Juno 2014 Annual Report Download - page 52
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Table of Contents
Communications restructuring and other exit costs for the year ended December 31, 2014 consisted primarily of employee termination costs.
Content & Media Segment Results
Content & Media advertising and other revenues decreased primarily due to a decrease in advertising revenues from our loyalty marketing services as a
result of a decline in the number of direct billing partners and advertisers, as well as a decrease in loyalty marketing active accounts. In addition, advertising
and other revenues decreased due to a decrease in revenues from our social networking services, as well as a decrease in gift card revenues. The decrease in
Content & Media services revenues was a result of an 8% decrease in the number of average pay accounts and, to a lesser extent, a 1% decrease in ARPU. The
decrease in Content & Media products revenues was primarily related to the termination, in 2013, of an agreement to sell merchandise.
The decrease in Content & Media cost of revenues was due to a $3.0 million decrease in costs related to the sale of gift cards, a $2.8 million decrease in
cost of points earned by members of our loyalty marketing services as a result of lower revenues, a $0.8 million decrease in hosting and software-related fees,
a $0.8 million decrease in personnel and overhead-related costs, a $0.6 million decrease in costs associated with the termination, in 2013, of an agreement to
sell merchandise, and a $0.2 million decrease in fees associated with processing of customer credit cards and associated bank fees.
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Services $ 75,180 $ 82,591 $ (7,411) (9)%
Products 2,546 3,136 (590) (19)%
Advertising and other 37,144 48,120 (10,976) (23)%
Total Content & Media revenues $ 114,870 $ 133,847 $ (18,977) (14)%
ARPU $ 2.48 $ 2.50 $ (0.02) (1)%
Average pay accounts 2,519 2,748 (229) (8)%
Content & Media cost of revenues $ 23,571 $ 31,769 $ (8,198) (26)%
Content & Media cost of revenues as a percentage of Content & Media revenues 20.5% 23.7%