It has been no secret that the advertising industry has not been completely happy with the products that Comscore has put out for years. Senior executives from the advertising industry have complained for years about the organization’s high cost of products, and their lack of ability to provide accurate measurement.
Earlier this month Comscore reported its second quarter results for 2019:
- Year-over-year revenue for the second quarter declined 4.4% to $96.9 million
- Net loss of $279.5 million, or $(4.61) per share
It should come as no surprise that Comscore announced they will eliminate 8% of their workforce due to weak financials. The company plans to restructure its product and sales organization which will cost the company $1.5 million to $2.5 million. Moving forward the reorganization plan is estimated to help focus on its core growth areas and reduce staff expenses that will decrease annualized operating costs by $20 million.