TIDMETO
RNS Number : 2709L
Entertainment One Ltd
30 September 2016
Date: 30 September 2016
On behalf Entertainment One Ltd. ('the Company',
of: or 'the Group', or 'eOne')
Embargoed 0700hrs
until:
Entertainment One Ltd.
Trading Update
Entertainment One Ltd. provides the following trading update on
the Group's performance as it completes the six month period ended
30 September 2016.
Summary
-- Operating performance to-date on track across all Divisions,
with a strong committed film and television slate underpinning the
second half of the financial year
-- The Group anticipates full year financial performance will be
in line with management expectations
-- Independent library valuation increased to US$1.5 billion (2015: US$1 billion)
Operating Performance
Television
eOne Television is on track to grow the business with the
production/acquisition of around 1,100 half hours of content in the
full year. In Production, new commissions include serialised crime
drama Cardinal and hostage show Ransom, whilst both Private Eyes
and You Me Her have been re-ordered for second seasons. A strong
second half pipeline includes new shows Mary Kills People and Ice
and renewals Rogue 4 and Saving Hope 5. The non-scripted business
is already benefiting from Renegade 83's new season of Naked and
Afraid and has a strong pipeline in the second half. The
International Sales business is on track for a record year with new
seasons of Fear The Walking Dead, Halt and Catch Fire and Turn as
well as a growing number of deals and buyers for eOne-produced
shows. The second half will also include sales of newly
commissioned comedy Foreign Bodies.
The Mark Gordon Company has started delivery of Designated
Survivor, the first series under its new independent studio model.
The show premiered as ABC's strongest scripted telecast in its time
slot in four years securing 45% more viewers than its closest time
slot competitor, and totalled over 15 million viewers for its
Live+3 ratings (Adults 18-49)[1]. International sales for the show,
which are handled by eOne, have been very strong and a worldwide
streaming rights deal excluding North America has recently been
announced with Netflix. Production is also under way on Conviction,
distributed internationally by eOne, and the show premieres on ABC
on 3 October 2016.
In addition, The Mark Gordon Company currently has five
additional renewed series airing on both US network and premium
cable, including Grey's Anatomy, Criminal Minds, Criminal Minds:
Beyond Borders, Quantico and Ray Donovan. The Mark Gordon Company
has commenced principal photography on The Nutcracker and the Four
Realms for Disney and is in pre-production on Molly's Game, written
and to be directed by Aaron Sorkin and starring Jessica Chastain
and Idris Elba. Molly's Game is being distributed internationally
by eOne and in the US by STX Entertainment.
Family
The Family Division has seen growth for Peppa Pig progress in
line with management plans as the brand continues to roll out in
international territories. In the US, the Division has seen even
stronger than expected demand for Peppa Pig merchandise across a
number of product categories. In China, the show has now surpassed
6 billion views on local on-demand platforms iQIYI, Youku and Tudou
since launching in October 2015 and it is also one of the most
popular programmes for pre-schoolers on state television
broadcaster CCTV. Major Chinese online retailers, Jing Dong and
Tmall, have launched a wide range of Peppa Pig merchandise on their
popular online shopping sites and merchandise is also available at
Toys "R" Us stores nationwide. Delivery of the new series of Peppa
Pig has commenced with a total of 52 new episodes being delivered
between now and late 2017. The first new episode airs in the autumn
in the UK and the US.
PJ Masks continues to deliver strong audience figures in the US
and in a number of international territories including the UK,
France, Italy, Spain and Australia. The first series will continue
to roll out on Disney Junior channels around the world throughout
2016 and 2017, and a second series has been greenlit for delivery
from autumn 2018. The US merchandising programme will launch in
October 2016 with product exclusively available at Toys "R" Us,
then moving to further retailers in early 2017.
Film
The Film Division has released a series of higher profile titles
in the first half delivering increased period-on-period box office
totals of US$151 million to-date (2015: US$97 million). The Group
expects to release 85 theatrical titles in the first half (2015: 96
releases).
Significant releases in the period included The BFG, which
grossed GBP30 million at the UK box office, Now You See Me 2, Bad
Moms and Woody Allen's Café Society. The slate for the second half
includes The Girl on the Train, based on the best-selling novel,
which opens in the UK and several other territories in the first
week of October, Office Christmas Party, the third title from our
partnership with Amblin Partners, and Lion, A Monster Calls and La
La Land, which all premiered to wide acclaim at the Toronto
International Film Festival, with La La Land going on to win the
top prize at the festival, the People's Choice Award.
Management continues to focus on delivering cost efficiency
opportunities to improve profitability in the Film Division and is
on track to deliver its annual GBP10 million cost saving target
from FY18.
Outlook
The outlook for underlying financial performance for the full
year continues to be in line with management expectations.
Corporate
The Group's annual independent library valuation has been
completed, including all of eOne's television, family, film and
music assets. As at 31 March 2016 the overall value of the Group's
content library had increased to US$1.5 billion (2015: US$1
billion) primarily driven by strong performance from the Group's
Family properties and the acquisition of an additional 35% interest
in Peppa Pig.
During the period, following its initial investment in 2014, the
Group completed the purchase of the remaining 50% stake in leading
digital studio Secret Location, which results in full ongoing
ownership by the Group.
The Company's Annual General and Special Meeting takes place at
the Company's Toronto offices at 10:30am EST/3:30pm BST today.
Results for the six months ended 30 September 2016 will be
announced on 22 November 2016.
Enquiries:
Redleaf Communications Rebecca Sanders-Hewett +44(0)20 7382
Sarah Fabietti-Dallison 4730
Susie Hudson eOne@redleafpr.com
Entertainment Giles Willits +44(0)20 3714
One Ltd. Patrick Yau 7931
Notes to Editors:
Entertainment One Ltd. (LSE:ETO) is a global independent studio
that specialises in the development, acquisition, production,
financing, distribution and sales of entertainment content. The
Company's diversified expertise spans across film, television and
music production and sales, family programming, merchandising and
licensing, and digital content. Through its global reach and
expansive scale, powered by deep local market knowledge, the
Company delivers the best content to the world.
Entertainment One's robust network includes film and television
studio The Mark Gordon Company; content creation venture Amblin
Partners with Steven Spielberg, DreamWorks Studios, Participant
Media, and Reliance Entertainment; leading feature film production
and global sales company Sierra Pictures; unscripted television
production companies Renegade 83, Paperny Entertainment and Force
Four Entertainment; world-class music labels Dualtone Music Group
and Last Gang; and award-winning digital agency Secret
Location.
The Company's rights library is exploited across all media
formats and includes more than 100,000 hours of film and television
content and approximately 40,000 music tracks.
www.entertainmentone.com
[1] Live+3 ratings (Adults 18-49) viewership measures live
viewing plus digital video recorder playback viewing up to three
days later for adults between the ages of 18 and 49.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUKOKRNUAKUAR
(END) Dow Jones Newswires
September 30, 2016 02:01 ET (06:01 GMT)
Entertainment One (LSE:ETO)
Historical Stock Chart
From Apr 2024 to May 2024
Entertainment One (LSE:ETO)
Historical Stock Chart
From May 2023 to May 2024