• by David Goetzl  @dgoetzl, June 8, 2012

Rentrak, which is looking to offer a Nielsen alternative or supplement, says it expects to double sales annually in its TV measurement business over the next four to five years. The bullishness comes after a 59% bump to $9.2 million in the recently completed fiscal year.

TV measurement revenue did grow 90% in the most recent quarter. CEO Bill Livek told investors last week there is “renewed confidence” about the robust projections moving ahead.

The company, which uses set-top-box data as the core of its TV measurement, continues to add local stations as clients and inked a deal with CW, its first national broadcast network.

With local stations, the company has multi-year deals with all but one client. Among local and national networks, Rentrak said price increases on average are 30% a year.

Rentrak’s media measurement business at large accounted for 47% of total company revenue in the 2012 fiscal year, up from 37% a year ago. It seeks to shift the focus away from its home entertainment tracking operations to its Advanced Media and Information (AMI) sector. The AMI business made a profit of $728,000 in the recent fiscal year, down from about $2 million in the year before.

Company-wide, Rentrak experienced a loss of $6.4 million in the fiscal year on revenue of about $91 million.