Zoo Digital Group PLC AGM Statement (6873M)
18 Settembre 2019 - 8:01AM
UK Regulatory
TIDMZOO
RNS Number : 6873M
Zoo Digital Group PLC
18 September 2019
ZOO DIGITAL GROUP PLC
("ZOO", the "Group" or the "Company")
AGM Statement
ZOO Digital Group plc (AIM:ZOO), the provider of cloud-based
localisation and digital distribution services for the global
entertainment industry, will hold its Annual General Meeting (AGM)
at 4.00pm today. At the meeting, Gillian Wilmot, Chairman, will
make the following statement:
"This is my first AGM as chairman of ZOO and I am pleased to
provide a positive update as we approach the end of the first half
of our financial year. Our vision is to be a leading
next-generation media localisation business that offers a unique
combination of software and customer service to the film and TV
industry's leading players, and I believe we are making good
progress.
"We anticipate revenue for the first half to be in line with our
expectations and remain confident in our full year expectations.
The on-going changes in our industry have affected our sales mix,
with a positive impact on margins in this half, and so we
anticipate adjusted EBITDA for this period to be ahead of our
expectations with revenues broadly in line with the same period in
the previous year.
"This result is against a backdrop of considerable industry
change, which remains characterised by ongoing and well-publicised
transformation across the supply chain. Many major industry
participants have been progressing plans for streaming video
services, other participants have not yet settled internal
reorganisations and there has been notable M&A activity. These
were factors in the softening of our localisation sales that we
reported in the second half of the prior year and which continued
into the first months of the current period.
"Since August ZOO has been operating as a de facto preferred
vendor for a major content producer to support the launch of its
direct-to-consumer streaming video-on-demand service, and whilst
longer-term contractual arrangements have not yet been finalised, a
significant number of revenue-generating projects for this client
are already underway with visibility extending throughout our
second half. With both new original content and back catalogue
titles needing to be digitally packaged and localised for multiple
territories to support this new service, this is providing us with
a significant pipeline of work. We also continue to be in dialogue
with a number of large media companies regarding their selection of
preferred vendors for localisation and digital packaging
services.
"The decline in demand for traditional DVD and Blu-ray digital
packaging work has accelerated further. It is however pleasing that
the lost revenues from this service line have been matched by
strong growth in demand for equivalent services for contemporary
Over-the-Top ("OTT") streaming video platforms, and we expect this
demand to continue.
"The market continues to expand through the launch of a number
of new direct-to-consumer services over the next 12 months, the
growth in production of original programming and the enlarged
number of languages into which content is being localised. We
expect that these factors will contribute to further growth in both
our localisation and OTT digital packaging segments.
"I am confident that recent commercial developments and our
enhanced technological proposition leave us well positioned for
long term growth."
Presentation slides that will accompany an investor update
following the AGM will be available on the Company's website later
today.
The Company intends to announce its interim financial results
for the six months to 30 September 2019 on 4 November 2019.
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
For further enquiries please contact:
ZOO Digital Group plc 0114 241 3700
Stuart Green - Chief Executive Officer
Phillip Blundell - Chief Finance Officer
finnCap Ltd
Henrik Persson / Kate Bannatyne (corporate
finance)
Camille Gochez / Andrew Burdis (corporate
broking) 020 7220 0500
Alma PR
Josh Royston / Hilary Buchanan / Helena
Bogle 020 3405 0205
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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END
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