AOL Loses 1/3 of Its Subscribers in One Year
Time Warner released its Q3 earnings report today, and boy does it look sad for AOL. In terms of subcribers, numbers dropped 5.1 million to 10.1 million, over a 33% drop in one year's time.
Revenue-wise, there was a decline of 38% or $745 million from $1.96 billion to $1.22 billion last year with subscription revenues declining 56% or $820 million during this time. There was a 13% increase ($61 million) in advertising revenue, however.
Overall for Time Warner, net income fell to $1.1 billion, or 29¢ a share, from $2.3 billion, or 57¢ a share, in the year-earlier third quarter.
Before the merger in 2001, AOL was a high-flyer, but it make several misjudgments as broadband became prevalent and the evidence of those errors can be seen just from the dropping of AOL from the corporate name.
The full earnings report in PDF form is available here.
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3 comments:
I'm thrilled that AOL is losing subscribers and revenue. They have the worst customer service in the world. In fact it's so bad, their telephone number is UNLISTED. Years ago when I finally managed to find a customer service representative, she hung up on me because she didn't like my question. Well I'll be among those leaving, to be reported in their next earnings report.
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