Rentrak Q2 Income Down Slightly2 Nov, 2010 By: Erik Gruenwedel
A decline in its signature disc rental revenue-sharing program contributed to Rentrak Corp. posting second-quarter (ended Sept. 30) income of $408,000, compared with income of $676,000 during the previous-year period.
Portland, Ore.-based Rentrak said revenue for its home entertainment division fell $400,000 to $15.9 million, compared with $16.9 million last year.
The company’s transition to a media measurement service provider continued as it recorded a 65% increase in revenue to $8.3 million for the advanced media information (AMI) unit.
The AMI unit, which included revenue of $1.1 million from TV Essentials, $4.4 million from Box Office Essentials and $2 million from OnDemand Essentials, represented 34% of Rentrak’s consolidated revenue, compared to 24% last year.
“This quarter we continued to make progress with our multi-screen database currency as we strengthened our position as the market leader in providing must-have media measurement services to the entertainment and advertising industries,” CEO Bill Livek said in a statement.
Rentrak expects its Box Office business to grow about 5% annually, with VOD tracking expected to grow 15% year-over-year. Home entertainment business should decline from 5% to 10% per year.