blinkx boosted by Olympics
May 13, 2013
Video search engine blinkx has revealed that its full year revenues have grown by 73 per cent to $198 million.
Adjusted pre-tax profits were $24.6 million, an increase of 129 per cent from the year before. This growth has in part been attributed to the London Olympics and the Presidential elections – as web users logged on to view videos from 2012’s big events. Strong growth in the broader online advertising industry in general and the huge demand for online video in particular has also propelled blinkx’s growth.
Brian Mukherjee, blinkx chief executive, said: “Several structural trends are fuelling the growth of the online advertising industry in general, and the video advertising sector in particular. These include widespread broadband adoption, the proliferation of connected devices and the rapid migration and consumption of video content online – all of which are prompting advertisers to follow audiences online. This year, the industry also benefited from the increase in advertising spend attributed to two high-profile events – the summer Olympics and the US political campaigns in a Presidential election cycle.”
He added: “This has been an exciting year for blinkx and we are delighted to report a record performance. The business demonstrated strong underlying growth, stability and efficiency, which was accelerated by the ahead-of-schedule integration of the acquisitions that we made last year. The scale, scope and reach of these acquisitions enabled us to serve a greater number of advertisements to a wider audience at robust monetisation rates, which helped drive our growth.”