Infomercial giant National Media Corp., Los Angeles, said revenues from its Quantumtv.com Web site increased by more than 600% for the three-month period ended December 31, 1998 and more than 500% for the six-month period ended December 31, 1998.
The Internet revenues for the three months ended December 31, 1998 were $572,698 compared to $81,049 for the three months ended December 31, 1997–an increase of $491,649 or more than 600%.
The Internet revenues for the six months ended December 31, 1998 were $1 million compared to $162,814 for the six months ended December 31, 1997–an increase of $867,310 or more than 500%.
“The dramatic growth in revenues from electronic commerce confirms our strategy of aggressively targeting the Internet,” chairman and CEO Stephen C. Lehman said in a statement.
“Moreover, it validates our business plan of leveraging our $100 million in television advertising, the Internet, and, soon, radio to create a powerful offline and online e-commerce platform.”
National Media is scheduled to report financial results in February 1999 for the three months ending December 31, 1998.
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