Wizzard Revenues Up, Losses Down

Aug 12th, 2008 | By | Category: General, Making Money with Podcasts, Podcast Distribution, Podcast Hosting, Podcasting Networks

Podcast hosting service Wizzard Software has announced its second quarter 2008 financial results. They report that revenues are up, expenses are down and losses are decreasing:

  • Wizzard reports revenues for the second quarter of 2008 of $1,465,874, a 3% increase over revenues of $1,428,097 in the second quarter of 2007
  • Operating expenses totaled $2,159,433, which was a 30% decrease from operating expenses of $3,104,138 in the second quarter of 2007.
  • Wizzard’s net loss available to common shareholders was $1,998,225, or $0.04 per share, in the quarter ended June 30, 2008. This represents a 30% decrease from their net loss of $2,866,308, or $0.07 per share, in the second quarter of 2007.

In their statement, Wizzard highlighted several second quarter growth figures:

  • Wizzard’s publishing platform grew by over 1,500 new shows and 54,000 new episodes
  • Wizzard Media grew to over 15,000 publishers using its service
  • Wizzard signed 20 new network publishers to its PRO enterprise platform
  • Download requests grew to 241,600,000, from 196,700,000, in the second quarter, 2007

“By focusing our efforts on high quality, episodic, subscribable content, we feel strongly that we are in a position to generate substantial revenues and profits in the future through advertising as we continue to execute on our business plan,” said the company. “We have several repeat advertisers – a true testament to our methodology – and we have seen a significant increase in requests for proposals and closed deals including Panasonic, SpikeTV and Puma.”

The company also noted that it plans to release a flash media player that will support social networking, and stated that the company believes that “Wizzard has now become the definitive name in podcast distribution and is at the vanguard of the online digital media movement.”

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No Responses to “Wizzard Revenues Up, Losses Down”

  1. […] Wizzard’s press release about it’s Q2 2008 financial results. Both Paul Colligan and Podcasting News have highlighted the “bright” points of Wizzard’s press release. For those that […]

  2. Ed Roberts says:

    It’d be nice if they segmented out the media side of their business. This number includes their speech technology offerings.

  3. Mr. Knowitall says:

    YOu should read the 10Q. It’s a trainwreck….running out of cash….Lots of revenue in HealthCare Company!! Very Little Revenue in PodCasting….Smoke and Mirrors.

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