Business
Comscore Reports Second Quarter 2020 Results
Local TV and OpenAP Expansion Highlight Long-Term Growth Opportunity Lower Net Loss and Record Adjusted EBITDA RESTON, Va., Aug. 10, 2020 /PRNewswire/ --
About this update from Comscore, Inc.
[{"type":"text","content":"Local TV and OpenAP Expansion Highlight Long-Term Growth Opportunity\n Lower Net Loss and Record Adjusted EBITDA\n\n\nRESTON, Va., Aug. 10, 2020 /PRNewswire/ -- Comscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting, and evaluating media across platforms, today reported financial results for the quarter ended June 30, 2020.\nSecond Quarter 2020 Financial Highlights\nRevenue of $88.6 million compared to $96.9 million in the prior-year quarter, with growth in TV and Addressable year-over-year Movies revenue of $7.9 million compared to $10.7 million in the prior year, primarily due to pandemic-related closure of movie theaters Net loss of $10.4 million, or $(0.15) per share compared to a net loss of $279.5 million, or $(4.61) per share, which included a non-cash impairment charge of $241.6 million, in the prior-year quarter Adjusted EBITDA of $9.2 million compared to a loss of $3.2 million in the prior-year quarterRecent Key Renewals, Partnerships and New Business Developments\nAddressable and Cross-Platform – Renewed and expanded partnership with OpenAP, the advanced advertising marketplace Movies – Eight large customer renewals, including three major studios Validated Campaign Essentials – Integration of Google Ads Data Hub Local TV – Rockfleet Broadcasting and Cox Media Group Syndicated Digital – Bassmaster, Minute Media National Agency – Omnicom Group (digital expansion) OnDemand – Shout! Studios and Cinedigm OTT – Sinclair Compulse360, the leading Local OTT content advertising platform Comscore Consumer Intelligence for local markets – A new Local product merging in-market consumer behavior with Digital and TV usage International – Auditel (Italy), MMS (Sweden) Awarded U.S. patent for protecting consumer privacy during demographics data collection\"During the second quarter, we made strides in many areas of our business, positioning Comscore for success in the second half of 2020 and beyond. While the pandemic impacted our revenue for the quarter, particularly in our Movies and Digital businesses, our TV and Analytics businesses performed well. We effectively managed expenses, which drove adjusted EBITDA to its highest level since 2016,\" said Bill Livek, CEO and Executive Vice Chairman of Comscore. \"This quarter, we also celebrated a milestone 1,000th TV station client, a testament to how our television m...