IO World Media, the parent company of Radioio, has announced second quarter results that reflect revenue gains over a year ago. The company reports revenue of $473,321 in the second quarter of 2011 as compared to $191,544 for the same period in 2010, and a net loss of $197,774 as compared to $274,323 for the same period in 2010.
The company press release notes that the revenue growth is attributable to the very successful launch of RadioioLive and the Early Enlistment Program for the Bubba Army. This revenue will be recognized pro rata over the thirty-six month life of those subscriptions.
Early this year Bubba The Love Sponge joined Radioio after leaving Sirius XM last year. During an early campaign on his new station, many loyal listeners signed up for long term subscriptions, giving them access to both live and archived content as well as Radioio’s music channels.
The company’s stock, trading as IWDM, has ranged from $.05 to $.68 in the last 52 weeks and is currently at $.11.