NEWS30 October 2009

Research revenue down at Progressive Digital Media

Financials UK

UK— Research revenue fell 4% during the year ending 30 April 2009 at Progressive Digital Media, formerly TMN Group, according to results released today.

The group, which owns MR agencies ID Factor and ICD Research, saw research revenues fall to £2.6m from £2.7m in 2008.

Overall, group sales rose to £28.8m from £22.5m. CEO Simon Pyper said: “The enlarged group’s continued investment in digital content, digital delivery platforms and operational infrastructure should allow the business to deliver long-term profitable growth and ensure that we are all well placed to exploit market opportunities and developments.”

TMN was taken over by Datamonitor founder Mike Danson’s (pictured) Progressive Digital Media Group earlier this year in a reverse acquisition.