First-quarter revenues at DHX Media rose by 5.5 percent to C$104 million ($78.6 million), but the company recorded a net loss of C$2.4 million ($1.8 million) compared with the year-ago profit of C$8.1 million ($6.1 million).
“We are pleased with the progress we are making to solidify our operations, upgrade our management team and reduce our leverage,” said Michael Donovan, executive chair and CEO. “We are making the necessary investments for sustainable organic growth. While it is still early days, our pipeline of business on the content and consumer products side is starting to build, laying the foundation for improving results in the quarters and years ahead.”
Donovan continued, “Peanuts continued to perform ahead of plan, contributing to 12 percent growth in our consumer products-owned business from a year ago. WildBrain also delivered another excellent quarter, with strong double-digit growth in revenues and minutes watched. In the last three months, one-third of the approximately 830 million children globally with access to YouTube tuned into our WildBrain network. We believe this growing scale and the quality of experience we offer will cement our position as the go-to platform in the AVOD space for children, content owners and advertisers. We are just beginning to scratch the surface of this unique and strategic asset.”