Spark Networks 1Q 2008 Financial Results

Spark Networks 1Q 2008 Financial Results
SPARK NETWORKS REPORTS FIRST QUARTER 2008 FINANCIAL RESULTS So much for Mark Brooks saying niche sites are growing more than mainstream dating sites, Yes I am green with envy of his TechCrunch connection. I have a lot to say about the post, which will have to wait. Onward to Spark, let's dig into the details in […]

SPARK NETWORKS REPORTS FIRST QUARTER 2008 FINANCIAL RESULTS

So much for Mark Brooks saying niche sites are growing more than mainstream dating sites, Yes I am green with envy of his TechCrunch connection. I have a lot to say about the post, which will have to wait.

Onward to Spark, let's dig into the details in the comments, I have to get ready for the radio show.

Spark lost 36,000 customers and these numbers are negative overall. I'm surprised they couldn't do a better job converting the unsubs over to other Spark properties.

Everyone knows that Spark is on the block and a lot of people have seen the dealbook. Spark continues the equivalent of spring training to lose the pounds they gained over the winter. Stock buybacks, cutting costs, moving CPA spend to more profitable marquee properties, etc.

"JDate.com grew for the third straight quarter following last year’s price increase and we continued JDate’s international expansion with the launch of JDate.co.uk for the United Kingdom. In addition, we accelerated our ad sales initiative, increasing advertising revenue 30% over the prior quarter."

Not stellar growth, making up for less members with increased prices, sounds like Match.com. That is not a sustainable model and I am surprised the competition (including lots of ex-JDate employees!) have not been able to siphon off at least 20% of JDate's subscribers.

Spark revenue down 11% to $15 million.

Operating expenses down 27%.

Net income for the first quarter of 2008 was $1.6 million, or $0.06 per share, compared to a net loss of $1.4 million, or $(0.04) per share, for the first quarter of 2007.

Average paying subscribers (3) for the Company, as a whole, in the first quarter of 2008 were 195,325, a decrease of 16% compared to 231,313 for the first quarter of 2007, and a decrease of 3% compared to 200,850 for the fourth quarter of 2007.

I bet this maps out to less marketing spend on American Singles.

Average paying subscribers for Jewish Networks were 93,411 during the first quarter of 2008, a decrease of 4% compared to 97,124 for the first quarter of 2007, and a decrease of 1% compared to 94,595 in the prior quarter.

Average paying subscribers for General Market Networks were 37,740 during the first quarter of 2008, a decrease of 49% compared to 73,485 for the first quarter of 2007, and a decrease of 10% compared to 41,763 in the prior quarter.

More to come after we all have some time to digest the data.

Source: feeds.feedburner.com

Spark Network 1Q 2008 Earnings Call
Spark Networks earnings call is scheduled for 1:30PM PST today. Call Title: Spark Networks Q1 '08 Financial Results Toll-Free (United States): +1 800-355-4959 International: +1 416-695-9719 In addition, the Company will host a webcast of the call which will be accessible in the Investor Relations section of the Company's website at: http://www.spark.net/investor.htm. A replay will begin approximately […]

Spark Networks earnings call is scheduled for 1:30PM PST today.

Call Title: Spark Networks Q1 '08 Financial Results Toll-Free (United States): +1 800-355-4959 International: +1 416-695-9719 In addition, the Company will host a webcast of the call which will be accessible in the Investor Relations section of the Company's website at: http://www.spark.net/investor.htm.
A replay will begin approximately three hours after completion of the call and run until May 15, 2008. Replay Toll-Free (United States): +1-800-408-3053 International: +1-416-695-5800 PIN Number: 3259888
About Spark Networks, Inc.: The Spark Networks portfolio of online personals communities includes, among others, JDate®.com (www.jdate.com), AmericanSingles®.com (www.americansingles.com), BlackSingles.com® (www.blacksingles.com), and ChristianMingle®.com (www.christianmingle.com). More information can be found on the Company's website at: www.spark.net.

