Contributed by: Editor on Sunday, May 29 2011 @ 01:39 pm
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For the first quarter ending March 31, 2011 Spark Networks reported revenue of $11 million. This is an 8 percent increase in revenue over last quarter (the largest growth between quarters in the last 5 years) and a 4 percent increase when compared to the same quarter in 2010. Spark Networks reported a net loss of $0.2 million in the first quarter due to $1.8 million being spent on direct advertising. In the same quarter last year a net income of $0.9 million was recorded.
Revenue for JDate this quarter was $6.9 million which was the same last quarter. JDate did have a 2 percent increase in subscribers at 91,545.
Revenue for the Other Affinity networks (ChristianMingle, BlackSingles, etc.) was $3.8 million. This is a 35 percent increase over the last quarter. Average paying subscribers was at 81,889 which is a 26 percent increase when compared to Q4, 2010.
Revenue for General Market Networks was down 20 percent to $190,000 when compared to the last quarter. Subscribers also fell similarly (19 percent) to 4,207.
For the full 2011 Q1 release visit Spark Networks News Room.
Related Story: Spark Networks Fourth Quarter 2010 Financials