IO World Media Revenue Jumps On Bubba Streaming
May 17, 2011 at 2:13 PM (PT)
IO WORLD MEDIA, which streams BUBBA THE LOVE SPONGE on the Internet, reported that Q1 revenues rose 61.4% to $293,000. It also reported a net loss of $248,000, but the company expects that to be more than made up by revenue that was received during the very successful launch of RADIOIOLIVE and the Early Enlistment Program for the BUBBA ARMY, which will be recognized over the three-year life of the Early Enlistment subscriptions.
A FEBRUARY promotion to launch BUBBA’s uncensored show raised nearly $1 million in discounted subscription revenues, which explains why IO had a little over $760,000 of cash on hand at the end of Q1.
"We are pleased with our results from operation in the first quarter due to the fact that we have seen a significant increase in revenue from both subscription and advertising sales," IO WORLD MEDIA CEO THOMAS BEAN said. "Further, we have worked diligently to control cost while continuing to improve not only the products that we deliver but our delivery platform as well."