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DHX Media upbeat about digital distribution revenues

Canada's DHX Media was upbeat yesterday about digital distribution, even as its proprietary production and work-for-hire revenues were down in its latest financial quarter.
February 14, 2013

Canada’s DHX Media was upbeat yesterday about digital distribution, even as its proprietary production and work-for-hire revenues were down in its latest financial quarter.

Michael Donovan, CEO of the production and distribution house, told analysts during a conference call that Netflix, Amazon and other emerging digital platforms looking to build their subscriber bases are making subscription video-on-demand (SVOD) deals for DHX Media’s expanded programming library after the acquisition of Cookie Jar Entertainment this past October.

“Streaming VOD (SVOD) is offering new ways for consumers to access our large library of family and childrens’ titles,” he said

In results for the three months to Dec. 31, 2012, DHX indicated its distribution revenue was up sharply to US$9.2 million, against US$1.8 million in the same period of 2011.

That gain was offset by proprietary production revenue, which dropped to US$3.66 million, against a year-earlier US$4.9 million, and producer and service fee revenues falling to US$5.82 million, compared to US$9.84 million in the same period of fiscal 2012.

DHX Media has recently signed an SVOD deal with Amazon’s European digital media subsidiary LOVEFiLM, Tesco-owned blinkbox, Dailymotion and Wananchi.

Despite overall revenue rising 7% to US$26.3 million, DHX Media posted Q2 earnings of US$287,000, down sharply from a profit of US$1.83 million in the second quarter of fiscal 2012.

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