JumpTV logs Q4 loss
EmptyTORONTO -- Despite higher revenue from acquisitions, Canadian webcaster JumpTV posted a widened fourth-quarter loss Thursday.
Toronto-based JumpTV said that it lost $10.5 million during the three months ending Dec. 31, compared with a loss of $8.68 million in 2006.
Fourth-quarter revenue came to $4.8 million, against a year-earlier $749,000. The jump was due in large part to the Internet broadcaster's August acquisition of the broadband network division of XOS Technologies.
The Internet broadcaster said it received $2.4 million in revenue from streaming TV signals from international broadcasters to online subscribers during the latest quarter, and pay per view subscriptions contributed another $700,000.
JumpTV secured another $1.24 million from a share of e-commerce transactions and ticketing from sports events whose programming it streams.
For full-year 2007, Jump TV saw its loss widen to $30.6 million on revenue of $9 million, compared with a loss of $25.6 million on revenue of $2.1 million in 2006.
Former eBay Canada executive Jordan Banks replaced Scott Paterson as company CEO last October as part of a reorganization.
In February, the webcaster said it would refocus on online sports and Hispanic programming and spin off its content delivery network.