Meteoric Rise for Rentrak's TV Everywhere

Movie and TV audience measurement provider Rentrak has announced financial results for the quarter ended June 30th, with total revenue up 34% to $22.3m. Seven eighths of the increase came from the firm's TV Everywhere business, which saw an 84% rise to $10.5m and promises more of the same.

Revenue for the Movies Everywhere unit rose 14% to $7.4m, and OnDemand Everywhere and other business were static at $3.2m and $1.2m respectively. The firm says it expects this level of growth in TV Everywhere - c.80% - to be sustainable for 'several years' - which if not optimistic would give the division revenue of $100m a quarter by 2018.

Gross margin rose from 62% to 66% vs the same period last year, with costs largely fixed and revenue increasing. Reported operating loss for the quarter was down from $2.3m to $1.4m year-on-year, with Rentrak estimating the figures once extraordinary items are removed as $942k and $122k respectively. Adjusted EBITDA rose from $440k to $1.6m.

Vice Chairman and CEO Bill Livek (pictured) says of the results: 'Rentrak continues to make substantial progress with multichannel programming distributors, TV networks, local television stations, movie studios, and advertisers and their agencies, as well as with automated ad tech TV buying platforms. We are continuing to identify new ways to provide innovative products that help our clients run their businesses more profitably.'

Rentrak's most recent full year results - fiscal 2014 ending March 31st 2014, saw revenue up 33% to $75.6m. Recent milestones include business wins with three NBC owned and operated television stations and all 29 of Fox Television's stations; and overall expansion of its local TV client base by more than 50% to around 350 station clients.

Web site: www.rentrak.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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