8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 13, 2007

HOLLYWOOD MEDIA CORP.

(Exact Name of Registrant as Specified in its Charter)

Florida	1-14332	65-0385686
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
2255 Glades Road, Suite 221A, Boca Raton, Florida		33431
(Address of Principal Executive Office)		(Zip Code)

Registrant’s telephone number, including area code (561) 998-8000

Not Applicable

(Former Name or Former Address, If Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Press Release

SECTION 2 — FINANCIAL INFORMATION

Item 2.02 Results of Operations and Financial Condition.

The following information is furnished pursuant to Item 2.02 of Form 8-K.

On March 13, 2007, we issued a press release announcing Hollywood Media’s financial results for the fourth quarter and year ended December 31, 2006, which is furnished herewith as Exhibit 99.1 hereto.

The information in this Item 2.02 of this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

The following exhibit is filed in connection with the disclosure pursuant to Item 2.02 of this Form 8-K:

99.1 Press Release of Hollywood Media Corp. dated March 13, 2007 (“Hollywood Media Corp. Announces 2006 Fourth Quarter and Year-End Financial Results”).

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HOLLYWOOD MEDIA CORP.
By:	/s/ Mitchell Rubenstein
	Mitchell Rubenstein
	Chief Executive Officer

Date: March 13, 2007

3

EX-99.1

EXHIBIT 99.1

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.

HOLLYWOOD MEDIA CORP. ANNOUNCES 2006 FOURTH QUARTER AND YEAR-END RESULTS

Net loss for the fourth quarter of 2006 was $1.7 million, or $0.05 per basic and diluted share. Net loss for the fourth quarter of 2006 included $0.5 million of income tax charges relating to the Baseline StudioSystems disposition. Net loss for the fourth quarter of 2005 was $1.4 million, or $0.04 per basic and diluted share. Net loss for the fourth quarter of 2005 included $0.2 million of income from Baseline StudioSystems, which represents the reclassified activities for the period from continuing operations to discontinued operations. Net income for the full year 2006 (which includes the gain on sale of Baseline StudioSystems) was $9.5 million, or $0.29 per basic and diluted share, compared to a net loss of $8.9 million for the full year 2005, or a net loss of $0.28 per basic and diluted share.

The Company ended 2006 with $27.4 million in cash and cash equivalents on hand, compared to cash and cash equivalents of $6.9 million at December 31, 2005. The cash and cash equivalents balance at December 31, 2006 does not include a $2.8 million cash portion of the purchase price for Baseline StudioSystems currently held in escrow and expected to be released to Hollywood Media during 2007 under the terms of the sale.

“In the fourth quarter, we generated strong top-line growth in our three major segments, with a record performance from our Broadway Ticketing business,” commented Mitchell Rubenstein, Hollywood Media’s Chief Executive Officer. “We expect the momentum in Broadway Ticketing to continue as highlighted by our record deferred revenue for Broadway Ticketing of $20.7 million at December 31, 2006, which represents sales for future Broadway performances.”

Mr. Rubenstein continued, “We believe the Company’s prospects remain strong and that we are making the necessary investments and strategic add-ons to position Hollywood Media for profitability and success. While we continue developing our businesses, we are also working with JPMorgan as our financial advisor to actively consider opportunities for our businesses, including potential dispositions. As a result of this ongoing process, the Company currently is precluded from implementing certain alternatives for returning cash to shareholders which had been under consideration by our Board of Directors. When this process is concluded, the Board intends to resume consideration of alternatives for returning cash to shareholders. We cannot make assurances as to the timing or occurrence of any such events.”

FOURTH QUARTER 2006 BUSINESS REVIEW

During the fourth quarter of 2006, Broadway Ticketing revenue was $31.1 million, a 31.9 percent increase as compared to the fourth quarter of 2005. EBITDA* for the Broadway Ticketing division in the fourth quarter of 2006 was $1.7 million, a 57.6 percent increase as compared to the fourth quarter of 2005. These increases relate to Broadway.com’s growing position as a premier destination site for purchasing tickets to Broadway shows and viewing editorial and multimedia coverage of Broadway. Increased average Broadway ticket prices and strong holiday tourism also contributed to the segment’s performance.

