TORONTO – Despite a 14% jump in revenue, Score Media saw its net income for the first quarter of 2012 plunge from $856,000 to $212,000.
For the three months ended November 30, 2011, revenues were $13.4 million compared to $11.8 million in the same period in 2010. Reporting results for its two core operating segments for the first time, Score Media said that broadcast revenues increased 14% year-over-year to $12.4 million, while digital media revenues were up 16% to $1.0 million.
Consolidated EBITDA for the period fell to $1.9 million from $2.7 million in the same period in 2010, which the sports broadcaster attributed to a planned increase in expenditures on personnel and technology designed to support audience growth of its digital media platforms.
The strategy appears to be paying off as ScoreMobile applications averaged 3.3 million unique users per month in the quarter, growing by more than 1 million unique users per month from the same time last year, while website theScore.com averaged 1.2 million unique users per month, a 140% jump.
“Q1 was an excellent quarter for Score Media,” said chairman and CEO John Levy, in a statement. “Our Broadcast business delivered strong growth in revenue and EBITDA, and our Digital Media segment generated record revenues and audience growth. We plan to continue to strategically invest in our Digital Media business to capitalize on the strong position we have established in the mobile sports market, while continuing to grow our Broadcast business.”
In other company news, Score Media finalized a long-term programming agreement with Fox International Sports Channels that includes at least 250 hours per year of live collegiate content, including top college football, basketball and hockey games, in addition to other Fox Sports and Fuel TV programming.
