The Company converted to fee-based fantasy products in 2002, and this fall offered a suite of fantasy products including its award-winning customizable league management service, and other premium fantasy games in which an individual can either create or join an existing league. For the first time beginning in 2003, certain of the Company's fee-based fantasy products are co-branded and available to NFL.com users under the terms of a new revenue sharing agreement between the Company and the NFL, which helped contribute to the Company's revenue growth in 2003. More than 80,000 paid leagues, consisting of approximately 800,000 teams, were sold from all the Company's fantasy football products this year, an increase of approximately 25% over total paid leagues in 2002. The average price per unit for the league management service increased to over $133.00 in 2003, representing an increase of 6% over the average price in 2002.
"We enjoyed significant growth with our fantasy football products this year, despite increased competition in the marketplace," said Michael Levy, founder and CEO of SportsLine.com. "It is a testament to the quality and reliability of our products that over 85% of our paying leagues from our 2002 league manager product returned this year. Our users have enjoyed exceptional performance all season long from our live scoring and the other unique features of our league management product that separate SportsLine.com from other fantasy products."
SportsLine.com's fantasy league manager product, which has been an industry leader since 1996, has been voted Best Football League Manager four years running by the Fantasy Sports Trade Association.
SportsLine.com has generated approximately $14.4 million from fantasy football and baseball subscriptions in 2003. This represents an increase of approximately 40% over the combined billings generated from fantasy football and baseball subscriptions in 2002.
About SportsLine.com, Inc.
SportsLine.com (Nasdaq:SPLN) is at the leading edge of media companies providing Internet sports content, community and e-commerce. As the publisher of CBS SportsLine.com and the official Web sites of the NFL, PGA TOUR and NCAA Sports, the Company serves as one of the most comprehensive sports information sources available, containing an unmatched breadth and depth of multimedia sports news, information, entertainment and merchandise. SportsLine.com also serves as a primary sports content provider for America Online.
Note: This press release contains forward-looking statements, which involve risks and uncertainties. SportsLine.com's actual results could differ materially from those anticipated in these forward-looking statements. Factors that might cause or contribute to such differences include, among others, competitive pressures, dependence on advertising revenues, which are difficult to forecast, the growth rate of the Internet, constantly changing technology and market acceptance of the company's products and services. Investors are also directed to consider the other risks and uncertainties discussed in SportsLine.com's Securities and Exchange Commission filings, including those discussed under the caption "Risk Factors That May Affect Future Results" in SportsLine.com's latest Annual Report on Form 10-K. SportsLine.com undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SportsLine.com Inc. Corporate Communications (954) 489-4000