Podcasting Firm Wizzard Announces 83% Revenue Growth
Aug 18th, 2007 | By James Lewin | Category: Making Money with Podcasts, Podcasting ServicesWizzard Software, a leading podcast hosting network, has announced that it recorded record revenues of $1,428,097 during the second quarter ended June 30, 2007, an 83% increase from the second quarter of 2006 and a 97% increase over revenues in the first quarter of 2007 ($725,926). For the six month period ended June 30 2007, Wizzard recorded revenues of $2,154,023, a 56% increase over revenues of $1,384,437 for the same period in 2006.
Wizzard announced record downloads for its Wizzard Media podcasting business, where it received over 85 million download requests for all hosted podcasts.
Subsequent to the close of the second quarter, Wizzard closed a $7.5 million round of financing and as a result, the second quarter financials include no “Going Concern” note to the financial statements for the first time in the Company’s history. In August, 2007, Wizzard announced that it made application to list the Company’s common shares on the American Stock Exchange and signed legendary musician, composer, producer Quincy Jones to an exclusive podcast advertising agreement.
“Wizzard’s overall revenues continue to grow and we expect that to continue throughout 2007 and into 2008,” said Chris Spencer, CEO of Wizzard Software. “Our legacy software and healthcare revenues continue to grow but it is our podcasting business where we see hyper growth potential. As we begin to help podcast publishers monetize their shows and supporting properties, we believe our revenue growth will accelerate substantially.”
[…] Podcasting is moving into Gartner’s “Slope of Enlightenment” stage. Podcast adoption continues at a rapid pace, awareness about podcasting is up about 70% over last year, podcasting companies are announcing record revenue growth, there are now two expos devoted to portable media, companies are experimenting with podcasting and advertising dollars are moving in. […]