DHX Media Reports Q3 Loss

DHX Media saw a net loss of C$18.4 million in Q3, compared to a net loss of C$8 million in the same quarter last year, as it took a one-time charge.

The higher net loss was primarily due to a C$34.2 million combined write-down in Q3 related to investment in film, licensed television programs, acquired content and intangible assets.

Third-quarter revenue was C$110 million, compared with C$116.5 million in the prior-year quarter.

Distribution revenue (excluding WildBrain) was C$20.7 million, versus the $26.6 million reported in Q3 2018. WildBrain continued to grow its audience, with views rising 15 percent to over 8.7 billion in the third quarter. Revenue grew 4 percent to C$14.9 million.

Michael Donovan, CEO and executive chairman, stated: “When I stepped back into the role of CEO a year ago I had several priorities. These included: building our premium content strategy; repositioning our assets to align with current market opportunities; expanding WildBrain, our industry-leading children’s AVOD network; reducing debt; and finding my successor. We have made significant progress on all these fronts. Once the new CEO is appointed I look forward to continuing on as executive chair.”