Frndly TV, the low-cost streaming TV provider for the whole family, said it had a crackerjack first quarter, with viewership and ad revenue showing big increases.
Frndly TV chalked up a 63% year-over-year increase in the total time subscribers spent on the service in the first quarter. Since starting in October 2019, Frndly TV has recorded an increase in viewing in every quarter.
On a per-subscriber basis, hours spent on the platform were up 15%.
The increase was driven by new channels being added to the lineup. It added 17 channels in 2021 and six more so far this year, including MeTV and H&I.
“We achieved profitability in 2021 by focusing on growing our subscriber base and diligent management of our cost structure across the business,” said co-founder Andy Karofsky. “Now, we’re increasing our focus on building our second revenue stream of ad sales to add to our profitability. Between our rising subscriber base, our offering of add-ons, and now our growing advertising business, we have three solid streams of revenue to continue driving Frndly TV’s profitability.”
Advertising impressions grew 395% in the quarter and continue to rise. In April, impressions grew 632%.
“We couldn't be more pleased with our year-over-year growth in viewership, ad impressions and ad revenue,” said Steve Sklar, Frndly TV head of advertising sales. “This is a reflection of the quality of Frndly TV's premium CTV product, which is extremely brand safe, and our highly engaged audience. Our growing programmatic advertising business has also benefited from an expanded base of demand partners and advertisers who appreciate Frndly TV’s feel-good content.” ■
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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