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[BBC] Omnifone swings to profit as piracy crackdown continues

post #1 of 9
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Quote:
Originally Posted by BBC .co .uk 
Omnifone - the British firm that powers music streaming services from Sony and Blackberry - has posted its first annual profit in its nine year history.

The firm filed a pre-tax profit of £2.9m for the year-to-April, compared to a £21.7m loss last year.

Its chief executive linked the news to efforts to restrict internet piracy.

Jeff Hughes added that Omnifone now intended to make its service available to smaller businesses, paving the way for new music subscription products.

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post #2 of 9
Partially off topic... Blackberry has a music streaming facility?
post #3 of 9
Quote:
Originally Posted by s0up2up View Post

Partially off topic... Blackberry has a music streaming facility?
Exactly what I thought. If anything just just proves music piracy
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post #4 of 9
You claim fighting piracy made you finally earn a profit? I'm afraid not.
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post #5 of 9
How do you run a business for nine years with no profit, ever?
post #6 of 9
Yeah right as if ISP's blocking TPB and Demonoid going down helped them with this profit......
    
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post #7 of 9
Quote:
Originally Posted by noldevin View Post

How do you run a business for nine years with no profit, ever?

You have backers that believe in you, backers with large pockets.... And after 9 years off loss, they would be yearning for some kind of return... Don't expect any of that profit, to sit in the company as retained earnings, that is all going out to debt and share holders!
Quote:
Originally Posted by Stuuut View Post

Yeah right as if ISP's blocking TPB and Demonoid going down helped them with this profit......

Haha I doubt it as well... But it might influence people to buy legitimately... And coupled that with Blackberry's and Sony's push for greater revenues from music (Assuming they are using a commission method), then this is bound to happen.

My only thought... Is Britain's IP legislation, that powerful? To induce people to stop downloading? I know NZ's (My own) Legislation is one of the, if not the, harshest IP protection statute, world over....
post #8 of 9
Some people blame piracy for their failure in business, some say it has no effect. All I have to say about that is, every single pro athlete thanks their god of choice after a good game // season. Attributing success / failure to something does not necessarily make it so!
post #9 of 9
Quote:
Originally Posted by noldevin View Post

How do you run a business for nine years with no profit, ever?

lie your ass off and bury the profit into extravigant spending on luxury items for executive offiers etc.
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