Net loss reaches $14.6m for theScore in H1

23 April 2020

Canadian media business theScore has revealed that an increase in spending, mainly related due to its expansion efforts in North America, led to it posting a net loss of $14.6m in the first half of its financial year.

Revenue in the six months to February 29, 2020 amounted to $15.9m, a decline of 2.5% on the corresponding period in the previous year.

Gross gaming revenue for the first half amounted to $685,000 from a handle of $22.6m, but when taking into account all promotional costs and fair value adjustments on unsettled bets, this resulted in negative net gaming revenue of $221,000.

Revenue from media activities totalled $16.1m, down from $16.3m last year, with theScore saying that growth in direct advertising revenue was offset by a decline in programmatic revenue.

Read the full story on iGB North America.