NEW YORK (Hypebot) – The Orchard is almost in the black with a loss for the third quarter of under $59,000. Quarterly revenue was up 118% from the same quarter last year to almost $15 million. 8% of revenue came from recently acquired TVT. Paid downloads grew to 12.5 million in the quarter up 133% from a prior year from a growing offering of 1.3 million tracks.
"Simply put we had a great quarter, CEO Greg Scholl told yesterday's earnings call. "We’re operating our business effectively at net breakeven."
