Harvest Media Group Announces Strong Financial Results; Growth in Both US and UKBy Harvest Media Group, PRNE
Sunday, March 20, 2011
Net Profits of GBP1.5m and Further Strong Growth Predicted for 2011
LONDON, March 21, 2011 - Interactive television and mobile technology pioneer Harvest Media Group
today announced strong financial results for 2010, with further growth
forecast for this year. Over the past two years, net profits have more than
doubled to over GBP1.5m. Further strong growth is predicted for 2011.
The group has operations in both the UK and US where it operates a wholly
owned subsidiary, Telescope Inc. - which launched American Idol voting in
2002. Harvest Media Group is backed by FF&P Private Equity, a leading UK
growth capital fund.
Harvest has achieved significant growth, due in part to an increased
focus on product development and investment in technology in areas including
social media and mobile marketing, the latter of which is showing strong
demand in the US as brands increasingly adopt mobile as a central plank in
In the UK, Harvest has been successful in securing and implementing a
number of vote management contracts including 'The X Factor' and 'Strictly
Come Dancing' for various broadcasters and production companies. Against this
backdrop, leading trade association AIME has recently reported that UK
premium rate revenues also showed growth in quarter 3 of 2010 with revenues
almost 5% ahead of the same quarter in 2009.
Further strong growth is projected for 2011, with a targeted increase in
revenues of over 50%. The company has also stated its intention to increase
investment in technology development, upping its 2011 budget to over
GBP750,000, all generated out of strong cash flow.
To support its aggressive expansion plans, Harvest has recruited a senior
sales person in the US and also created a new position of Chief Operating
Officer with an internal promotion. Jason George continues to run Telescope
Harvest also recently announced the launch of its new self-service mobile
marketing platform in the US. Called 'SMS Connect' The platform offers
clients increased reporting and analytics capabilities, supported by its
Insight product and a new capacity management tool to further enable its high
throughput interactive events. In the UK, Harvest also integrates with a
number of technical platforms including BT RIDE and also Mobile Interactive
Edward Boddington, Chief Executive Officer of the group commented: "We
are very pleased with the progress we have made and the fantastic financial
results for 2010.We have a great client base and are looking forward to a
major ramp-up in 2011. We have built market leading positions on both sides
of the Atlantic and are well positioned for future growth especially as the
digital world continues to converge."
About Harvest Media Group.
The group is the number one provider of participation media
services for media companies. These include participation TV and mobile
marketing solutions for clients including media and production companies,
network broadcasters, brands, marketing agencies, retailers, Internet portals
and network operators.
Harvest Media Group. Media Contact Edward Boddington +44(0)7711-684408 email@example.com www.hmg.tv
Harvest Media Group. Media Contact: Edward Boddington, +44(0)7711-684408, bod at hmg.tv
Tags: Harvest Media Group, London, March 21, United Kingdom