REG - Zoo Digital Group - Trading Update

Zoo DigitalAnnouncement

04/05/2020 07:01

RNS Number : 7257L
  
Zoo Digital Group PLC
  
04 May 2020
  
 

4 May 2020
ZOO DIGITAL GROUP PLC
("ZOO", the "Group" or the "Company")
 
Trading Update
 
ZOO Digital Group plc, a world-leading provider of cloud-based localisation and digital distribution services to the global entertainment industry, today provides a further update with regards to its trading for the financial year ended 31 March 2020.
The Group reiterates guidance given in its update of 23 March 2020 with revenue expected to be approximately $30m and EBITDA of not less than $2.2m. Cash collection has been much stronger than forecast and cash at the year-end was $0.7m.
Trading in the first weeks of the 2021 financial year has been encouraging and we have built a pipeline of new business. Following the temporary softening of sales experienced as customers implemented business continuity plans and halted production on new originals titles, as outlined on 23 March 2020, the Group has since experienced a reassuring resumption in demand.
This resumption is underpinned by the continued industry requirement for localisation and digital packaging, particularly in relation to back catalogues. The majority of the localisation orders to date have been for subtitling, but we are seeing increasing demand for ZOOdubs, the cloud-based platform that enables traditional dubbing services including voiceover, lip-sync and audio description. Through the use of ZOOdubs dubbing projects can continue during periods of lockdown. As a result, a number of initial trial projects from a range of clients, both existing and new, are underway.
Stuart Green, Chief Executive, of ZOO Digital said:
"Our proprietary cloud-based solutions have been designed from the outset to enhance the efficiency of collaboration as the film and TV entertainment industry has become increasingly globalised. The current environment has encouraged industry change and the investments made in prior periods to scale our business mean we are well placed to meet our customers' needs."
 
The information communicated in this announcement includes inside information for the purposes of Article 7 Regulation 596/2014.
 
For further enquiries please contact:
 






ZOO Digital Group plc


+44 (0) 114 241 3700




Stuart Green - Chief Executive Officer


  




Phillip Blundell - Chief Finance Officer
 


  














Stifel Nicolaus Europe Limited
Fred Walsh 
 


+44 (0) 20 7710 7600














Alma PR 
Josh Royston / Helena Bogle


+44 (0) 7780 901979









































 
About ZOO Digital Group plc:
ZOO Digital is a provider of services allowing TV and movie content to be subtitled and dubbed in any language and prepared for sale with all major online retailers. ZOO's clients are some of the best-known brands in the world including major Hollywood studios, global broadcasters and independent distributors.
 
ZOO's point of difference in the marketplace is its development and use of innovative cloud technology. This ensures that content is localised in any language and delivered to all the major online platforms such as Amazon, iTunes, Google and Hulu with reduced time to market, higher quality and lower costs. ZOO's agile, cloud-based business model enables clients to respond to market trends, scale easily with business growth and capitalise on new routes to market in the fast moving and evolving digital industry.
 
ZOO operates from the entertainment hubs of Los Angeles and London with a development and production centre in Sheffield. Its full-service proposition includes digital distribution, subtitling & captioning, metadata creation & localisation, dubbing, artwork localisation, workflow and asset management.  
 
www.zoodigital.com


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