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Tudou Q2 2011 Net Loss Reaches USD 12 Mln

SEC, 8/08/11

Chinese online video site operator Tudou Holdings Limited has released selected unaudited consolidated statements of operations data for the three months ended June 30, 2011.

Net revenues increased by 94.5% to RMB 116.7 mln (USD 17.8 mln) for the three months ended June 30, 2011 from RMB 60.0 mln for the same period in 2010. The increase was primarily attributable to the increase in net revenues from online advertising services, including an increase of RMB 33.4 mln (USD 5.2 mln) in net revenues from new advertisers and an increase of RMB 11.5 mln (USD 1.8 mln) in net revenues from existing advertisers. The rise in new client ad spending was attributed to greater acceptance of online advertising services and marketing efforts, while the rise in ad spending from existing clients relected an increase in the average spending per advertiser.

The number of advertisers increased from 297 for the three months ended June 30, 2010 to 378 for the same period in 2011.

For the three months ended June 30, 2011, Tudou also generated net revenues of RMB 11.1 mln (USD 1.7 mln) from its mobile video services, representing an increase of 325.0% from RMB 2.6 mln for the same period in 2010.

In addition, Tudou generated net revenues of RMB 3.4 mln (USD 0.5 mln) in the second quarter of 2011 by sub-licensing some of its licensed content that it purchased from third party content vendors, representing approximately 2.9% of net revenues for the period, whereas Tudou did not derive any sub-licensing revenues in the second quarter of 2010.

Net loss increased by 74.5% to RMB 78.9 mln (USD 12.0 mln) for the three months ended June 30, 2011 from a net loss of RMB 45.2 mln during the same period in 2010.

In the six months ended June 30, 2011, Tudou obtained licenses for more than 440 TV drama series, 400 movies and 130 variety shows.

For Tudou's full earnings report, please click here.

Keywords: broadcasting rights video advertising content Internet loss online advertising online video Tudou Q2 2011 profit revenue fiscal report

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