Entertainment One revenues dipped by 2 percent to £405 million ($518 million) for the first half of the year, as strong growth in its Family & Brands division was offset by lower results from the Film & Television segment.
The Family & Brands segment was boosted by consumer product rollouts and the contribution from high-margin SVOD deals. Peppa Pig and PJ Masks continue to drive gains for the division, which posted revenues of £76 million ($97 million), a 29-percent increase. Overall Film & Television revenues fell by 7 percent to £331.5 million ($424 million), with lower theatrical, transactional and production revenues, while broadcast and licensing revenues rose by 20 percent to £175 million ($224 million).
“The first half performance saw strong growth in Family & Brands, scripted drama, non-scripted and SVOD revenues in film and television,” said CEO Darren Throop. “This was achieved as we continued to transition our film distribution activities towards production, EBITDA increased as the margin mix improved. Once again our library has increased in value, underlining our commitment to invest in the best quality content and unlock the value and power of creativity across our businesses. In an industry where content is increasingly valuable, this positions us well for the future. Looking ahead, we anticipate further progress for the Family & Brands properties in China and around the globe, a number of initiatives for Peppa Pig will consolidate its position as one of the leading preschool brands in the world, as well as the wider merchandising phase for PJ Masks in China. The Film a Television Division has 74 percent of the full year’s expected TV programming margin already greenlit or committed. There is also a full pipeline of development projects across Film & Television which will help drive future growth. Prospects remain bright and eOne is on track to deliver FY19 financial performance in line with management expectations.”
The company posted a loss of £40.1 million for the period as a result of one-off restructuring charges.