trimming its losses, Viggle, the entertainment rewards company, says it posted a 30% increase in revenue in its fiscal second-quarter financial results.
For its Viggle, Dijit, and Wetbrands
brands, for the period ending Dec. 31, Viggle posted $5 million in revenue overall versus $3.9 million. Viggle also improved on business on a quarter-by-quarter basis -- up from $4.3 million.
For its fiscal 2014, it showed revenue climbing 60% to $9.4 million. Viggle narrowed its negative cash flow versus previous periods. For its fiscal second-quarter 2014, Viggle had a cash flow loss
-- earnings before interest taxes, depreciation and amortization -- of $5.2 million. This compares to a $6.5 million loss in the second quarter of 2013.
Viggle is an entertainment marketing
and promotions app that gives rewards to its members for watching their TV shows and listening to music. Viggle says its registered users have grown 127% to 3.7 million in the fiscal year ending
December 31, 2013.
With regard to its core TV program-related business, Viggle says users checked into a cumulative 355.5 million TV programs for the year. For its new music business, users
checked into 4.2 million songs, with the users’ average time in the app at 64 minutes and 58 seconds per session.