TORONTO – Increasingly a multi-platform sports news and entertainment company, Score Media, owners of sports specialty channel The Score, turned in a strong third quarter financial performance.
Revenue for the three months ended May 31, 2008 was $10.2 million, a 9% increase over the third quarter of fiscal 2007. The company exceeded $10 million in quarterly revenue for the first time in its history, notes its press release. EBITDA in the quarter was $2.2 million, an increase of 16% over Q3 ‘07.
Revenue for the nine months ended May 31, 2008 increased by 6% to $27.9 million compared to the prior year. “This increase was due to increased television subscriber revenue and increased revenues from Hardcore Sports Radio, television barter transactions, and Score Media’s interactive properties that were launched in the past two years,” says the release. However, restructuring charges of close to $1 million so far in 2008 means that EBITDA for the full nine months of the year was $4.33 million 15% lower than the first three quarters of fiscal 2007.
The company also noted that in March, its multimedia push covering NCAA March Madness, which featured extensive coverage of the tournament on television, online, on mobile devices and on video-on-demand, showed marked improvement across the board.
Despite the fact NCAA March Madness information and games can be found all over the place, The Score’s multiplatform push helped push growth in the 18-49 year old male demographic so that television audiences were up 14% over tournament coverage in the prior year. On the web, unique visitors were up 27% versus the same period in 2007. Web coverage of the tournament included an online portal featuring exclusive video content, fantasy analysis, and real-time game blogs, reported the company.
"Q3 was an excellent quarter for Score Media," said John Levy, chairman and CEO. "We achieved record quarterly revenue and EBITDA, and posted solid audience growth in our core live event properties, both on television and online."
"In addition, our cross platform coverage of the NCAA March Madness tournament and the NBA playoffs was very well received by our advertising partners," continued Levy. "Advertisers are increasingly demanding creative integrated solutions and Score Media is well positioned to capitalize on this."
