime value of a customer) are top priorities, which tracks 's performance so far.
Prior to IPO, boasted over 21,000 active subscribers - a 138% increase over the previous year, with monthly recurring revenues of £210k, similarly up 144% year-on-year. Following a rebranding from Semper Fortis Esports to Good Life Plus, the company raised an impressive £1.4m through a subscription of 70m shares at 2p each, which combined with Mark Blandford's £2m investment provides plenty of runway for further growth.
is an innovative company in its early stage of growth that we advise investors interested in the entertainment space to , as further significant subscriber growth and upside are expected over the next 24 months.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.