While Internet companies grew in 1999, they fought increasing losses, according to the annual "Communications Industry Report," released on Nov. 13 from researcher Veronis, Suhler & Associates. In tracking 52 publicly traded Internet content providers, Veronis found they had a 128.1% increase in combined revenue, from $479.6 million in 1998 to $1.1 billion in 1999. Losses, however, tripled for the companies, rising from $529.5 million in 1998 to $1.6 billion last year. Internet content providers include traditional media companies that have migrated online as well as pure-play Internet players. Only one publicly traded content provider, ZDNet, reported an operating profit in 1999. All that was before the dot-com stock implosion this year.
Copyright November 2000, Crain Communications Inc.