JumpTv, (JTV.TO)the world's largest provider of ethnic television via subscription over the Internet, reported strong growth for the quarter ending June 30, 2006. They have over 200 channels from over 65 countries, while providing subscribers an array of news, sports and entertainment, real-time, from all over the world. Their subscribers are able to watch the shows through Internet connections on their mobile phones, desktop computers, laptops or Internet-capable television sets.
A couple of highlights in their report:
- We signed exclusive agreements with 66 new channel partners during the quarter bringing us to a total of 204 channel partner agreements, of which 194 are exclusive in nature. This represents a 47% increase from March 31, 2006 when we had 138 channel partners.
- Top channels launched during the quarter included Sony Entertainment Television Asia (SET Asia), Dubai TV, Realitatea from Romania and America TV from Peru.
- We reported a 19.7% increase in net revenue to $426,998 in Q2 up from $356,786 in the comparable quarter a year earlier. We reported a net loss for the period of $6,449,005 in the quarter, up from $988,400 in the comparable quarter a year earlier reflecting the enormous investment we are making in our business.
In spite of the fairly large losses for the quarter, I personally like this company (as a model others can emulate). They are in a great niche and reflect a growing trend of a multi-screen world that we are moving toward.
It seems that they will eventually offer far more channels in the future, reaching the burgeoning online market in emerging countries and markets. They get what is happening in the entertainment world while the Hollywood companies still flounder trying to make things work with their existing business model.
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