The company reported revenue of $39.5m for the year ended 31 March 2021, up from $29.8m in 2019/20. The company said increased workflow from preparing back catalog titles led to a significant increase in demand for media services, which more than compensated for a drop-off in new productions
CEO Stuart Green (@stuart_green) said, “Zoo performed strongly during the year with revenues growing by a third to $39.5m and making good progress towards our ambitious goal of $100m of sales. Adjusted EBITDA more than doubled to $4.5m.
“In a year when the world stayed at home and watched more TV, Zoo worked from home to deliver more content, to more audiences than ever before. We support major Hollywood studios and streaming services to globalize their new and catalog content in all languages. The industry in which we operate is huge and is undergoing a structural shift that has markedly accelerated over the past 12 months. Zoo is positioned well to continue to benefit from the unrelenting rise in streaming video.
“Looking forward, we continue to win new business as production of new titles is now resuming and significant orders for catalog projects continue. Our new financial year has begun well, maintaining the momentum achieved last year, and we remain confident of continuing growth and achieving market expectations.”
Zoo Digital Group says it expects to deliver more growth in the first half of 2022. Following a fundraiser in April, Zoo Digital is also looking into establishing regional hubs for delivering media services in the Middle East, India, and Southeast Asia.