NEWS7 November 2014

Rentrak’s TV business up 85%

Financials News North America

US — Media measurement company Rentrak has reported an 85% increase in its TV Everywhere business for Q2 of fiscal 2015 to $13.3m, up from $7.2m for the same period the previous year.

Total company revenue increased 41% to $25.2m for the second quarter of fiscal 2015, up from $17.8 million for the same period last year.

Bill Livek, Rentrak’s vice-chairman and CEO (pictured) said: “We have generated strong momentum over the past few months, including the acquisition of WPP’s Kantar’s US-based television measurement assets, the addition of GroupM as a client and partner and the expansion of our relationship with Fox to include several of its broadcast networks.”

Operating expenses for Q2 were $17.6 million, compared with $13.5 million for Q2 the previous year. The increase primarily related to increases in head count and stock-based compensation expenses.

Operating loss was reduced to $416,000, which included $2.1m in stock-based compensation costs, $600,000 in costs related to the company’s acquisition of iTVX in August 2013 and $270,000 in acquisition costs.  Operating loss for the second quarter of fiscal 2014 was $2.4 million.

Its stated long-term growth plan includes 80% annual growth in its TV Everywhere business through fiscal 2016 and 15% annual growth in its Movies Everywhere business for the foreseeable future.

@RESEARCH LIVE

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