Source: feeds.feedburner.com

5-1-08 Links
A warm welcome to our new sponsor, Dating Ad Network. Match closed down their "match studios" service and re-opened it under the name of Match Profile Pro. You can see the ad unit if you go to "edit profile" it's on the far left hand side of the page. It offers the same things as match […]

A warm welcome to our new sponsor, Dating Ad Network.
Match closed down their "match studios" service and re-opened it under the name of Match Profile Pro. You can see the ad unit if you go to "edit profile" it's on the far left hand side of the page. It offers the same things as match studios. Match studios used to cost $40… Match Profile Pro costs $39.99.
Big shout out to Adriana at Lavalife.

I was quoted in the Houston Chronicle talking about Facebook dating applications.

People are tired of shelling out even $10 to $60 per month when they can find dates for free on social networks such as Facebook, according to Dave Evans, a Boston-based social media consultant who writes the blog onlinedatingpost.com. Indeed, Match.com, Yahoo! Personals, True.com and eHarmony have, on average, shed 50 percent of their market share as love seekers have ventured elsewhere, based on figures from Hitwise, a New York City-based Web consulting firm.

Talked to Kelly Brough, CEO of Allegran. Great to learn more about what's happening with LoopyLove and the UK dating market.
Social dating continues to attract attention. With Sparkbliss, members create and mobilize their private social network for romantic introductions. Each social network consists of trusted friends and family. Profiles and photos are confidential within each social network, as well as identities of persons who receive introductions. Matchmakers are an integral part of Sparkbliss which helps trustworthy people meet trustworthy people.

Look what I found on Facebook. A comparison between myself and Markus Megabucks of PlentyOfFish. No fair, he is in bed with several hotties and I'm goofing around on the beach.
Plentyoffish: Google CTR Down 60%.

Mark Brooks has an article on TechCrunch, Niche Dating Sites Grow Steadily As Mainstream Ones Flail. Misleading sensational headline, typical attention-grabber. Where's the analysis, all I see is Hitwise stats. Match revenue is up 10% over last year. Not exactly flailing. Casual dating is different from adult dating, I wish people would get this right.
Mark says:

In theory, the perfect dating site would be a single dating site with all the singles on the planet on it…and really, really good search functionality. In reality, it appears that the market is moving in the opposite direction to this perfect model.

People are poking around the edges of the answer, it's not monolithic and it's not niche, it's something else that I can't talk about, yet.

Like bad boys? Meet an Inmate.

NY times on niche sites, Let's Say You Want to Date a Hog Farmer.

SpeedDate.com - 26-year-old girl wants to date 300 guys.
Newsweek on eHarmony, An Algorithm for Mr. Right. This article was news three years ago, execept for the legal matters with Chemistry.com. I don't think Chemistry should be gunning for eHarmony like this.
So what if eHarmony discriminates as long as they are up front about it? Problem is, they haven't been. Why would gays want to be on eHarmony anyway when there is so much hype about the growth of the gay dating market, and sites like MyPartner (past client.)

Date a Golfer redesigned their site.

My German dating guru told me that last week the first german online speed date website, OWONDA, launched (www.owonda.de). However it's rather an online dating website with a speed date module and other cool gadgets then a WooMee or Speeddate, which to me makes it special and worth noting.

Current TV segment on dating tips from Cablight.com.

Source: feeds.feedburner.com

Engage.com on CupidCast Radio
It's Thursday, which means we're taping another episode of Cupidcast. Tonight the CEO Series continues with Suneet Wadhwa, founder and CEO of Engage. Darwin and I sit down with Suneet to talk about online dating, Engage's approach and what advantages daters have mixing it up on Engage. I'm excited to announce that Trish McDermott, VP of Love, […]

It's Thursday, which means we're taping another episode of Cupidcast.

Tonight the CEO Series continues with Suneet Wadhwa, founder and CEO of Engage. Darwin and I sit down with Suneet to talk about online dating, Engage's approach and what advantages daters have mixing it up on Engage.

I'm excited to announce that Trish McDermott, VP of Love, Engage.com, is going to join the conversation. Trish started working for Match.com in 1994, where she was the VP of Romance at Match for a decade.

You can learn more about the show by reading the Cupidcast.tv launch announcement.

Show starts at 7pm EST, details about listening in and how to participate at CupidCast.tv.

Maybe I'll turn on my webcam tonight and give people a glimpse at Online Dating Post World Headquarters.

