After reading this on ValleyWag:
“YouTube, he told NewTeeVee, is only going to earn revenues of about $70 million to $90 million in 2008. InVideo ads - the kind Sanchez claimed Google ripped off - will be an even smaller part of the pie.”
I recognize this isn’t apples to apples. These are 1999 dollars, broadband penetration was dramatically lower back then and we weren’t an advertising supported mode, but then again, we didn’t pay to subsidize the bandwidth of every non commercial video on the internet and do everything we possibly could to avoid copyright law.
I just can’t help but post a link to my original article and a Broadcast.com quarterly release. If only we had today’s bandwidth costs back then…
broadcast.com Reports Record Second Quarter Revenue Revenue Increased 130% From Same Period in 1998 - Company Financial Information
Broadcast.com (Nasdaq: BCST) Wednesday reported revenue totaling $13.5 million for the second quarter ended June 30, 1999, an increase of 130% over $5.9 million in the same period in 1998, and a 31% increase over the first quarter of 1999. Net loss for the second quarter of 1999 was $1.9 million, or $0.05 per basic and diluted share. This compares with a net loss of $3.5 million, or $0.11 per basic and diluted share during the second quarter of 1998.
Broadcast.com posted strong revenue growth, with revenue from Business Services increasing to $9.5 million for the second quarter of 1999, a 138% increase over the same period of 1998 and an increase of 34% over the first quarter of 1999. Business Services revenue represented 71% of the total revenue reported. Advertising revenue increased to $4.0 million for the quarter ended June 30, 1999, an increase of 114% over the same period of 1998 and an increase of 25% over the first quarter of 1999.
Todd Wagner, chief executive officer of broadcast.com said: “We continue to expand our turnkey business-to-business Internet broadcasting services, as we delivered 960 events in the second quarter of 1999, more than double the number of events in the second quarter of 1998 and a 45% increase over the first quarter of 1999. In addition, our recently signed agreement with Level 3 Communications allows us to deliver high- quality broadband content to mass, scalable audiences, demonstrating our commitment to continuing to scale our network to provide our customers with a complete, end-to-end broadband and digital media solution.”
Broadcast.com (Nasdaq: BCST) is the leading aggregator and broadcaster of streaming media programming on the Web with the network infrastructure and expertise to deliver or “stream” hundreds of live and on-demand audio and video programs over the Internet or intranets. The broadcast.com Web sites offer a large and comprehensive selection of programming, including sports, talk and music radio, television, business events, full-length CDs, news, video, commentary and full-length audiobooks. Broadcast.com broadcasts on the Internet 24 hours a day, seven days a week, and its programming includes 420 radio stations and networks, 56 television stations and cable networks, and game broadcasts and other programming for over 450 college and professional sports teams. Broadcast.com also provides Internet and intranet broadcasting services to businesses and other organizations, including turnkey production of live and archived press conferences, earnings conference calls, investor conferences, trade shows, stockholder meetings, product introductions, training sessions, distance learning telecourses and media events. For more information on broadcast.com and its live and on-demand programming, visit www.broadcast.com.
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