Score Media Inc. says its revenue crept ahead in the first quarter, driven by strong advertising growth on its mobile platforms.
The company, which owns theScore Television Network as well as satellite radio and Internet services, credited its fast growing mobile platform for much of the revenue growth it has seen this year.
Page views of its mobile apps for BlackBerry, iPhones and other smartphones are close to 75 million per month, it said.
“The interesting thing is that 65% of this growth is coming from outside Canada, where no one’s ever heard of the Score TV,” John Levy, the Score’s chief executive officer, said at the company’s annual general meeting.
Mobile ad sales this year increased 140% and the company expects mobile and other new platforms to exceed those from television.
The Score recently acquired NuLayer, the company that developed its iPhone and iPad apps, in a move that Levy said would help grow its mobile business in the future.
During the quarter, revenue rose 4% from a year earlier to $11.9 million.
Net income dropped 21% to $839,000 from $1.1 million a year earlier when revenue was $11.4 million.
Profit as measured by EBITDA was $2.6 million, down from $3.3 million in the same period last year or $2.5 million excluding the positive impact of a $800,000 regulatory fee reversal.
“Our business continues to evolve quarter after quarter and this quarter is no exception,” Levy said in a statement.
“Our growth in both revenue and EBITDA gives us continued confidence in our business and product roadmap and leaves us well positioned to deliver on exciting new offerings planned for this coming year.”
