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As the online video opportunity booms, video index and advertising firm Blinkx is growing fast – but not quite as fast as had been expected.
The San Francisco and London firm says it will post 12-month revenue of $114 million. That is a hefty 72 percent up from a year ago – but behind analysts’ expectations of $121.5 million.
CEO Suranga Chandratillake (via release): “Whilst it is disappointing to deliver revenues a little below expectations it is worth noting that in a challenging economic climate, blinkx outperformed the aggressive growth of the online video advertising industry by over 80 percent.”
Indeed – as online video begins to benefit from professional content and moves from desktop to living room, Blinkx still looks well placed.
Blinkx lists over 35 million hours of searchable video, carried from over 720 media partners, and passed 100 million monthly uniques this January.
It expects to post operating profit slightly ahead of analyst estimates of $10.3 million, but a $1.3 million actual profit.
U.S. online video advertising sales will grow more than twice as fast as the online market overall through 2012, according to eMarketer, reaching $3.12 billion in 2012 and $9.3 billion by 2016.