Online video ads specialist bounces into profit
blinkx, the online video search and advertising company, has recorded a $2m (£1.24m) pre-tax profit in the first half of the year, compared with a $7.3m loss during the same period last year.
The company makes all its revenue from advertising. Half-year sales more than doubled from $13m (£8m) in the six months to September 2009, to $27.3m (£16.9m) in the six months to September this year.
The averaged deal size on its AdHoc advertising platform increased by 40%.
Advertisers on the platform now include Nokia, McDonalds, Mercedes Benz and American Express.
The average number of video searches it handles per day also climbed to 31.6 million in the period, from 13.1 million a year earlier.
Suranga Chandratillake, founder and chief executive of blinkx, said: “The six months ending September 30, 2010 have been game-changing. blinkx transitioned into profitability and generated cash, as we more than doubled revenue from the same period last year.
“With video advertising forecast to increase almost 500% over the next four years, per IDC, reaching $11.3bn (£6.9bn) by 2014, blinkx is perfectly positioned to profit from the increasing dominance of online media and the continued momentum towards ROI-driven advertising.
“Given this strong industry backdrop and our market position, we remain confident of the outlook.”
The company also announced today (9 November) that it had signed a deal to power search and recommendation through internet connected-TV boxes made by Amino, the UK set-top box manufacturer.
In May 2007, the video platform launched an initial public offering on the AIM alternative investment market.