Earnings: Live Current Media Grows Revs 27 Percent In Q2; Net Loss Balloons
Live Current Media, the Canada-based domainer and owner of Cricket.com (and who also recently bagged the right to develop the IPL online portal IPL20), has reported Q2 revenue of $1.93 million, up 27 percent year over year. Almost all of the company’s revenue comes from Perfume.com, the domain-driven e-commerce site. Net losses grew to over $2 million, from about $200,000, due to a major spike in management fees and employee salaries—basically, the company is trying to scale into a business and investing now. Release
The company said that besides preparing to launch cricket portal Cricket.com shortly, it will also shortly roll out the official BCCI website BCCI.tv. “This will put us at the helm of three of the premier online destinations for cricket fans worldwide, giving us increasing clout with global advertisers and sponsors who are allocating much more of their ad spend to target the huge Indian and Southern Asian middle class and the highly valued non-resident Indian (NRI) market via internet and digital media,” said Geoffrey Hampson, the CEO of LCM, rather grandly.
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Comments (2)
Aug 19, 2008 6:20 PM
Not sure how the deal with IPL will help them unless they do something which can involve Indian crowd.