Athletic portal and online destination for fans
•Created an all-new Ivy League Conference subscription-based digital network that provides each member school with its own individual channel in addition to a conference-wide channel covering all the conference's schools, sports and events.
•Signed several new collegiate digital and ticketing partnerships with schools including Oklahoma University, the University of Nebraska Omaha, Old Dominion University and Fairfield University.
•Broadcasted Digital Dudes live from Sports Video Group's College Sports Summit in Atlanta, Georgia. With 12 sessions over the two-day conference, Digital Dudes covered a variety of topics and hosted speakers from the Big 10 Network, the Ivy League Conference, the Pac-12 Conference, Learfield Sports, the University of Miami, Duke University and others.
Multi-device content delivery
•Partnered with SENSIO Technologies to deliver 3DGO!, a streaming 3D VOD channel that offers consumers access to an exceptional 3D experience at home in terms of quality, premium 3D content and user-friendliness. The NeuLion TVE Platform is responsible for the storefront interface and back-end delivery for instant access to SENSIO's movie library of high-quality 3D entertainment.
•Signed multi-year agreement with Bright House Networks to provide live streaming of high school sports to fans on multiple Internet-connected devices.
•Selected by Participant Media to design and deliver the new cable network's downloadable interactive app called Pivot. As a brand-new general entertainment network that targets 18-30 year olds (millennials), all live and on-demand content will be streamed to multiple digital devices and available to either authenticated Pay TV subscribers or to broadband-only subscribers, giving viewers an incredible digital destination to access anytime, anywhere.
Financial Results for the Three Months Ended June 30, 2013:
Revenue was $11.0 million, as compared to $8.7 million for the three months ended June 30, 2012, an increase of $2.3 million, or 26%.
Cost of revenue, exclusive of depreciation and amortization, was $3.2 million (29% of revenue), as compared to $3.1 million (35% of revenue) for the three months ended June 30, 2012, marking a period-over-period change of $0.1 million, or 3% (6% of revenue).
Operating loss was $(1.0) million, as compared to $(3.4) million for the three months ended June 30, 2012, an improvement of $2.4 million.
Consolidated net loss was $1.3 million, which includes $1.5 million of non-cash and/or non-operating charges, resulting in Non-GAAP Adjusted EBITDA of $0.2 million, as compared to a consolidated net loss of $3.5 million, which includes $2.0 million of non-cash and/or non-operating charges, resulting in Non-GAAP Adjusted EBITDA of $(1.5) million for the three months ended June 30, 2012, marking a period-over-period improvement in Non-GAAP Adjusted EBITDA of $1.7 million.
Financial Results for the Six Months Ended June 30, 2013:
Revenue was $22.9 million, as compared to $19.1 million for the six months ended June 30, 2012, an increase of $3.8 million, or 20%.
Cost of revenue, exclusive of depreciation and amortization, was $6.6 million (29% of revenue), as compared to $7.6 million (40% of revenue) for the six months ended June 30, 2012, marking a period-over-period improvement of $1.0 million, or 13% (11% of revenue).
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