Juno 2012 Annual Report Download - page 77
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Table of Contents
Excluding the unfavorable impact of foreign currency exchange rates of $2.9 million due to a weaker Euro versus the U.S. Dollar, Content &
Media revenues decreased by $29.0 million, or 16%. The decrease in Content & Media services revenues was the result of a 20% decrease in our
average number of pay accounts. Excluding the unfavorable impact of foreign currency exchange rates, ARPU decreased by 1%. In addition, Content &
Media advertising and other revenues decreased due to a decrease in revenues from our online loyalty marketing service as a result of a number of
factors, including the loss of a major customer during the second half of 2011, as well as a decrease in revenues from our online nostalgia services
business due to a decrease in active accounts for the international business, partially offset by an increase in revenues generated from the sale of gift
cards. These decreases were partially offset by a $2.5 million increase in Content & Media products revenues primarily related to the sale of yearbook
reprints. We anticipate that Content & Media pay accounts and revenues will continue to decline year over year, at least in the near term.
The increase in Content & Media cost of revenues was due to a $5.3 million increase in costs associated with the sale of gift cards and third-party
merchandise, as well as a $0.9 million increase in costs associated with the sale of yearbook reprints. These increases were partially offset by a
$2.2 million decrease in costs associated with points earned by members of our online loyalty marketing service, a $1.4 million decrease in credit card-
related fees due to a decrease in pay accounts and a $0.6 million decrease in personnel- and overhead-related costs.
The decrease in Content & Media sales and marketing expenses was due to $5.5 million in marketing costs related to television advertising
supporting the launch of the Memory Lane website in the year ended December 31, 2011, a $4.3 million decrease in personnel- and overhead-related
costs and a $0.4 million decrease in costs to acquire new online loyalty marketing members. These decreases were partially offset by a $1.0 million
increase in costs to acquire new online nostalgia members.
73
Content & Media cost of revenues $ 35,830 $ 33,796 $ 2,034 6%
Content & Media cost of revenues as a percentage of Content & Media
revenues 23.3% 18.2%
Content & Media sales and marketing $ 49,839 $ 59,063 $ (9,224) (16)%
Content & Media sales and marketing expenses as a percentage of
Content & Media revenues 32.5% 31.8%