EOne Reports 40% Hike In Revenues For First Quarter

Entertainment One completed its acquisition of Alliance Films in January, expanding its distribution network to include the U.S., Canada, the UK, Australia, Spain, South Africa and Benelux. The company today reports a 40% increase in revenues for the first quarter ended June 30 as compared to the same period last year, driven in part by digital revenues which more than doubled. Its investment in content and programming has jumped 85% and the company says full-year earnings are in line with management expectations. Revenues from film have increased by over 65% on the prior year with 68 theatrical releases and box office of $68M, three times the 2012 result. At its first Cannes as a combined group this year, it scooped up multi-territories on Naomi Watts-starrer Diana, one of the higher-profile pictures shopped at the market. Also among the roughly 250 films eOne will release during the current financial year are The Hunger Games: Catching Fire, RED 2 and Ender’s Game. On the TV side, the 2013 production slate includes Season 2 of Saving Hope, Season 3 of Hell On Wheels and Season 4 of Haven. New shows in production include Discovery miniseries Klondike. Net debt at June 30 was higher than the corresponding point in 2012, primarily as a result of the Alliance acquisition, the company said.

This article was printed from https://deadline.com/2013/07/eone-reports-40-hike-in-revenues-for-first-quarter-547858/