AOL’s local news network of blogs, Patch, had a pretty lousy 2011 – losing at least $100 million.
2012 is already looking much better.
But not as good as some sites are reporting.
Neiman Journalism lab reports: “Patch President Warren Webster says that January ad revenue alone equaled half of all of 2011 ad revenue.”
What AOL CFO Artie Minson actually told analysts during AOL’s Q1 earnings call is that Patch has already “booked” – or, agreed to sell in the future – so many ads in 2012 that the revenue from the fulfillment of these agreements would account for 50% of all the revenues Patch had in 2011.
Those “booked” ads might not run until November, for all we know from Minson’s statement.
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