FriendFinder Networks Reports $49.4M Loss for 2012
SUNNYVALE, Calif. — FriendFinder Networks on Monday reported a net loss of $49.4 million after the company said it saw less revenue for four quarters ending Dec. 31.
FriendFinder has seen shrinking revenue figures as well as affiliate-based traffic since August after it eliminated about 5,000 co-branded white label sites. At the time, FriendFinder said it would be turning its attention back to its core business.
The company said it is seeing the rosiest numbers with its live cam unit, which now accounts for about one-third of all revenue — $314.4 million in 2012 — after catapulting up 25 percent from last year's figures.
FriendFinder CEO Anthony Previte, in a statement after filing the 2012 annual report, said the live cam segment extended its streak of consecutive quarters of year-over-year revenue growth to 12 in the fourth quarter.
FriendFinder also is banking on mobile devices to help drive in more revenue, Previte said, because more consumers are transacting on them.
Previte noted that more than 30 percent of FriendFinder Networks adult dating members and 20 percent of its live interactive members registered through mobile devices.
"As mobile increasingly represents a larger component of casual dating, we expect to continue to gain traction in this segment," Previte said.
FriendFinder Networks Inc. operates AdultFriendFinder.com, Amigos.com, AsiaFriendFinder.com, Cams.com, FriendFinder. com, BigChurch.com and SeniorFriendFinder.com. FriendFinder Networks Inc. also owns Penthouse magazine and its video production line. It also engages in brand licensing.