In its quarterly filing with the Securities and Exchange Commission, ITVN CEO Charles Prast said that revenue from operations rose to $506,000, while the company’s net loss in operations decreased to $1,067,000 from $1,838,000 in 2006.
XTV offers more than 175 adult channels from a long list of well-known adult brand names, including Wicked Pictures, Danni, Zero Tolerance, 3rd Degree and DreamGirls.
With its proprietary video-on-demand technology, ITVN customers connect a set-top box to an existing broadband router, plug in the set-top connector to a television set, and subscribe to the VOD channels.
While prices vary for its offerings, XTV adult-channel bundles start at $9.95 a month, with an additional $99.95 for the set-top box.
ITVN markets XTV and other products in the U.S., Asia, the U.K. and Germany.
The company, however, has had a tough time achieving a commercial success with its service. ITVN posted net losses of $7.3 million in 2006 and $6.2 million in 2005.
