Today was a great day for Modavox Incorporated as they proudly released their monthly average unique visitors statistics for January and February of 2008. For these two months, Modavox had an average in excess of 5 million unique visitors to the company’s websites and their patented advertising platform. The company’s newest advertising platform, Stream Syndicate, alone generated 2.3 million of those visitors.
Chief Technology Officer, Nathaniel Bradley, commented on the statistics by saying, “We’re pleased with the considerable growth in our audience and unique visitor count to in excess of 5 million. Our figures indicate that in 2006, we had approximately 500,000 monthly average unique visitors while in 2007, we had roughly 2.2 million. To see current monthly averages now breaching the 5 million mark this early in the year is clearly very encouraging; especially in light of some of our just recently launched initiatives aimed at further enhancing audience growth.”
In 2006 the company saw revenues of $1.4 million, but realized a net loss of nearly $2.2 million. This has dramatically changed for 2007 where they saw revenues increase to $2.66 million and narrowed their net loss to only $0.5 million. This 53% increase is attributed to increasing advertising revenue, and with 2008’s already impressive visitation numbers, shareholders can anticipate further growth.
Thirty four year old CEO David Ide said, “In this day and age where online advertisers are seeking to increase their return on investment for their online ad spending, through means such as targeted and behavioral advertising, it’s important to note that not only do we have a patented advertising platform that provides those features, but our Internet radio audience is primarily niche oriented. This combined with the fact that our typical user is indicated to stay online an average of 15-20 minutes, makes this audience potentially very ripe for online advertisers to monetize.”
“Lastly, considering the multitude of completed acquisitions in the space that could serve as potential comparables for valuing unique visitors, we are led to believe that continued growth in our own audience will complement our on-going efforts toward building sustainable long term shareholder value,” he concluded.
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