Deferred revenue related to Broadway Ticketing, a leading indicator of future Broadway Ticketing revenues, increased to $20.7 million as of December 31, 2006, up 26.4 percent compared to $16.4 million of deferred revenue as of December 31, 2005.

Subsequent to the close of the quarter and as previously reported, the Broadway Ticketing division acquired the Broadway ticketing business of Showtix LLC which focuses on group ticket sales. This acquisition strengthens the Company’s position as one of the leading sellers of Broadway tickets and the Company expects meaningful EBITDA contribution from this transaction beginning in the third quarter of 2007 as it integrates operations and eliminates redundancies.

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HOLLYWOOD MEDIA CORP. ANNOUNCES 2006 FOURTH QUARTER AND YEAR-END RESULTS

The Company’s Theatre.com operations in the U.K., which commenced selling West End tickets in February 2006, had revenues of $926,762 and operating expenses of $951,545 for the fourth quarter of 2006.

The Company’s Data Business segment (excluding Baseline StudioSystems for all periods) contributed revenue of $1.7 million during the fourth quarter of 2006, an increase of 28.4 percent from the prior-year period. Segment EBITDA* improved 42.4 percent to $715,793, as compared to the prior-year period, on the strength of high-margin incremental revenues from new customers.

Revenues for the Ad Sales segment increased 28.7 percent from the prior-year period to $2.3 million in the fourth quarter of 2006 primarily as a result of the full quarter contribution from CinemasOnline acquired in November 2005. The Ad Sales segment includes Internet advertising sales on Hollywood.com and Broadway.com as well as Internet and other advertising sales by CinemasOnline. During the period, Hollywood.com continued to generate increased traffic with approximately 35 percent of site traffic in the fourth quarter coming from Hollywood.com’s popular fan sites which were acquired in January 2006.

EBITDA* for the Ad Sales segment was a loss of $264,452 in the fourth quarter of 2006. EBITDA for the quarter was impacted by a higher level of costs in the period for website development projects. These projects realized improvements to the fan sites as well as other enhancements to the Hollywood.com site expected to further drive traffic. Recently the Company significantly increased its ad sales force to capitalize on strong user trends and higher advertising inventory availability resulting from the growth in page views on Hollywood.com.

Hollywood.com Television (“HTV”), our free Video-on-Demand cable TV network, generated $58,299 in revenue for the fourth quarter of 2006 and $174,899 for the year. HTV’s capacity for additional advertising slots and corresponding revenue are anticipated to grow in 2007 as ad sell-through and viewer usage increases. Distribution of HTV through cable operators has grown to approximately 19 million VOD-capable homes as of December 31, 2006, from approximately 15 million homes as of December 31, 2005.

SELECT SEGMENT HIGHLIGHTS

The following tables provide revenue, EBITDA* and net income data for our three highest revenue generating segments: Broadway Ticketing, Data Business and Ad Sales. The tables below should be reviewed in conjunction with (i) the “Note on EBITDA” in this press release below and (ii) the attached financial tables which include EBITDA results for all of our reportable segments, with reconciliations to the GAAP results reflected in Hollywood Media’s consolidated income statements. The segment results

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HOLLYWOOD MEDIA CORP. ANNOUNCES 2006 FOURTH QUARTER AND YEAR-END RESULTS

for our operating divisions do not include expenses in our “Other” segment comprised mainly of specified corporate and public company expenses.

Quarter Ended December 31 (“Q4”)

