Internet-based television provider JumpTV reported Monday a second-quarter loss of $11.5 million or 23 cents per share, widened from its year-ago loss of $6.5 million or 13 cents per share as revenues more than doubled. The Toronto-based company, which in June rejected overtures from MySpace founder Brad Greenspan to instead complete a planned merger with U.S. online TV service NeuLion Inc, said its revenue moved up to US$3.6 million from a year-ago $1.2 million.
JumpTV’s subscribers increased 128 per cent to 68,500 at June 30 from 30,000 in the second quarter a year ago.
“In our sports business, we broadened our client base by adding new teams and leagues as partners and, at the same time, we increased the depth of many of our existing relationships by adding incremental functionality and other technology solutions to their online offerings,” chairman Scott Paterson said in a statement.
“In our international business, we took steps with respect to people and other resources to position our strongest areas of content aggregation — Arabic, South Asian, Hispanic and Caribbean — to be re-energized in the context of our new business plan which will unfold as a result of our planned merger with NeuLion.”
The merger is on track to close on Oct. 1, the company said.
JumpTV is focused on soccer, cycling and U.S. college sports, while NeuLion has rights to National Hockey League games and the International Fight League.
NeuLion is headed by billionaire software developer Charles Wang, who co-founded Computer Associates Inc. in the 1970s and owns various New York sports franchises.
Source: Canadian Press
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