GoFish Youth Network Reports Quarterly Revenue Up 217%

  • April 11, 2008
GoFish Corp., an online youth entertainment and media network, reported quarterly revenue growth of 217% for the quarter ending Dec. 31.

During the quarter, the company launched its online youth entertainment network and established partnerships with publishers and advertisers.

Net sales increased to $2,081,182 for the year ending Dec. 31, as compared with $25,779 for the previous year. Net sales were $1,539,610 for the quarter as compared to $6,922 for the year-ago same quarter and $485,812 for the quarter ending Sept. 30, an increase of 217% from the third quarter of 2007 to the fourth quarter of 2007.

Revenues from the fourth quarter were derived from advertising sales on publishers that represent about one-third of the audience on the network. The GoFish Network has about 19.4 million unique U.S. users per month and has recently added several publishers.

The company reported an annual loss of $16,377,858 for the year ending Dec. 31, as compared with $5,311,896 for the previous year. This increase is as a result, in part, of an increase in headcount and one-time acquisition costs of $1,270,348.

--Tanya Irwin

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