January trading update shows continued revenue growth
ZOO has continued its strong revenue growth into the second half of the year with a growing pipeline of orders across all service lines. The Group is benefiting from the resumption of new productions, which had been on hold due to the pandemic, together with ongoing migration of catalogue titles to streaming platforms and regional territory launches.
- Full year revenues are now expected to be at least $57 million (FY21: $39.5 million, +44%), with growth in the second half over the first half of at least 11%, and at least 29% ahead of H2 2021.
- Localisation revenues are expected to grow by at least 55% and media services by at least 30%.
- Revenues for the year are anticipated to be ahead of market expectations, yielding additional profits that are being reinvested in staff, infrastructure, facilities and international operations to extend ZOO's capacity and support growth.
Stuart Green, ZOO Digital’s CEO, commented:
"As major media companies expand their streaming platforms internationally, the global spend on film and TV programming continues to rise. This content must be localised for regional audiences. With these favourable dynamics at play, ZOO's technology-enabled end-to-end service offering positions it well to continue to grow and take a greater share of an expanding market.”