Net Revenue

	Q4 2006			Q4 2005			% Change
Broadway Ticketing	$	31,122,716		$	23,586,825			31.9	%
Data Business	$	1,716,691		$	1,337,228			28.4	%
Ad Sales (a)	$	2,302,275		$	1,789,369			28.7	%
EBITDA*
	Q4 2006			Q4 2005			% Change
Broadway Ticketing	$	1,658,294		$	1,052,354			57.6	%
Data Business (b)	$	715,793		$	502,488			42.4	%
Ad Sales (a)	$	(264,452	)	$	(144,751	)		-82.7	%
Net Income (Loss)
	Q4 2006			Q4 2005			% Change
Broadway Ticketing	$	1,573,473		$	986,651			59.5	%
Data Business (b)	$	667,087		$	457,960			45.7	%
Ad Sales (a)	$	(253,134	)	$	(229,033	)		-10.5	%
Year Ended December 31 Net Revenue
	2006			2005			% Change
Broadway Ticketing	$	98,102,961		$	78,890,718			24.4	%
Data Business	$	6,478,478		$	5,359,222			20.9	%
Ad Sales (a)	$	9,909,996		$	4,513,676			119.6	%
EBITDA*
	2006			2005			% Change
Broadway Ticketing	$	4,190,313		$	3,114,683			34.5	%
Data Business (b)	$	2,417,635		$	1,835,288			31.7	%
Ad Sales (a)	$	(58,452	)	$	(1,355,567	)		95.7	%
Net Income (Loss)
	2006			2005			% Change
Broadway Ticketing	$	3,914,572		$	2,862,676			36.7	%
Data Business (b)	$	2,237,400		$	1,635,418			36.8	%
Ad Sales (a)	$	(927,021	)	$	(1,855,796	)		50.0	%

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HOLLYWOOD MEDIA CORP. ANNOUNCES 2006 FOURTH QUARTER AND YEAR-END RESULTS

(a)

The Ad Sales segment includes Internet advertising sales on Hollywood.com and Broadway.com and Internet and other advertising sales by CinemasOnline. The Ad Sales segment includes the results of CinemasOnline for the period since it was acquired in November 2005.

(b)

Data Business results include accrued compensation expense of $114,718 and $508,161 for the three months and year ended December 31, 2006, respectively, relating to potential future performance-based compensation under an employment agreement for the senior manager of this segment, which agreement was not in place during the corresponding 2005 periods. These particular expense accruals which impacted 2006 results are anticipated to be at a substantially reduced level after the end of 2006. The EBITDA presented for the Data Business is “EBITDA (Modified)” which excludes the sold Baseline StudioSystems business.

TELECONFERENCE INFORMATION

Management will host a teleconference to discuss Hollywood Media’s 2006 fourth quarter financial results on Tuesday, March 13, 2007 at 4:30 p.m. Eastern Time. To access the teleconference, please dial 888-200-4690 (U.S.) or 973-935-8767 (international) approximately five minutes prior to the start of the call. The reference passcode for the call is 8545932. The teleconference will also be available via live webcast on the investor relations portion of Hollywood Media’s Web site, located at http://www.hollywood.com/about_us/. Following prepared remarks, management will take questions from the audience via phone and e-mail. To ask a question via e-mail, please send your questions to questions@exec.hollywood.com in advance of, or during, the live call.

If you are unable to listen to the live teleconference at its scheduled time, there will be a replay available through March 20, 2007 and can be accessed by dialing 877-519-4471 (U.S.), 973-341-3080 (Int’l), passcode 8545932. An archived version of the webcast will also be available for a longer period on the investor relations portion of Hollywood Media’s Web site.

About Hollywood Media Corp.

Hollywood Media Corp. is a leading provider of news, information and ticketing covering the entertainment and media industries. Hollywood Media’s businesses include: its Data Business division including CinemaSource, EventSource, and ExhibitorAds; its Broadway Ticketing division including Broadway.com, 1-800-Broadway, Theatre Direct International, and London-based Theatre.com; and its Ad Sales division including Hollywood.com and the U.K.-based CinemasOnline. Other Hollywood Media businesses include Hollywood.com Television, a free VOD cable TV network, and Hollywood Media’s minority interest in MovieTickets.com.

*Note on EBITDA

EBITDA is a non-GAAP financial measure, defined as net income before interest, taxes, depreciation and amortization. EBITDA (Modified) is defined as loss from continuing operations before interest, taxes, depreciation and amortization on continuing operations. Hollywood Media has presented EBITDA in this release because it considers such information an important supplemental measure which management utilizes as one of its tools in evaluating performance and believes it is frequently used by securities analysts, investors and other interested parties in the evaluation and comparison of companies in our industry as well as our results of operations from period to period. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for Hollywood Media’s financial results as reported under GAAP. Some of these limitations are: (a) EBITDA does not reflect changes in, or cash requirements for, Hollywood Media’s working capital needs; (b) EBITDA does not reflect interest expense, or the cash requirements necessary to service interest

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HOLLYWOOD MEDIA CORP. ANNOUNCES 2006 FOURTH QUARTER AND YEAR-END RESULTS

or principal payments, on Hollywood Media’s debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and EBITDA does not reflect any cash requirements for such capital expenditures. Because of these limitations, EBITDA should not be considered as a principal indicator of Hollywood Media’s performance. Hollywood Media compensates for these limitations by relying primarily on Hollywood Media’s GAAP results and using EBITDA only supplementally. Hollywood Media has provided a reconciliation of net income to EBITDA in the attached tables.

