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Freeserve announces new Internet TV portal as losses mount.

INTERNET BUSINESS NEWS-(C)1995-2000 M2 COMMUNICATIONS LTD

Pre-tax losses at UK Internet service provider Freeserve have doubled to GBP17.818m for the quarter ending 19 August.

Freeserve's unmetered access services are thought to be a key contributing factor to the company's rising losses, with each free account estimated to cost around GBP200, much of which goes to BT in phone charges according to Sky News.

However good news for investors could be found in the company's turnover figure, which was up by more than four times from last year's GBP3.4m to GBP14.6m. The number of users has also continued to rise, with 2.053m active registered accounts as of 24 September 2000.

In related news Freeserve has said that it will roll out an Internet television portal for Bush Internet TV, ONdigital and other TV platforms. The portal will be pre-set on Bush televisions and set-top boxes sold through stores owned by Freeserve's parent company Dixons and will also be available via ONdigital's Internet TV service ONnet.

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Title Annotation:Company Financial Information
Comment:Freeserve announces new Internet TV portal as losses mount.(Company Financial Information)
Publication:Internet Business News
Article Type:Brief Article
Geographic Code:4EUUK
Date:Sep 29, 2000
Words:181
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