EXHIBIT 99.1
(HOLLYWOOD MEDIA LOGO)
HOLLYWOOD MEDIA CORP. ANNOUNCES
2006 FOURTH QUARTER AND YEAR-END RESULTS
Fourth Quarter Revenues Up 31.7% to $35.7 Million; Full-Year Revenues up 28.3% to $115.9 Million
Broadway Ticketing Deferred Revenue up 26.4% at Year End
(Boca Raton, FL — March 13, 2007) — Hollywood Media Corp. (NasdaqGM: HOLL), a leading provider of news, information and ticketing covering the entertainment and media industries, today announced financial results for the fourth quarter and year ended December 31, 2006.
FOURTH QUARTER AND FULL-YEAR 2006 FINANCIAL RESULTS
As previously reported, Hollywood Media’s Baseline StudioSystems business unit was sold to The New York Times Company in August 2006. For purposes of the financial results presented in this press release in accordance with GAAP, the gain on the sale and the operating results of Baseline StudioSystems are reported as discontinued operations and excluded from Hollywood Media’s net revenues and results of continuing operations for all periods presented. This presentation provides more meaningful year-to-year comparisons of Hollywood Media’s continuing operations.
Hollywood Media’s net revenues for the three months ended December 31, 2006 increased 31.7 percent to $35.7 million compared to $27.1 million for the fourth quarter of 2005. For the year ended December 31, 2006 net revenues increased 28.3 percent to $115.9 million compared to $90.4 million in 2005.
The loss from continuing operations for the fourth quarter of 2006 decreased by 28.3 percent to $1.2 million, compared to a $1.6 million loss from continuing operations in the fourth quarter of 2005. For the full year 2006, the loss from continuing operations decreased by 22.5 percent to $7.4 million, compared to the $9.6 million loss from continuing operations in 2005.
EBITDA (Modified)* (which excludes the gain on sale and operating results of Baseline StudioSystems) for the fourth quarter of 2006 was a loss of $716,883 compared to a loss of $894,499 in EBITDA (Modified) for the fourth quarter of 2005. The Company notes that the EBITDA (Modified) for the fourth quarter of 2006 includes, among other things, the following items: a gain of $56,536 due to a change in the fair value of a derivative liability associated with certain warrants; and aggregate non-cash charges of $351,502 in stock-based compensation expense.
EBITDA (Modified)* for the full year 2006 was a loss of $3.8 million compared to a loss of $7.6 million in EBITDA (Modified) for the full year 2005.

 


The following information was filed by Hollywood Media Corp (HOLL) on Tuesday, March 13, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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