Revenues jump 80% but losses prevail at Yangaroo

TORONTO – The shift by the music and advertising industries towards digital media distribution had a positive impact on Yangaroo’s fourth quarter and 2011 financial results. The Toronto-based digital media distribution company reported an 80% year-over-year jump in revenues to $1.45 million, but still recorded a net loss of $4.6 million for the year. EBITDA improved to ($3.52 million) from ($4.28 million) at the end of 2010. Revenue for the fourth quarter ended December 31, 2011 was $455,756, 80% higher than the revenue for the same period in 2010 and 11% higher than the previous quarter. Yangaroo explained the revenue...