Wink's 2nd Qtr. Revenue Soars Along With Loss
Staff -- TWICE, 8/20/2001
ALAMEDA, CALIF. — Interactive television provider Wink Communications reported a 247 percent increase in revenue for the second quarter, reaching $2.2 million, compared with $636,000 in the same quarter in 2000.
However, the company more than doubled its net loss for the three months ended June 30, to $14.4 million, compared with a $6.3 million loss in the year-ago second quarter.
By the end of the second quarter, Wink reached its 1 millionth cable household and hit the 4 million total household mark for its service availability nationwide — a 13 times increase since the second quarter of last year.
"Wink is on target to reach 6 million homes by year's end, and 10 million to 12 million by the end of 2002," said Maggie Wilderotter, president/CEO. "By that time, more than 10 percent of the nation's TV viewers will have Wink service on their TVs."
Wink, which claims the leading role of mass-market interactive TV solution in North America, says it gives viewers a free and convenient way to interact with programs and ads, while they continue to watch TV. Viewers can access program-related information by clicking on a button on their remote controls during an enhanced program or ad.
"There are 32 networks capable of enhancing shows, program events, advertisements and 24 x 7 programming," said Wilderotter.
"By the end of the second quarter, Wink was enhancing more than 2,000 hours of weekly programming, an increase in hours of more than 10 percent from the first quarter. Wink's ad partners aired more than 3,400 national enhanced ads, a 72 percent increase from the first quarter," she added.
Revenues for the six months jumped 237 percent to $3.9 million, compared with $1.2 million in the same period last year. Net loss more than doubled during the six months, reaching $27.1 million, up from a loss of $11.8 million in the same six months in 2000.
