Rentrak Q2 Profit Up 75%7 Nov, 2006 By: Erik Gruenwedel
Double-digit revenue growth in its advanced media and information (AMI) segment and traditional pay-per-transaction (PPT) business helped Rentrak Corp. post second quarter (ended Sept. 30) income of $1.9 million compared to $1.1 million during the same period last year.
Revenues for the Portland, Ore.-based media-measurement company surged 19.4% to $24.1 million compared to $20.2 million last year.
Although representing just 16% or $3.9 million of total revenues, Rentrak continues to invest heavily in AMI, including the Essentials brand that tracks user data for box office, on-demand, supply chain, retail, home video and direct revenue subscription-based clients.
The company announced it had signed multiyear deals with eight new on-demand subscribers, including Aquarius Broadcasting Company, Concert.TV, Hustler TV, Octane and Scripps Networks, which includes HGTV, Food Network, DIY Network and Fine Living TV Network.
Rentrak is also providing on-demand content measurement and analytical information to Penn.-based Atlantic Broadband and Suddenlink, a St. Louis-based MSO.
The on-demand tracking system, which has been upgraded to include easier navigation tools, tabs and menus, now tracks the viewing data and habits from more than 32 million set-top boxes.
“As a result of our strong first half performance, coupled with a strong second-half studio movie rental release schedule and incremental revenues from our new Essentials customers, we now expect revenues of at least $100 million for the full fiscal year, compared to fiscal 2006 revenues of $93.4 million,” said Rentrak chairman and CEO Paul Rosenbaum.