WildBrain (formerly DHX Media) touted double-digit growth in its AVOD business, with revenue increasing 8% to US$84.6 million for Q1 2020.
In the three months ended September 30, WildBrain Spark—the company’s AVOD business unit—reportedly clocked more than 12 billion views. The 66% year-over-year viewership increase pushed revenue up by 37% to US$16.6 million. Total watch time also climbed by 43% to 56 billion minutes for the quarter.
Adjusted EBITDA rose 2.3% to US$14.7 million in the first quarter. Net loss for the period was US$12 million (compared with US$1.81 million the prior year in Q1 2019), which WildBrain attributed to one-time reorganization charges and a non-cash foreign exchange loss.
During Q1 2020, WildBrain delivered 12 episodes of Snoopy in Space, its first original Peanuts content for Apple TV+. The series, as well as Apple TV+, launched in numerous international markets at the start of the month.
On the distribution side, new partnerships drove significant growth for the company. Distribution revenue (excluding WildBrain Spark) climbed 78% to US$11.7 million. The Halifax-headquartered company attributed the uptick to a large library deal inked with CBS All Access. Under the agreement, CBS All Access acquired the US streaming rights to series including Inspector Gadget, The Adventures of Paddington Bear, Madeline and Heathcliff.
DHX Media rebranded to WildBrain and reorganized its management and business structure in September. COO Aaron Ames was appointed CFO, succeeding Doug Lamb, and it was announced the COO position would not be replaced. WildBrain is actively searching for a brand director to launch new IPs and manage existing brands.
Copied from Playback, with files from Elizabeth Foster