GoFish Projects $8.5-$11M Revenue for the Year; Saw

GoFish, a network which represents a variety of youth sites for ad sales including several virtual worlds, today announced its first quarter earnings. The company reported revenue guidance for the year, ranging between $8.5 million and $11.0 million. Q1 2008 saw $657,150 in revenue, a $633,076 jump from Q1 2007. Of course  GoFish didn't officially launch its network until this quarter. That sort of jump makes sense, but it also shows a quick uptake of the network's services.

As of April 30, the network claims a reach of 20 million unique users, across partnerships with virtual worlds like WeeWorld, Magi-Nation: Battle for the Moonlands, Urbaniacs, and Whyville. The network targets the 6- to 17-year-old demographic and their co-viewing parents, which, as we've seen, isn't a bad way to approach adults through virtual worlds.

"Now that all of our announced relationships are in full effect and our expanded sales team is in place, we expect to realize greater revenue in subsequent quarters and have already seen a significant increase in activity since our formal launch at the end of February," Tabreez Verjee, President of GoFish , said  in a statement.  "In only a few short months we have successfully refined our business model, engaged top-tier industry professionals, secured dozens of leading brand advertisers, and built our network to be a leader focused on the youth demographic and the third largest opportunity for advertisers behind Disney Online and Nickelodeon."