Zoo Digital has reported significant financial recovery following last year’s Hollywood strikes.
- The company saw its revenue increase by 29%, reaching $27.6 million.
- EBITDA profitability returned, with an adjusted profit of $1.6 million after a previous loss.
- Operational costs were reduced, including a $4.5 million cut in salary expenses.
- Expansion efforts included establishing new operations in Milan and fully functional centres in India.
Zoo Digital, headquartered in Sheffield, has demonstrated resilience in the wake of last year’s Hollywood strikes, with financial figures from the first half of the year indicating a solid recovery. The company’s revenue rose by 29%, amounting to $27.6 million, in comparison to the $21.4 million from the previous year. Notably, this marks a return to EBITDA profitability, with adjusted profits reaching $1.6 million for the six months ending on 30 September 2024, contrasting with a $7.1 million loss during the same period in 2023.
In terms of operational efficiencies, Zoo Digital has significantly cut its salary expenses by $4.5 million, bringing it down to $13.5 million. This reduction in costs was accompanied by strategic expansions, such as the establishment of Zoo Italy through launching new operations in Milan. Additionally, the company’s production centres in India are now fully operational, contributing to their global footprint.
Chief Executive Stuart Green commented on the company’s strategic transformations, stating: “These results demonstrate that Zoo is recovering well from the impact of the Hollywood strikes and aligning with our customers’ evolving content strategies.” He highlighted efforts to enhance efficiency, noting the relocation of some operations to India and the adoption of innovative practices, including the use of Artificial Intelligence. Green emphasised the company’s focus on seizing new opportunities regionally, positioning Zoo Digital as a more agile entity.
Looking towards the future, Zoo Digital is investing in scalable technologies and global talent to broaden its service offerings. Its strengthened partnerships with leading content creators and distributors further affirm the company’s trusted position within the media and entertainment sector. Green expressed confidence in the company’s direction, stating, “We remain focused on driving innovation, operational excellence and efficiency in an evolving digital landscape.”
Zoo Digital’s strategic adjustments and global expansions signal a promising path towards sustained growth and industry leadership.
