Juno 2014 Annual Report Download - page 62
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Table of Contents
The decrease in Content & Media sales and marketing expenses was primarily due to a $4.7 million decrease in online marketing costs to acquire new
social networking members primarily due to our cost-cutting efforts and a $3.7 million decrease in personnel and overhead-related costs due to our
restructuring initiatives.
The decrease in Content & Media technology and development expenses was due to $0.5 million decrease in personnel and overhead-related costs.
The decrease in Content & Media general and administrative expenses was due to a $2.8 million insurance reimbursement received in the year ended
December 31, 2013 related to a legal settlement, a $1.0 million decrease in personnel and overhead-related costs, and a $1.0 million decrease in professional
services and consulting fees. In addition, the decrease was due to $0.5 million of transaction-related costs related to the schoolFeed acquisition recorded in
the year ended December 31, 2012. These decreases were partially offset by a $2.2 million increase in reserves for legal settlements and a $0.4 million
increase in bad debt expense.
61
Content & Media sales and marketing $ 41,242 $ 49,839 $ (8,597) (17)%
Content & Media sales and marketing expenses as a percentage of Content &
Media revenues 30.8% 32.5%
Content & Media technology and development $ 19,058 $ 19,552 $ (494) (3)%
Content & Media technology and development expenses as a percentage of
Content & Media revenues 14.2% 12.7%
Content & Media general and administrative $ 18,326 $ 21,128 $ (2,802) (13)%
Content & Media general and administrative expenses as a percentage of
Content & Media revenues 13.7% 13.8%
Content & Media contingent consideration—fair value adjustment $ (5,124) $ (836) $ (4,288) *
*Not meaningful