Revenues rise at media localisation specialist as trading environment improves
Sheffield-headquartered Zoo Digital Group has seen its revenues rise 29% to $27.6m/£21.6m (H1 FY24: $21.4m/£16.7m) in its interim results for the six months ending 30 September 2024.
The business, which offers cloud-based localisation and media services to the global entertainment industry, also reports a pre-tax loss of $2.7m/£2.1m (H1 FY24: $10.1m/£7.9m), while adjusted EBITDA returned to a profit of $1.6m/£1.2m (H1 FY24: EBITDA loss of $7.1m/£5.5m).
Stuart Green, CEO, said: “These results demonstrate ZOO is recovering well from the impact of the Hollywood strikes and aligning with our customers’ evolving content strategies.
“Taking action to deliver efficiencies, including relocating some operations to India; embracing innovations such as Artificial Intelligence; and the pursuit of opportunities in new regions, have seen ZOO become a more agile and efficient business, ready for the next chapter of our growth story.
“As we approach a new year, investments in scalable technology and global talent have enabled us to expand our service offerings, and partnerships with leading content creators and distributors have strengthened, underscoring our position as a trusted partner in the media and entertainment industry.
“We remain focused on driving innovation, operational excellence and efficiency in an evolving digital landscape which should position ZOO well to return to cash breakeven as our industry recovers.”
The company says it has streamlined its business while protecting production capability to ensure it can ramp up with recovering demand.
Zoo Digital’s salary costs have reduced by $4.5m/£3.5m to $13.5m/£10.5m (H1 FY24 $18m/£14m).
During the same period, the firm established ZOO Italy, with the launch of operations in Milan.
