Omnifone, a provider of cloud-based digital music services to RIM for BBM Music and others, have reported its first annual profit today. Omniphone reported operating cash flow of $6.1 million for the fiscal year ended April 30. Revenue rose 118 percent to $47.2 million.“Profitability and the increase in revenue are a result of the successful launch of three global services in just 12 months, including Sony Music Unlimited, rara.com and RIM’s BBM Music,” the company said.“We have experienced fantastic momentum on all fronts over the past year and have achieved profitability as a result,” said Omnifone CEO Jeff Hughes. “The growth of smartphones, connected devices and the availability of high-speed connectivity has led to an increased demand for cloud-based music services, opening up a land grab opportunity for the digital music industry.â€While Research In Motion has been relatively mum on the success of BBM Music, perhaps they’re secretly doing quite well. Nonetheless, it is great to hear about the success of a company who has been directly influenced by BlackBerry users.via Hollywood Reporter
Tuesday, September 11, 2012
BBM Music Service Provider, Omniphone, Sees Tremendous Growth (September,2012)