ZOO sees revenues rise 42% after scoring all six major Hollywood studios

Subtitling specialists ZOO Digital have seen revenues rise 42% to $16.5m (£13m) after making efforts to diversify its client base.

The Sheffield-based company said it saw a large increase in revenue and client numbers, with dependency on its single largest client reduced to 44%.

ZOO said it now also includes all six of the major Hollywood studios and clients, and had seen growth in digital platforms for its captioning and subtitling services.

It made pre-tax profits in the year to March 2017 of $535,000, bettering the $1.5m loss it made the year before.

Stuart Green, CEO of ZOO Digital, commented: “ZOO made considerable progress with a strongly improved financial performance driven by the strength of our differentiated services enabled by our innovative cloud technology. The improvement experienced through the second half of the year has carried on into the new financial year and the current pipeline of work is considerably stronger than at the corresponding prior period.

“The Group has a more diverse client base and is becoming increasingly recognised as an innovative provider of vital solutions for an industry in which distribution channels and needs have been fundamentally transformed. With approved vendor status for a number of key digital platforms, ZOO is an obvious choice for content owners looking to maximise their reach.

“The Group has a stronger balance sheet and the increased funding that it has secured, along with an enlarged sales team, should enable it to take advantage of the market opportunity. With continuing momentum for the Group’s existing tools and a number of exciting new solutions to clients’ localisation and security needs, the board looks to the current year and beyond with confidence.”

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