Local Corporation’s Krillion® Platform Powers Shopping Channel for Pittsburgh Post-Gazette
IRVINE, Calif.--(BUSINESS WIRE)-- Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced that it is powering a new local shopping channel for the Pittsburgh Post-Gazette through its online property.
Network revenues ex-TAC were up 17% sequentially, and up nearly 120% from a year ago period. This increase was directly attributable to an increase in a number of sites, from over 1,200 in Q1, to nearly 1,600 in Q2.
First, the Network; we raised $5 million in April to expand our network business, and we believe the investment is paying off. Network revenues ex-TAC were up 17% sequentially, and up nearly 120% from a year ago period. This increase was directly attributable to an increase in a number of sites, from over 1,200 in Q1, to nearly 1,600 in Q2. We spent years developing our network business, and we believe that it's a highly scalable business with unique products and growth prospects, and that it has great operating leverage. We plan to grow our network by adding more sites, and adding more proprietary content into those sites.
Our network generates about 50% gross margin and it’s our most profitable business. So growing network revenues is the core objective this year. We have too many network products the hosted business directory solution and a XML feed product. We achieve growth by adding more partner sites, by growing monetization of those sites and by adding new products to each site. So how is our network doing?
Source: Transcript of last Earning Call on Seeking Alpha