How the streaming revolution has transformed the fortunes of Sheffield-based ZOO Digital Yorkshire News

ZOO Digital Group, which is a provider of media services to the global entertainment industry, has provided an update on trade and outlook for the fiscal year ending March 31, 2022.

ZOO said its full-year revenue is now expected to be at least $65 million, an organic growth acceleration from a year earlier of at least 65% and ahead of previous management guidance of at least $65 million. 57 million.

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The statement added: “Of this figure, the board estimates that approximately $10 million is attributed to regional launches of major streaming services that are one-off rather than repeating in nature. EBITDA (adjusted for payments based on in stock) increase by at least 44% from the prior year to at least $6.5 million.

Sheffield-based group ZOO Digital said today that its full-year revenue and profit are expected to be materially above expectations as its performance is boosted by the streaming revolution.

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“The group has continued to benefit not only from the strong international rollout of existing broadcast services, but also from increased market share through new service offerings and increased customer adoption of ZOO’s dubbing service. .

“The board and senior management have invested heavily in international capacity and presence to support future growth and while future visibility is limited, the board expects continued revenue growth in FY23, albeit at a lower rate. than expected in fiscal year 22.

“The group may be contracted by major media companies to work on further territorial releases in future periods, the potential of which is currently uncertain, and will update the market on developments in July.”

Stuart Green, CEO of ZOO Digital, said: “We look forward to reporting a year of outstanding growth, reflecting ZOO’s role at the heart of the ongoing streaming revolution. The worldwide adoption of streaming and the associated need for localized content is generating strong demand for the group’s services, particularly as we support global media giants to prepare their content for launch in new territories.

“Looking ahead, we are ideally positioned with our scalable, cloud-based proposition to deliver continued strong growth as we take a larger share of an ever-expanding market.”

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This notice was published: 2022-03-22 07:19:41

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