Entertainment One's Quarterly Revenue Rises 40 Percent
LONDON – Canadian producer and distributor Entertainment One on Wednesday said that its revenue for the first quarter of its fiscal year was up more than 40 percent over the year-ago period, driven by digital revenue that more than doubled.
That has left digital revenue accounting for more than 20 percent of total company revenue.
Entertainment One didn't detail its revenue figures or earnings for the quarter ended June 30. The company said though that as of the midyear mark, full fiscal year earnings are expected to be in line with management expectations.
Its financials have benefited from the $230 million acquisition of Alliance Films earlier this year.
The deal created the largest independent film distributor in the U.K. and Canada. The merged company also has broader international reach across the U.S., Australia, the Benelux countries and Spain.
Entertainment One also highlighted on Wednesday that its year-to-date investment in content is up 85 percent from its spending in the same period of 2012.
That will bring full-year spending to more than $385 million (£250 million), it said.
The group plans to release more than 250 films during the current financial year, including The Hunger Games: Catching Fire, Red 2 and Ender's Game.
Entertainment One also detailed on Wednesday that film revenue for the first fiscal quarter was up by more than 65 percent, or in line with last year when adjusting for the acquisition of Alliance. The gain was driven by 68 box-office releases, compared to 49 in the prior year, and the performance of the expanded library of films.
Total box-office revenue of $68 million was more than three times prior-year levels. Theatrical releases have included Now You See Me, The Place Beyond the Pines, Scary Movie 5 and Behind the Candelabra. DVD releases have included Django Unchained, Safe Haven and The Silver Linings Playbook.
In its TV business, Entertainment One highlighted the continuing success of kids show Peppa Pig, which it said "continues to perform well internationally, and in the U.S. it is now enjoying two primetime slots on Nick Jr."