Monday, May 9, 2016
Demand Media Content Revenues Continue To Plunge
Santa Monica-based Demand Media reported its quarterly earnings Monday afternoon, revealing a precipitous decline in the company's content revenues. Demand Media said that its Content and Media revenues dropped 40%, from $22.5M in the first three months of 2015 to just $13.5M in the first three months of 2016. The company fared far better in its new, marketplace business, where revenues rose from $10.7M in Q1 of 2015 to $13.5M in Q1 of 2016. Demand Media and CEO Sean Moriarty have been looking to reshape the company in the face of strong headwinds for the company's traditional content generation business. The firm most recently sold online humor site Cracked in April as part of that shift.