Live Current Media Revenues and Losses Shrink
Tuesday, August 17th, 2010
Perfume.com owner announces revenue and earnings for first half of 2010.
Live Current Media, who’s primary business is now running Perfume.com, announced shrinking revenue numbers for the second quarter 2010. But its losses also shrunk.
For Q2 the company grossed $696,376 in revenue, down 59% from last year. For the first half of the year, the company lost $311,945 compared to $2,331,839 for the same period last year. But note that this past quarter’s earnings included over $1 million in gains from sale of domain names and the realization of gains from the sale of cricket.com.
The company blames the falling revenue on both the recession and the planned transition of perfume.com from a discount fragrance site to a luxury brand site. It has hired a new firm to develop its upgraded web site. Hopefully this one will perform better than earlier design firms the company has hired, who charged way to much and delivered very little.
Further Reading:
This online luxury brand fragrance strategy is doomed to fail. Any person who has ever shopped online should know that consumers only shop at pure play etailers for the convenience and to save some money.
Why would someone pay full retail at perfume.com rather than from the online stores of the more trusted, established brick and mortar fragrance and cosmetics retailers such as sephora, perfumania or macy’s?
My crystal ball tells me that Hampson will once again turn to flogging the company’s amazing domain assets at below market value in order to pay for another of his failed strategies. Word on the street is that he recently sold Importers.com for a shockingly low price.