Last August, the digital out-of-home media owner signed an £8m three-year deal to sell ads around sport shown in pubs and bars, including English Premier League football and Indian Premier League cricket. It had held the contract for 12 months.
In the six months to December 2008 - the latest financial figures to be released - Avanti generated £2.39m in revenue. Under the contract, that would have included £1.33m from the Setanta deal.
Although the contract is thought to be worth about 40% of the company's revenue, Avanti managing director Jamie Ball said Setanta was increasingly less important as a "contribution to Avanti's bottom line".
He said the "chunk of retained income" was not "enormously significant" after the contract renegotiation and Avanti Screenmedia had other products "in the pipeline".
In early June, former ITV chief executive Mick Desmond and former Mindshare chief executive Simon Rees left their respective roles as non-executive chairman and chief executive of Avanti Screenmedia.
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