Wizzard Posts Rosy Q3 Revenue Results

Nov 12th, 2008 | By | Category: Making Money with Podcasts, Podcast Distribution, Podcasting, Video, Video Podcasts

Pittsburgh-based Wizzard Software announced Monday third-quarter revenues of $1,533,339, a 4% increase over revenues of $1,468,476 during Q3 2007. The company also reported revenues of $4,667,690 during the nine month period ended September 30, 2008, a 29% increase over revenues of $3,622,499 for the same period in 2007.

Wizzard provides online publishing tools for podcast media producers, connects advertisers with appropriate media content and distributes the resulting shows to subscribers. Over the past 18 months, the company has also acquired podcast hosting companies Switchpod, Libsyn, and Blast Podcast.

The Wizzard revenue report comes one day after that of Revision3. Rev3 also reported rosy revenues, although that news came in the wake of staff and programming reductions.

In the company’s announcement, Wizzard’s management said they continue to see exceptional network growth: “The potential for monetizing the consumption of media distributed over the Internet and via mobile devices like the iPhone, by connecting advertisers with online media publishers, will significantly surpass the search marketing business in the next 5 to 10 years. We believe Wizzard Media … has the potential to be a significant force in the future of media monetization and distribution over the internet.”

Amidst the improved revenues, Wizzard’s Q3 net loss available to common shareholders was $1,460,219, or $.03 per share, an 85% decrease from our net loss of $9,986,719, or $.24 per share in the third quarter of 2007. Wizzard’s net loss available to common shareholders was $6,210,273, or $.14 per share, in the first nine months of 2008, a 58% decrease from the net loss of $14,647,156, or $.36 per share, in the first nine months of 2007. A recording of the company’s earnings conference call is available here.

According to the company announcement, Wizzard Media has grown to 17,000 content publishers (up from 7,000 in March, 2007), with over 3,300 new publishers added in the 3rd Quarter of 2008 (vs. 900 in the third quarter of 2007). Over 88,000 new episodes of publishers’ shows were added in the 3rd quarter, up from less than 45,000 new episodes in the 3rd quarter of 2007.

Wizzard also recently launched new podcast publishing tools for their content creators. Wizzard has been effectively using its advertising insertion system, Alchemy, for 10 months now with great technical success.

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