24/7 Media, Inc., New York, had second-quarter revenue of $17.2 million, up from revenue of just under $4 million in second-quarter 1998. The net loss for the second quarter was $7.2 million, an improvement over the company’s loss of just under $10 million a year earlier. For the first half of 1999, 24/7 had revenue of $28.6 million, a 453% increase over revenues of $5.2 million for first-half 1998. The net loss was $14.4 million, compared to a net loss of $12.6 million.
The quarter and the half ended June 30.
Revenue gains were fueled by continued growth in the number of ad impressions; contributions from recent alliances and acquisitions; the effectiveness of the 24/7 Media sales force; increased brand awareness in the marketplace; and continued global expansion of The 24/7 Network, the company said in a statement.
Through its global online advertising and direct marketing networks, 24/7 Media provides online media sales services to advertisers and Web publishers. Through its flagship networks, 24/7 Media represents more than 2.5 billion ad impressions per month on more than 300 sites. 24/7 Media also owns and operates 24/7 Profilz, an online co-op database of Web user profiles used to deliver targeted online banner and email campaigns.
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