NEWS28 February 2020

Revenues down for Comscore but Comcast deal agreed

Financials Media New business News North America

US – Cross-platform media measure company Comscore has reported $388.6m revenue for 2019 – compared with  $419.5m for the previous year.

Its adjusted EBITDA was $6.2m, down from $16.4m in 2018. However the business pointed to its Q4 revenue of $95.2m (compared to $109.3m in Q4 2018 ) as evidence of its turnaround plan in action.

It also announced that it had reached an agreement with Comcast to integrate set-top box viewing data from Comcast homes into its local and national measurement services.

Up until now Comcast has not made its consumer data available to audience research companies, which has limited the accuracy and geographic coverage of set-top box data-based ratings.

Bill Livek (pictured), CEO and executive vice-chairman of Comscore, said: "Our fourth-quarter results demonstrate that our turnaround plan is working. We are encouraged by our operating performance, particularly in syndicated digital which showed improvement in the quarter, and local TV.

"We will continue our focus on managing expenses while we shift our efforts towards revenue growth. We are also announcing a measurement agreement with Comcast that will greatly improve our direct measurement of television households across the US. It is a major step in our ongoing journey toward more precise measurement, helping us develop better products to serve our customers and drive revenue growth in the coming years."

The company said that based on current trends and expectations, it expects full-year 2020 revenue to be between $390 and $410m, driven by growth in TV and addressable advertising. The company expects an adjusted EBITDA margin of 7% to 10% of revenue for the full year 2020, based on the impact of 2019 cost reductions and a continued focus on expenses.

@RESEARCH LIVE

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