NEWS9 November 2021

Comscore reports strong results for third quarter

Financials News North America

US – Media measurement and analytics company Comscore’s revenue for the third quarter of 2021 rose by 5%.

Business data

Revenue reached $92.5m compared to $88m last year. The growth is attributed to increases in TV, custom solutions, Lift and Survey and Activation, offset by lower syndicated digital revenue. Net income was $2m compared to a net loss of $11.1m in 2020.

Ratings and Planning revenue was $62.1m in the third quarter of 2021, down 1% from $62.7m in 2020. The decrease was the result of lower syndicated digital and cross-platform audience products offset by higher TV revenue.

TV continued to experience higher revenue compared to the prior year from new partnerships and increased agency use.

Syndicated digital revenue was lower compared to the prior year, primarily due to smaller customers who continue to be impacted by ongoing industry changes in ad buying and consolidations.

Analytics and Optimization revenue was $22.5m, up 29% from $17.4m last year. The increase was related to higher revenue across all product offerings, including Activation, custom solutions and Lift and Survey. Activation experienced a 38% increase and 7% sequential growth as the company “continued to bring new solutions to market”.

Movies Reporting and Analytics revenue was $7.9m in the third quarter of 2021, up 1% from $7.8m and up 5% sequentially, as consumers return to cinema venues.

“This was a strong quarter for Comscore, as we reported our highest revenue number in seven quarters and our highest revenue growth rates in eleven quarters,” said Comscore CEO and executive vice-chairman Bill Livek.

“We also reported adjusted EBITDA at a level we haven't seen in many years. There are significant changes taking place in media measurement and Comscore is front and centre. There is a tremendous opportunity for Comscore as it positions itself as the new currency, which we expect will continue to drive revenue growth in the fourth quarter of 2021 and into 2022.”