Gas Station TV Sees Record-Breaking Revenues, Profits
Visit CBS Detroit's
Birmingham-based Gas Station TV Monday announced financial success for 2010 and expansion plans for 2011.
GSTV reported triple-digit revenue growth in 2010 over 2009, as well as record EBITDA (earnings before interest, taxes, depreciation and amortization), operating profit margin and net income for 2010.
Privately held GSTV did not release dollar figures.
Gas Station TV installs high-quality ruggedized flat panel TV screens atop gas pumps. The screens show a mix of news, weather, sports, entertainment — and, of course, advertising. The company conducted its last capital raising round in 2007.
The company said that due to what it called “sustained financial success and adoption of the video-at-the-pump medium by advertisers,” GSTV will double its network size in the next 12 months. Expansion will include more than 50 new markets, bringing GSTV to over 150 markets nationwide, and additional stations in GSTV’s current markets.
“As we significantly expand our national footprint this year, and more advertisers use GSTV to fill the gaps in their media mix with our DVR-proof television platform, we need great people to join and help us with this rapid growth,” said David Leider, CEO of Gas Station TV.
As a result, GSTV is currently recruiting for multiple positions open in Detroit, New York, Los Angeles and Chicago in departments such as IT, creative, business development and sales.
“The recent merger of some of our gas competitors with other non-gas media assets leaves GSTV as the only major player 100 percent focused on video at-the-pump,” Leider said. “Many deal promoters have extolled the virtues of bundling disparate media assets, purporting advertiser efficiencies. However trying to be all things to all people usually results in a negative for the client. We remain confident that ‘Gas is King,’ and we will continue setting the standard for viewer experience and customer service across the largest national footprint at our corporate gas retail partners.”
More at www.gstv.com.