NEWS13 August 2021

Comscore Q2 revenues down on 2020

Covid-19 Financials News North America

US – Comscore’s revenues fell year-on-year in the second quarter of 2021 with net losses and expenses also rising, albeit with growth in television and marketing income, according to its latest financial results.

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The results for the three months to 30th June show that revenue was at $87.7m compared with $88.6m in the same period in 2020.

Comscore had a net loss of $18.5m compared with a $10.4m loss in the prior-year quarter.

The financial results show that ratings and planning revenue was $62.4m in the second quarter of 2021 compared with $63.8m in 2020, due to lower syndicated digital and cross-platform audience products offset by higher television revenue.

Analytics and optimisation revenue was $17.8m million in the second quarter of 2021, a rise from $16.9m a year previous.

Movies reporting and analytics revenue was $7.5m, which while lower than the $7.9m revenue in the same period in 2020, was up 10% sequentially.

Comscore said it expected that as more cinemas reopened in US and Europe following Covid-19 restrictions, revenue from the firm’s film business will increase throughout the rest of 2021.

Expenses from cost of revenues, sales and marketing, research and development, and general and administrative were $92.3 million compared with $84.5 million a year ago.

The increase relates primarily to higher data costs and professional fees, which were also offset by lower panel costs, facility costs and other general operating expenses.

Comscore said that expenses in the second quarter of 2020 were “abnormally low” due to temporary cost saving measures taken by management at the start of the pandemic.

Bill Livek, chief executive and executive vice-chairman of Comscore, said: “This quarter we saw solid performance in many areas of our business, signing many new customers that we expect to increase revenue in the second half of the year.

“With movie theatres beginning to reopen, we expect to see a healthy rebound in that business as well over the coming quarters.”

@RESEARCH LIVE

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