Entertainment industry tech group closing in on $100m revenue target

ZOO Digital Group, which provides cloud-based localisation and media services to the global entertainment industry, has hailed “outstanding profitable growth” in its financial results for the year ended 31 March 2022.

The Sheffield-based company made a reported pre-tax profit of $1.1m/£921,000 (FY21: loss of $3.6m/£3m). And revenue grew organically by 78% to $70.4m/£59m (FY21: $39.5m/£33m).

Adjusted EBITDA grew to $8.3m/£7m (FY21: $4.5/£3.8m).

The business adds it is making significant progress towards its medium term revenue target of $100m/£83.7m.

Stuart Green, CEO, said: “These results reflect an outstanding year of operational delivery and growth across the whole business.

“ZOO is taking market share in a growing market, benefiting from our cloud-based platforms, extensive freelancer network and embedded client relationships.

“The streaming market continues to evolve as media companies invest billions of dollars in content to capture and entertain international audiences.

“During the year, we introduced new services such as mastering and expanded our presence in some of the fastest-growing regions for our customers, particularly across Asia.

“These are strategic investments that strengthen our operations in some of the most exciting territories for content expansion and will support our ambitious growth plans.”

ZOO Digital saw its media services operations grow by 51% due to both catalogue content work and regional launches of streaming platforms.

In the same period its media localisation grew by 108% as demand for new production work rebounded strongly in H2, with dubbing revenue rising by more than 170%.

The company’s worldwide freelancer network grew by 20% to 11,028 (FY21: 9,207) positioning it for even higher volumes of work.

ZOO Digital expects the investments it has made in building multilingual dubbing capability and capacity will result in strong growth in FY23.

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