StreamTrack Reports 2014 Q2 Fiscal Results
April 14 2014 - 4:05PM
Business Wire
StreamTrack, Inc. (OTCQB: STTK) ("StreamTrack" or the
"Company"), a digital media and technology services company
operating within the internet radio and streaming media sectors,
today announced results for its second fiscal quarter of 2014. The
quarter was highlighted by:
- An increase in advertising revenues to
$386,810 for Q2 2014 versus $292,095 for Q2 2013.
- A reduction in cost of revenue to
$299,185 for Q2 2014 versus $411,818 for Q2 2013.
- An increase in gross profit to $95,875
for Q2 2014 versus a loss of ($30,641) for Q2 2013.
- A reduction in operating expenses to
$315,056 for Q2 2014 versus $492,644 for Q2 2013.
- An increase in listening hours to
3,386,591 for Q2 2014, from 2,222,296 for Q2 2013 of, a quarter
over quarter increase of over 52%.
- 11.4 cents revenue per listening hour
in Q2 2014 compared to 6.7 cents in Q2 2013, a quarter over quarter
increase of over 69%.
- 138,314 registered members as of
2/28/14 compared to 106,609 registered members as of 2/28/13, a
year over year increase of over 29%.
- 5,456 active radio stations as of
2/28/14, compared to 1,344 active stations as of 2/28/13, a year
over year increase of over 410%.
- 25,178,367 video impressions served in
Q2 2014 compared to 12,618,338 in Q2 2013, a year over year
increase of nearly 100%.
- Completion of core development work
associated with the launch of an artist-based broadcasting
platform.
Michael Hill, Chief Executive Officer of StreamTrack, stated,
"We continue to see our business move in a positive direction. The
numbers we are reporting for Q2 2014 versus Q2 2013 speak to the
dramatic improvements made both to increased revenue and decreased
expenses. The fundamental drivers of our business: listening hours
and advertising rates have increased materially, driving our
success. As our platform becomes more recognized, we have seen
higher demand from advertisers resulting in increased advertising
rates and demand for our platform inventory. We continue to onboard
broadcasters and increase listening hours at aggressive rates. I
look forward to continued positive traction in these areas as well
as the release of key products including our music discovery
platform StreamTrak, RobotFruit and WatchThis, which we project to
contribute greatly to our future success.”
About StreamTrack, Inc. StreamTrack, Inc. (the
"Company") is a digital media and technology services company. The
Company provides audio and video streaming and advertising services
through its RadioLoyalty™ Platform (the "Platform") to over 5,000
internet and terrestrial radio stations and other broadcast content
providers. The Platform consists of a web-based and mobile player
that manages streaming audio and video content, social media
engagement, display and video ad serving within the web player and
is also capable of replacing audio ads with video ads within the
web player in a live or on-demand environment. The Company offers
the Platform directly to its broadcasters and integrates or white
labels its technologies with web-based internet radio guides and
other web-based content providers. The Company is also continuing
development of WatchThis™, a patent-pending technology to provide
web, mobile and IP television streaming services that are
e-commerce enabled within streamed content.
For more information
visit: http://www.streamtrack.com or http://www.radioloyalty.com
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current expectations, estimates and projections about StreamTrack's
industry, management's beliefs and certain assumptions made by
management. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and are subject
to certain risks, uncertainties and assumptions that are difficult
to predict. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. Readers should review
carefully reports or documents the Company files periodically with
the Securities and Exchange Commission.
Investor Relations Contact:StreamTrack, Inc.Michael
HillChairman and Chief Executive Officerir@streamtrack.com+1
805-308-9151
StreamTrack, Inc.Michael Hill, +1 805-308-9151Chairman and Chief
Executive Officerir@streamtrack.com