OPW – May 17 – Spark Networks announced its Q1 results on Monday. Q1 revenue was $9.9M, a YOY decrease of 27% driven by a decrease in average paying subscribers, and an 8% decrease from the prior quarter. Net loss was $3.4M. Spark Networks is reducing direct marketing spend for ChristianMingle by 65-75%, mainly by cutting the TV ads 2/3 and focusing on their church partnership program to acquire new members. Spark is also laying off close to 50 employees, mainly from the customer service department to save ~$4.5M annually.
The full article was originally published at Spark Networks website, but is no longer available.