For New Frontier Media, fiscal 2004 was a “watershed year,” the adult entertainment distributor saying that growth in Video-on-Demand and “the growing recognition of the profit opportunity in adult content” equaled revenue and cash flow growth for the fiscal year.
“As we begin fiscal 2005, we look forward to increasing our pay-per-view and VoD distribution through recently completed affiliate agreements,” said chief executive Michael Weiner in a statement. “Also this year, we will look for new ways to leverage our broadcast and Internet assets while remaining a leader in the distribution of adult content to current and emerging platforms.”
New Frontier’s net income for the final quarter of fiscal 2004 was $3.3 million, compared to $0.7 million in the same quarter for fiscal 2003, the company said, with net revenue for the quarter at $11.1 million compared to $9.3 million a year earlier, a 19 percent increase.
New Frontier’s VoD service, TEN*On Demand, is sent now to 10.5 million VoD-enabled cable households and 900,000 hotel rooms in the United States, the company continued.
The company’s Internet Group saw a small drop in net revenue for the final quarter of fiscal 2004: $0.7 million compared to $1.3 million after the quarter ending in March 2003.
