How the streaming revolution has transformed the fortunes of Sheffield-based ZOO Digital

By Greg Wright
Published 22nd Mar 2022, 07:19 BST
Updated 22nd Mar 2022, 07:20 BST
Sheffield-based ZOO Digital group today said its full year revenue and profits are expected to be materially ahead of expectations as its performance is boosted by the streaming revolution.

ZOO Digital Group, which is a provider of media services to the global entertainment industry, has provided an update on trading and the outlook for the financial year ending 31 March 2022.

ZOO said its revenues for the full year are now expected to be at least $65 million, an acceleration of organic growth over the prior year of at least 65% and ahead of previous management guidance of at least $57 million.

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The statement added: "Of this figure, the board estimates that approximately $10 million is attributed to regional launches of major streaming services that are one-off rather than repeating in nature. EBITDA (adjusted for share-based payments) is expected to increase by at least 44% from the prior year to at least $6.5 million."

Sheffield-based ZOO Digital group today said its full year revenue and profits are expected to be materially ahead of expectations as it performance is boosted by the streaming revolution.Sheffield-based ZOO Digital group today said its full year revenue and profits are expected to be materially ahead of expectations as it performance is boosted by the streaming revolution.
Sheffield-based ZOO Digital group today said its full year revenue and profits are expected to be materially ahead of expectations as it performance is boosted by the streaming revolution.
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"The group has continued to benefit not only from the strong international rollout of existing streaming services but also in increasing its market share through new service offerings and greater adoption by customers of ZOO’s dubbing service.

"The board and senior management have invested heavily in capacity and international footprint to support future growth and although future visibility is limited the board expects continued revenue growth in FY23 albeit at a lower rate than that expected in FY22.

"The group may be engaged by major media companies to work on further territory launches in future periods, the potential for which is currently uncertain, and will update the market on developments in July."

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Stuart Green, Chief Executive Officer of ZOO Digital, said: “We expect to report a year of outstanding growth, reflecting ZOO’s role at the heart of the ongoing streaming revolution. The adoption of streaming around the world and associated need for localised content is generating strong demand for the group’s services, not least as we support global media giants to prepare their content for launch in new territories.

"Looking ahead, we are ideally positioned with our scalable, cloud-based proposition to deliver continued strong growth as we take a greater share of an ever-expanding market.”