Source: feeds.feedburner.com

Spark Networks 1Q 2008 Financial Results
SPARK NETWORKS REPORTS FIRST QUARTER 2008 FINANCIAL RESULTS So much for Mark Brooks saying niche sites are growing more than mainstream dating sites, Yes I am green with envy of his TechCrunch connection. I have a lot to say about the post, which will have to wait. Onward to Spark, let's dig into the details in […]

SPARK NETWORKS REPORTS FIRST QUARTER 2008 FINANCIAL RESULTS

So much for Mark Brooks saying niche sites are growing more than mainstream dating sites, Yes I am green with envy of his TechCrunch connection. I have a lot to say about the post, which will have to wait.

Onward to Spark, let's dig into the details in the comments, I have to get ready for the radio show.

Spark lost 36,000 customers and these numbers are negative overall. I'm surprised they couldn't do a better job converting the unsubs over to other Spark properties.

Everyone knows that Spark is on the block and a lot of people have seen the dealbook. Spark continues the equivalent of spring training to lose the pounds they gained over the winter. Stock buybacks, cutting costs, moving CPA spend to more profitable marquee properties, etc.

"JDate.com grew for the third straight quarter following last year’s price increase and we continued JDate’s international expansion with the launch of JDate.co.uk for the United Kingdom. In addition, we accelerated our ad sales initiative, increasing advertising revenue 30% over the prior quarter."

Not stellar growth, making up for less members with increased prices, sounds like Match.com. That is not a sustainable model and I am surprised the competition (including lots of ex-JDate employees!) have not been able to siphon off at least 20% of JDate's subscribers.

Spark revenue down 11% to $15 million.

Operating expenses down 27%.

Net income for the first quarter of 2008 was $1.6 million, or $0.06 per share, compared to a net loss of $1.4 million, or $(0.04) per share, for the first quarter of 2007.

Average paying subscribers (3) for the Company, as a whole, in the first quarter of 2008 were 195,325, a decrease of 16% compared to 231,313 for the first quarter of 2007, and a decrease of 3% compared to 200,850 for the fourth quarter of 2007.

I bet this maps out to less marketing spend on American Singles.

Average paying subscribers for Jewish Networks were 93,411 during the first quarter of 2008, a decrease of 4% compared to 97,124 for the first quarter of 2007, and a decrease of 1% compared to 94,595 in the prior quarter.

Average paying subscribers for General Market Networks were 37,740 during the first quarter of 2008, a decrease of 49% compared to 73,485 for the first quarter of 2007, and a decrease of 10% compared to 41,763 in the prior quarter.

More to come after we all have some time to digest the data.

Source: feeds.feedburner.com

Spark Network 1Q 2008 Earnings Call
Spark Networks earnings call is scheduled for 1:30PM PST today. Call Title: Spark Networks Q1 '08 Financial Results Toll-Free (United States): +1 800-355-4959 International: +1 416-695-9719 In addition, the Company will host a webcast of the call which will be accessible in the Investor Relations section of the Company's website at: http://www.spark.net/investor.htm. A replay will begin approximately […]

Spark Networks earnings call is scheduled for 1:30PM PST today.

Call Title: Spark Networks Q1 '08 Financial Results Toll-Free (United States): +1 800-355-4959 International: +1 416-695-9719 In addition, the Company will host a webcast of the call which will be accessible in the Investor Relations section of the Company's website at: http://www.spark.net/investor.htm.
A replay will begin approximately three hours after completion of the call and run until May 15, 2008. Replay Toll-Free (United States): +1-800-408-3053 International: +1-416-695-5800 PIN Number: 3259888
About Spark Networks, Inc.: The Spark Networks portfolio of online personals communities includes, among others, JDate®.com (www.jdate.com), AmericanSingles®.com (www.americansingles.com), BlackSingles.com® (www.blacksingles.com), and ChristianMingle®.com (www.christianmingle.com). More information can be found on the Company's website at: www.spark.net.

