Blinkx profits post an eightfold jump as video advertising thrives
"Video advertising is the fastest-growing of all the sub-sectors of advertising and we're fortunate to find ourselves right in the cross-hairs," the chief executive of the video search engine Blinkx declared yesterday as he unveiled an eightfold leap in annual profits to $17.7m (£11.5m).
S Brian Mukherjee said revenues were up 73 per cent to $198m, showing that online video was coming of age thanks to broadband and smartphones, nearly a decade after the Blinkx was founded. He also boosted profits by slashing operating costs. Blinkx shares rose 7 per cent to 115p.
Mr Mukherjee said the rise of YouTube "has helped validate this sector". The difference is Blinkx lets brands advertise against only professionally produced video, not user-generated content.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies