Was This The Best of Years or the Worst? Or Maybe Somewhere in The Middle...

Well, 2008 is over and it does my heart good to say goodbye to the old and in with the new. It truly has been the most unique and frustrating I have ever witnessed (I wasn’t around for 1929.)

As for MediaNet and BSP Rewards, the year showcased many opportunities and several challenges.

Our stock started the year at around .17 and ended at about .04 with some people selling at the last minute for tax write-offs. The price reduction seems to reflect everything that has happened in the overall market (if indeed a stock of our size really reacts to market conditions.)

This was a year of growth, but maybe more so of development. Yes, we are going to end the year with an increase in revenue over last year (and that is good) – but the lessons we learned and the growing pains we experienced were worth their weight in gold.

The organic growth numbers from our existing rewards malls has been considerable. We have a pipeline full of programs that we hoped would launch during the last three months and are now scheduled to commence in the upcoming quarters. As the saying goes, “there is many a slip twixt the cup and the lip” but if nothing spills, everyone concerned with BSP will be happy campers.
On the plus side of the ledger, we accomplished some pretty impressive things in 2008 which could result in some exciting growth in ’09. We were able to use our upgraded platform as a vehicle to create new, innovative rewards programs with our clients, several of which will launch early next year. Going into the year we have a better perspective on the extended scope of our platform and some unique areas where our program may exhibit higher usage and more attraction.

We signed agreements with two new marketing partners that have already borne fruit and we look forward to launching large scale programs through them in the coming months. These new relationships, combined with our existing marketing partners and in-house marketing efforts offer exciting opportunities.

On the light side of things, we had another fun-filled holiday party. It was held at the office as usual (to keep the costs down of course.) Our entire staff of 13 (and some of their family members) attended along with a few members of our Board. James (our head techie) and Ema (our all around administrator), and Stefanie (Business Development Director) planned, coordinated and acted as MC for the silly party games (great fun) we play every year. It felt good to share the camaraderie and laughter with the greatest staff anyone could ask for.
So to answer my original question….it was all of the above, but because of the roll over programs coming up, 2009 is looking good!

I will keep you posted. Until next year….