Note on Forward-Looking Statements

Statements in this press release may be “forward-looking statements” within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous potential risks and uncertainties, including, but not limited to, the need to manage our growth and integrate new businesses, our ability to realize anticipated revenues, cost efficiencies and sources of capital, our ability to develop strategic relationships, our ability to compete with other media, data and Internet companies, technology risks, the volatility of our stock price, and other risks and factors described in Hollywood Media Corp.’s filings with the Securities and Exchange Commission including our Form 10-K for 2005. Such forward-looking statements speak only as of the date on which they are made. The financial results included in this press release are preliminary and subject to completion by the Company’s independent registered public accounting firm of its audit of the Company’s financial statements to be filed with the SEC as part of the Company’s Form 10-K report for 2006.

Attached are the following financial tables:

CONSOLIDATED BALANCE SHEETS
CONSOLIDATED STATEMENTS OF OPERATIONS
SEGMENT SUMMARY FINANCIAL DATA AND EBITDA RECONCILIATION

Contact:

Investor Relations Department
Hollywood Media Corp.
L. Melheim
ir@boca.hollywood.com
561-998-8000

HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

	December 31,			December 31,
	2006			2005
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	27,448,649		$	6,926,313
Receivables, net		4,161,240			3,728,115
Inventories held for sale		3,374,127			1,731,279
Deferred ticket costs		15,273,324			11,803,999
Prepaid expenses		2,453,424			2,299,484
Other receivables		2,603,416			2,185,562
Other current assets		3,031,344			53,122
Restricted cash		90,000			—
Current assets of discontinued operations		—			677,590
Total current assets		58,435,524			29,405,464
ACQUISITION ESCROW		—			107,314
PROPERTY AND EQUIPMENT, net		2,052,679			1,939,062
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED INVESTEES		282,714			546,907
INTANGIBLE ASSETS, net		1,918,369			1,840,569
GOODWILL		37,208,470			37,210,811
OTHER ASSETS		111,848			439,415
LONG-TERM ASSETS OF DISCONTINUED OPERATIONS		—			11,813,408
TOTAL ASSETS	$	100,009,604		$	83,302,950
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	3,237,844		$	3,793,211
Accrued expenses and other		6,768,578			5,869,861
Deferred revenue		23,834,217			19,518,532
Customer deposits		1,775,713			1,594,780
Current portion of capital lease obligations		63,411			58,167
Convertible debenture, net		—			940,927
Senior unsecured notes, net		6,375,399			—
Current liabilities of discontinued operations		—			1,026,026
Total current liabilities		42,055,162			32,801,504
DEFERRED REVENUE		662,993			644,045
CAPITAL LEASE OBLIGATIONS, less current portion		43,542			57,918
MINORITY INTEREST		62,040			88,138
OTHER DEFERRED LIABILITY		62,986			69,165
SENIOR UNSECURED NOTES, net		—			5,402,255
DERIVATIVE LIABILITY		1,423,464			1,778,000
LONG-TERM LIABILITIES OF DISCONTINUED OPERATIONS		—			62,833
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred Stock, $.01 par value, 1,000,000 shares authorized; none outstanding		—			—
Common stock, $.01 par value, 100,000,000 shares authorized; 33,476,530 and 32,703,457 shares issued and outstanding at December 31, 2006 and December 31, 2005, respectively		334,765			327,035
Additional paid-in capital		311,210,796			309,228,214
Deferred compensation		—			(1,787,500	)
Accumulated deficit		(255,846,144	)		(265,368,657	)
Total shareholders’ equity		55,699,417			42,399,092
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	100,009,604		$	83,302,950

HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	TWELVE MONTHS ENDED						THREE MONTHS ENDED
	DECEMBER 31,						DECEMBER 31,
	2006			2005			2006			2005
							Unaudited			Unaudited
NET REVENUES
Ticketing	$	98,102,961		$	78,890,718		$	31,122,716		$	23,586,825
Other		17,792,499			11,464,312			4,622,986			3,556,860
		115,895,460			90,355,030			35,745,702			27,143,685
OPERATING COSTS AND EXPENSES
Cost of revenues — ticketing		81,928,952			67,515,534			25,902,599			20,009,347
Editorial, production, development and technology (exclusive of depreciation and amortization shown separately below)		7,204,546			4,779,185			2,026,333			1,407,760
Selling, general and administrative		15,589,131			11,452,679			4,623,175			3,177,066
Payroll and benefits		15,600,177			14,688,004			3,988,169			3,514,278
Depreciation and amortization		1,879,405			1,468,334			374,506			316,939
Total operating costs and expenses		122,202,211			99,903,736			36,914,782			28,425,390
Loss from operations		(6,306,751	)		(9,548,706	)		(1,169,080	)		(1,281,705	)
EQUITY IN EARNINGS OF UNCONSOLIDATED INVESTEES		12,227			533,228			13,777			1,321
OTHER INCOME (EXPENSE)
Interest, net		(1,788,241	)		(546,171	)		(179,127	)		(413,861	)
Change in derivative liability		640,536			87,037			56,536			87,037
Other, net		1,025			44,523			141,808			22,418
Loss before minority interest and discontinued operations		(7,441,204	)		(9,430,089	)		(1,136,086	)		(1,584,790	)
MINORITY INTEREST IN (EARNINGS) LOSSES OF SUBSIDIARIES		4,910			(168,107	)		(29,441	)		(40,809	)
Loss from continuing operations		(7,436,294	)		(9,598,196	)		(1,165,527	)		(1,625,599	)
Gain on sale of discontinued operations, net of $524,265 of income taxes		16,328,241			—			(535,670	)		—
Income (loss) from discontinued operations		630,566			685,014			—			204,232
Income (Loss) from discontinued operations		16,958,807			685,014			(535,670	)		204,232
Net Income (loss)	$	9,522,513		$	(8,913,182	)	$	(1,701,197	)	$	(1,421,367	)
Basic and diluted income (loss) per common share
Continuing operations	$	(0.23	)	$	(0.30	)	$	(0.04	)	$	(0.05	)
Discontinued operations		0.52			0.02			(0.01	)		0.01
Total basic and diluted net income (loss) per share	$	0.29		$	(0.28	)	$	(0.05	)	$	(0.04	)
Weighted average common and common equivalent shares outstanding — basic and diluted		32,761,848			31,470,307			33,119,624			32,029,974

Hollywood Media Corp.
Segment Summary Financial Data and EBITDA Reconciliation

For the Year Ended December 31, 2006

	Broadway			Data					Intellectual
	Ticketing			Business (1)		Ad Sales (2)			Properties			Cable TV			Other (3)			Total
Net Revenues	$	98,102,961		$	6,478,478	$	9,909,996		$	1,229,126		$	174,899		$	—		$	115,895,460
Operating Income (Loss)		3,937,948			2,240,791		(978,399	)		163,953			(573,454	)		(11,097,590	)		(6,306,751	)
Net Income (Loss) from continuing operations		3,914,572			2,237,400		(927,021	)		189,364			(572,079	)		(12,278,530	)		(7,436,294	)
Add back (Income) Expense
Interest, net		(14,116	)		506		(26,344	)		(8,274	)		—			1,836,469			1,788,241
Taxes		—			2,751		(22,583	)		—			—			—			(19,832	)
Depreciation and Amortization		289,857			176,978		917,496			—			13,134			481,940			1,879,405
EBITDA Income (Loss) from continuing operations	$	4,190,313		$	2,417,635	$	(58,452	)	$	181,090		$	(558,945	)	$	(9,960,121	)	$	(3,788,480	)

