Contributed by: Editor on Sunday, November 16 2008 @ 01:01 pm
Last modified on
Spark Networks released their 3rd quarter financial results this past week. It wasn't a very good quarter for the company when compared to 2007 Q3 and last quarter.
Revenue for the third quarter of 2008 was $14.0 million, an 11% decrease compared to $15.8 million in the third quarter of 2007, and a 6% decrease compared to $15.0 million in the prior quarter. Revenue for the nine months was $44.1 million, a 10% decrease compared to $49.2 million for the same period last year.
Subscribers are also down.
Average paying subscribers3 in the third quarter of 2008 were 187,682, a 10% decrease compared to 207,508 for the third quarter of 2007, and a 1% decrease compared to 190,455 in the prior quarter. Average paying subscribers for the nine months were 190,263, a 13% decrease compared to 218,279 for the same period last year.
The General Market Networks (AmericanSingles.com, Date.ca and Date.co.uk) continue to decline. They saw a decrease in revenue of 50% to $1.7 million, when compared to last year. This is a 21 percent decrease when compared to quarter 2 this year. The Jewish Networks (JDate) revenue remained about the same when compared to last year and only saw a 2 percent decrease compared to last quarter. The Other Affinity Networks saw a 3 percent increase in revenue when compared to either last quarter or last year.
For the full Q3 release visit Spark Networks News Room[*1] .
Related Story: Spark Networks Second Quarter 2008 Financials