MIVA to Cut Its Own Ad Spend

miva_logo.gifPerformance-based online ad network and toolbar provider MIVA plans on cutting its own ad spending. As noted in the company’s Q2 ’07 earnings announcement, the firm spent $9.1 million in Q2 2007, up from $7.5 million the previous quarter.

But, the company said in a statement, “The approximate $1.6 million increase in advertising spend did not yield the immediate anticipated results in toolbar growth and revenue.” So, it will reduce ad spending this quarter. I’d guess the company does mostly online advertising.

MIVA’s reported revenues for Q2 2007 were lower than the same quarter in ’06, down from $41.4 to $39.6 million. In Q1 ’07 they came in at $43.2 million.

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