Entertainment One Sees Profit Boost, Eyes Expansion

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TORONTO: Announcing Entertainment One's results for the six months ended September 30, 2014, CEO Darren Throop said that with the strategy in place for the key pillars of film, TV, family and digital, the goal is to double the size of the company in the next five years.

The company, which has been listed on the London Stock Exchange for the last seven years, announced revenues for the period of £330.5 million ($518 million), with profit before tax doubling to £2.4 million ($3.8 million). The period saw £147 million ($231 million) being invested in content, with a full-year target of £280 million ($439.1 million).

Throop pointed to the particular strengths of the company's television business. "The group is already a beneficiary of a new 'golden age' for premium television production and from a base of exceptional properties such as The Walking Dead, Rookie Blue and Hell on Wheels we are ideally positioned to deliver strong growth. Our strategy is to expand our television business in Canada further and to increase our production presence into the U.S., the U.K. and Australian markets. We will achieve organic growth through the launch of a new development fund which is being made available to support early-stage projects with talented producers. We will also pursue acquisitions which deliver premium product and provide the foundation on which to build a global network of relationships with the best creative talent in the industry."

On the eOne Family side, Throop noted that Peppa Pig remains a key driver. "We believe Peppa Pig has the potential to be the most loved preschool property in the world and it is our ambition to achieve that goal over the coming years while building a balanced portfolio of complementary family brands."

Television production and sales revenues were down 7 percent to £46.1 million ($72.3 million), while family and licensing revenues more than doubled to £31.3 million ($49 million).