For the Year Ended December 31, 2005

	Broadway			Data					Intellectual
	Ticketing			Business		Ad Sales (2)			Properties			Cable TV			Other (3)			Total
Net Revenues	$	78,890,718		$	5,359,222	$	4,513,676		$	1,550,580		$	40,834		$	—		$	90,355,030
Operating Income (Loss)		2,798,186			1,636,331		(1,848,811	)		379,636			(679,932	)		(11,834,116	)		(9,548,706	)
Net Income (Loss) from continuing operations		2,862,676			1,635,418		(1,855,796	)		750,742			(672,083	)		(12,319,153	)		(9,598,196	)
Add back (Income) Expense
Interest		(36,683	)		573		3,925			(5,985	)		711			583,630			546,171
Taxes		—			109		5,746			—			—			1,600			7,455
Depreciation and Amortization		288,690			199,188		490,558			1,955			120,761			367,182			1,468,334
EBITDA Income (Loss) from continuing operations	$	3,114,683		$	1,835,288	$	(1,355,567	)	$	746,712		$	(550,611	)	$	(11,366,741	)	$	(7,576,236	)

For the Three Months Ended December 31, 2006
(unaudited)

	Broadway			Data					Intellectual
	Ticketing			Business (1)		Ad Sales (2)			Properties			Cable TV			Other (3)			Total
Net Revenues	$	31,122,716		$	1,716,691	$	2,302,275		$	545,721		$	58,299		$	—		$	35,745,702
Operating Income (Loss)		1,535,400			669,874		(382,956	)		182,795			(142,995	)		(3,031,198	)		(1,169,080	)
Net Income (Loss) from continuing operations		1,573,473			667,087		(253,134	)		168,808			(142,995	)		(3,178,766	)		(1,165,527	)
Add back (Income) Expense
Interest, net		(419	)		286		(23,421	)		(1,677	)		—			204,358			179,127
Taxes		—			2,501		(107,490	)		—			—			—			(104,989	)
Depreciation and Amortization		85,240			45,919		119,593			—			2,918			120,836			374,506
EBITDA Income (Loss) from continuing operations	$	1,658,294		$	715,793	$	(264,452	)	$	167,131		$	(140,077	)	$	(2,853,572	)	$	(716,883	)

For the Three Months Ended December 31, 2005
(unaudited)

	Broadway			Data					Intellectual
	Ticketing			Business		Ad Sales (2)			Properties			Cable TV			Other (3)			Total
Net Revenues	$	23,586,825		$	1,337,228	$	1,789,369		$	389,429		$	40,834		$	—		$	27,143,685
Operating Income (Loss)		974,224			458,306		(231,395	)		78,259			(125,164	)		(2,435,935	)		(1,281,705	)
Net Income (Loss) from continuing operations		986,651			457,960		(229,033	)		41,154			(124,689	)		(2,757,642	)		(1,625,599	)
Add back (Income) Expense
Interest		(5,038	)		114		24			(2,383	)		—			421,144			413,861
Taxes		—			300		—			—			—			—			300
Depreciation and Amortization		70,741			44,114		84,258			200			3,459			114,167			316,939
EBITDA Income (Loss) from continuing operations	$	1,052,354		$	502,488	$	(144,751	)	$	38,971		$	(121,230	)	$	(2,222,331	)	$	(894,499	)

(1)	Data Business results include accrued compensation expense of $114,718 and $508,161 for the three months and year ended December 31, 2006, respectively, relating to potential future performance-based compensation under an employment agreement for the senior manager of this segment, which agreement was not in place during the corresponding 2005 periods. These particular expense accruals which impacted 2006 results are anticipated to be at a substantially reduced level after the end of 2006. The EBITDA presented for the Data Business is “EBITDA (Modified),” which excludes the sold Baseline StudioSystems business.
(2)	The Ad Sales segment includes Internet advertising sales on Hollywood.com and Broadway.com and Internet and other advertising sales by CinemasOnline. The Ad Sales segment includes the results of CinemasOnline for the period since it was acquired in November 2005.
(3)	The Other segment is comprised of corporate-wide expenses such as audit fees, proxy costs, insurance, accounting, centralized information technology, and includes consulting fees and other costs relating to compliance with the provisions of the Sarbanes-Oxley Act of 2002 that require Hollywood Media to assess and report on internal control over financial reporting, and related development of controls.