Halifax, Canada-based indie producer and distributor DHX Media has doubled its third quarter earnings, despite lower revenues after benching the Yo Gabba Gabba! Live! tour.
DHX posted earnings for the three months to March 31 at US$1.65 million, up 98% from a year-earlier profit of US$831,000, even as overall revenues fell 7% to US$27 million, against a year-earlier US$28.6 million.
The revenue fall follows the indie producer choosing to revamp the Yo Gabba Gabba! Live! tour after putting it on hiatus.
At the same time, proprietary production revenue during the third quarter was up 42% to US$5.45 million, due in part to the acquisition of Cookie Jar Entertainment.
DHX Media also saw producer and service fee revenues rise 46% to US$5.2 million, while distribution revenues rose 42% to US$9 million as the company looks to drive increased digital revenues from its content library.
From Playback Online