Business
Salon Media Group Reports First Quarter Fiscal 2016 Results 36% Increase in Revenues and 30% Increase in Traffic Reported
Salon Media Group Reports First Quarter Fiscal 2016 Results 36% Increase in Revenues and 30% Increase in Traffic Reported.
About this update from Salon Media Group Inc
[{"type":"text","content":"\nNEW YORK, Aug. 14, 2015 (GLOBE NEWSWIRE) -- Salon Media Group, Inc. (OTCQB:SLNM) today announced its results for the three months ended June 30, 2015.\n\n\tHighlights:\n\n\t\n\t\tNet revenue was $1.7 million, a 36% increase from the same period last year\n\t\n\t\tUnique visitors grew 30% compared to the same period last year\n\t\n\t\tSalon.com reached an all-time-high traffic of 19.6 million users in June 2015\n\t\n\t\tLaunched original editorial video program\n\n\n\tFirst quarter net revenue was $1.7 million, up 36% from the $1.2 million reported for the three months ended June 30, 2014.\n\n\tOperating expenses for the first quarter rose 9% to $2.3 million compared to $2.1 million for the same period last year. The increase resulted primarily from higher stock-based compensation, increased rent in our New York office, and an increase in professional fees. The Company's loss from operations for the first quarter fiscal year 2016 was $0.6 million, compared to a loss of $0.9 million for the same period last year. \n\n\tUnique visitors to Salon.com are an important driver for the Company's business as achieving scale helps increase the Website's attractiveness to advertisers. Unique visitors to the Salon.com website during the first quarter fiscal year 2016 increased 30% compared to the same period last year, and increased 5% compared to the prior quarter ended March 31, 2015, according to data compiled by Google Analytics. According to comScore MediaMetrix (U.S. only, includes mobile), unique visitors increased 8% compared to the previous quarter ended March 31, 2015, and 45% compared to the same period last year.  Salon.com reached a new traffic milestone and an all-time high when it recorded monthly users of 19.6 million users for the month of June 2015, as measured by Google Analytics, and 13.8 million users as measured by comScore MediaMetrix.\n\n\tSocial media continues to be a major source of referral traffic and a significant focus across the Company.  Salon continues to make regular updates to the website to optimize content to be shared on social media with a special focus on its mobile platforms. Mobile browser users accounted for an average 58% of all users in the June 2015 quarter, which is an increase from the 51% average in the June 2014 quarter. The company is focused on our users' mobile needs, esp...