In the quarterly and year-end financial report it issued Thursday, Score Digital posted annual revenues of $4.2 million, a slight increase over its 2011 revenues of $4.1 million.
The Toronto-based sports media company’s digital subsidiary had fourth quarter revenues of $1.3 million, a $3 million gain over the same quarter in 2011.
EBITDA loss for the year was $6.5 million, a significant increase over its 2011 loss of $4.3 million, which theScore attributes to spending on the technology and personnel supporting its growing digital platforms.
In 2012, Score’s spending on technology more than doubled from $1.1 million to $2.7 million. The focus on its digital platforms have helped it achieve record growth on its website and mobile apps. In its peak month, March, TheScore.com received 120 million hits from 3.5 million users. In the same period, its mobile apps, including its flagship ScoreMobile iPhone app, had 1.9 million active users.
Its personnel costs also rose from $3.1 to $3.4 million in 2012.
This is the company’s first financial report since August when Rogers Media announced an agreement to buy Score Media, the broadcasting side of the business, for $167 million. The Score’s shareholders approved the deal in October.
CEO and chairman John Levy said the company is moving forward with “theScore as a stand-alone business” and will continue its focus on its digital platforms.
“Our goal is to create the ultimate digital service for sports fans across web and mobile platforms, and we are hitting the ground running. Our mobile apps and website both achieved substantial growth in monthly active users over the past year and we will build on this success with a robust product roadmap planned for fiscal 2013.”
