Saturday, April 04, 2015

SEEC Media records loss in 2014

News this week: Last week, Hong Kong-listed SEEC Media reported its financial results for the year ended 31st December 2014. Revenues for the year were US$57 million, down 10% year-on-year. The company recorded a loss of US$16 million, compared with a profit of US$2.2 million in 2013.

More than 70% of SEEC’s revenues were generated through advertising income, which amounted to US$42 million. That figure represents a 15% year-on-year decrease. The remaining revenues were generated through income from conferences & events (US$11 million) and sales of books & magazines (US$4.4 million). Income from conferences & events increased 22% year-on-year, however sales of books & magazines dropped 14%.

SEEC attributed the decrease in revenue to the slowdown of economic growth in China and competition from Internet media in China. SEEC’s flagship magazine, Caijing Magazine, posted a 10% decrease in revenue. To reduce the impact of the continuing drop in advertising revenues, the company plans to diversify its sources of revenue.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

No comments: