Broadband channel specialist Narrowstep has announced a 118% increase in second-quarter revenues to $1.6m, driven by a 308% increase in its narrowcasting operation.
Narrowstep—which powers more than 100 online channels, among them ITV Local, Teachernet and London TV—said gross profits in the second quarter rose 322% to $949,461, while net losses rose to $1.3m from $0.7m a year ago.
Narrowstep CEO Steve Beaumont said: "We believe that narrowcasting revenues will continue to increase, primarily driven by the addition of new customers and the resulting increase in licensing, bandwidth usage and storage fees.
"The US, Central and South America show continuing opportunity for channel development and sales. As I've emphasised previously, we continue to view the US market as essential and are committed to increasing US-based sales."
Lovelace Consulting | 18.10.2006