11.08.2010 02:00 PM
Rentrak Doubles TV Station Count in Four Months
The number of TV stations using set-top data from Rentrak more than doubled in
just four months. Rentrak contracts with cable and satellite TV providers to
mine information from 17 million set-top boxes. The company today announced a
multi-year agreement for three New Vision Television stations--CBS affiliate
WIAT-TV in Birmingham, Ala.; CBS affil KOIN-TV in Portland; and NBC affiliate
KSNW-TV in Wichita, Kan., where Rentrak has seven other subscribers.
“New Vision chose to work with Rentrak in order to have access to more stable
data to significantly reduce money spent on make-goods and capitalize on
direct-marketing dollars by proving audiences are staying tuned through
commercials,” said Steven Walsh, senior vice president of Local Television
Sales for Rentrak.
Dish Network provides access to around 14 million set-top boxes. AT&T’s
U-verse contributes around 2.7 million; Midcontinent Communications, around 250,000;
and Charter, an unpublished number. Broadcasters that subscribe to Rentrak
StationView Essentials include Barrington, Nexstar, Fisher stations, Raycom and
Meredith, among others.
Rentrak reported fiscal second quarter net income of $408,000 or 4 cents a
share, on revenues of around $25 million. Net income fell from $676,000 or 6
cents a share a year ago; revenues were up 13 percent. The decline in net income was
attributed to an employee stock payout. Cash and equivalents for the quarter
totaled $2.53 million. No long-term debt was reported. Shares of the company
(NASDAQ: RENT) were trading at $27.23 mid-day, up 54 percent year-to-date.
-- Deborah D. McAdams