Zoo Digital reports a 29% revenue increase following last year’s Hollywood strikes.
- The company saw revenues rise to $27.6m, up from $21.4m.
- EBITDA profit reached $1.6m, a significant turnaround from a $7.1m loss.
- Operational costs reduced by $4.5m, alongside strategic international expansion.
- Zoo Digital’s focus on scalable technology and innovation supports future growth.
Sheffield’s Zoo Digital has announced a notable improvement in its financial performance, with a 29% surge in revenues as the effects of the prior year’s Hollywood strikes wane. The company’s total revenue climbed to $27.6 million, up from $21.4 million, showcasing a robust recovery.
Moreover, Zoo Digital achieved a significant financial turnaround, reporting an adjusted EBITDA profit of $1.6 million for the six months ending September 30, 2024. This marks a stark contrast to the $7.1 million loss recorded during the same period in 2023, indicating a strong recovery trajectory.
The company’s management took decisive measures to cut operational costs, slashing salary expenses by $4.5 million to reach $13.5 million. This move, along with the launch of Zoo Italy and fully operational centers in India, exemplifies their strategic efforts toward cost efficiency and international market expansion.
CEO Stuart Green emphasized the company’s commitment to aligning with evolving content strategies and exploiting emerging opportunities in new regions. He credited actions such as embracing artificial intelligence and relocating operations to India as pivotal to enhancing Zoo Digital’s agility and efficiency.
As the company shifts focus towards the upcoming year, investments in scalable technology and global talent acquisition are positioned to broaden their service offerings. Strengthened partnerships with prominent content creators and distributors further cement their status as a reliable entity within the media industry.
Zoo Digital remains dedicated to driving innovation and operational excellence in a digital-first world. The company’s strategic initiatives are expected to facilitate a return to cash breakeven as industry conditions improve.
Zoo Digital’s proactive strategies and financial resilience position it well for sustained growth as the entertainment industry stabilizes.
