Summary:

TheStreet.com Losing Annual Subscribers Due to Technical Glitch: In the latest 10-Q Filing, TheStreet.com reveals that its backend subscript…

TheStreet.com Losing Annual Subscribers Due to Technical Glitch: In the latest 10-Q Filing, TheStreet.com reveals that its backend subscription system, which has been giving it trouble for more than two quarters now, is still causing it to lose annual subscribers. “For the three months ended September 30, 2002, approximately 57 percent of the Company’s net subscription revenue was derived from annual subscriptions, as compared to approximately 71 percent for the three months ended September 30, 2001. This decrease in the percent of annual subscriptions is partially due to the Company’s need to outsource fulfillment of new email subscription products initially to a third party and that third party’s technological inability to provide annual subscriptions. The Company now has internally developed the requisite technological infrastructure for its new market for subscription products fulfilled via email. The Company migrated these monthly subscribers to its own commerce system in March 2002, and has successfully converted many of these monthly subscribers into annual subscribers.”

The company’s subscriber base also decreased to 66,000, compared to 76,000 in the year-ago quarter. “This decrease is primarily the result of the discontinuance of some old contracts for discounted bulk sales of RealMoney.com, the elimination of two products that were better suited for previous market conditions, and a decrease in RealMoney.com retail subscribers, partially offset by the launch of several new subscription-based products.”

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By Rafat Ali

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