Source: feeds.feedburner.com

5-1-08 Links
A warm welcome to our new sponsor, Dating Ad Network. Match closed down their "match studios" service and re-opened it under the name of Match Profile Pro. You can see the ad unit if you go to "edit profile" it's on the far left hand side of the page. It offers the same things as match […]

A warm welcome to our new sponsor, Dating Ad Network.
Match closed down their "match studios" service and re-opened it under the name of Match Profile Pro. You can see the ad unit if you go to "edit profile" it's on the far left hand side of the page. It offers the same things as match studios. Match studios used to cost $40… Match Profile Pro costs $39.99.
Big shout out to Adriana at Lavalife.

I was quoted in the Houston Chronicle talking about Facebook dating applications.

People are tired of shelling out even $10 to $60 per month when they can find dates for free on social networks such as Facebook, according to Dave Evans, a Boston-based social media consultant who writes the blog onlinedatingpost.com. Indeed, Match.com, Yahoo! Personals, True.com and eHarmony have, on average, shed 50 percent of their market share as love seekers have ventured elsewhere, based on figures from Hitwise, a New York City-based Web consulting firm.

Talked to Kelly Brough, CEO of Allegran. Great to learn more about what's happening with LoopyLove and the UK dating market.
Social dating continues to attract attention. With Sparkbliss, members create and mobilize their private social network for romantic introductions. Each social network consists of trusted friends and family. Profiles and photos are confidential within each social network, as well as identities of persons who receive introductions. Matchmakers are an integral part of Sparkbliss which helps trustworthy people meet trustworthy people.

Look what I found on Facebook. A comparison between myself and Markus Megabucks of PlentyOfFish. No fair, he is in bed with several hotties and I'm goofing around on the beach.
Plentyoffish: Google CTR Down 60%.

Mark Brooks has an article on TechCrunch, Niche Dating Sites Grow Steadily As Mainstream Ones Flail. Misleading sensational headline, typical attention-grabber. Where's the analysis, all I see is Hitwise stats. Match revenue is up 10% over last year. Not exactly flailing. Casual dating is different from adult dating, I wish people would get this right.
Mark says:

In theory, the perfect dating site would be a single dating site with all the singles on the planet on it…and really, really good search functionality. In reality, it appears that the market is moving in the opposite direction to this perfect model.

People are poking around the edges of the answer, it's not monolithic and it's not niche, it's something else that I can't talk about, yet.

Like bad boys? Meet an Inmate.

NY times on niche sites, Let's Say You Want to Date a Hog Farmer.

SpeedDate.com - 26-year-old girl wants to date 300 guys.
Newsweek on eHarmony, An Algorithm for Mr. Right. This article was news three years ago, execept for the legal matters with Chemistry.com. I don't think Chemistry should be gunning for eHarmony like this.
So what if eHarmony discriminates as long as they are up front about it? Problem is, they haven't been. Why would gays want to be on eHarmony anyway when there is so much hype about the growth of the gay dating market, and sites like MyPartner (past client.)

Date a Golfer redesigned their site.

My German dating guru told me that last week the first german online speed date website, OWONDA, launched (www.owonda.de). However it's rather an online dating website with a speed date module and other cool gadgets then a WooMee or Speeddate, which to me makes it special and worth noting.

Current TV segment on dating tips from Cablight.com.

Source: feeds.feedburner.com

Engage.com on CupidCast Radio
It's Thursday, which means we're taping another episode of Cupidcast. Tonight the CEO Series continues with Suneet Wadhwa, founder and CEO of Engage. Darwin and I sit down with Suneet to talk about online dating, Engage's approach and what advantages daters have mixing it up on Engage. I'm excited to announce that Trish McDermott, VP of Love, […]

It's Thursday, which means we're taping another episode of Cupidcast.

Tonight the CEO Series continues with Suneet Wadhwa, founder and CEO of Engage. Darwin and I sit down with Suneet to talk about online dating, Engage's approach and what advantages daters have mixing it up on Engage.

I'm excited to announce that Trish McDermott, VP of Love, Engage.com, is going to join the conversation. Trish started working for Match.com in 1994, where she was the VP of Romance at Match for a decade.

You can learn more about the show by reading the Cupidcast.tv launch announcement.

Show starts at 7pm EST, details about listening in and how to participate at CupidCast.tv.

Maybe I'll turn on my webcam tonight and give people a glimpse at Online Dating Post World Headquarters.

Source: feeds.feedburner.com