ZOO Digital has turned its first profit after almost doubling revenue in the six months to 30th September.
The Sheffield-headquartered company, which is listed in London, provides localisation services to the entertainment industry. It serves major Hollywood studios and streaming services with tech-enabled subtitling and dubbing as well as mastering and digital packaging.
ZOO saw revenues increase by 91% to $51.4 million. Adjusted EBITDA more than doubled to $7.3m while it recorded its maiden H1 profit before tax of $3.5m, having made a loss of $1.5m in the prior year.
ZOO worked on many new global film & TV shows, which saw subtitling revenues double and dubbing revenues increase fourfold.
Media services were also up 39% due to a high volume of work preparing new titles for release on streaming platforms.
ZOO said streaming is continuing to globalise, with multi-language content required for new productions and back catalogues.
The company is now expanding capacity and increasing its footprint in key growth markets including India, South Korea, Turkey, the Middle East and Scandinavia.
“The fundamental drivers behind our growth remain as strong as ever as streaming continues to globalise and multi language content is required for both new productions, which are now back in full swing, and the migration of back catalogues,” said CEO Stuart Green.
“We have developed our offer to capture demand by investing in the expanding markets of India, South Korea, Turkey, UAE and Denmark, with others still to come.
“We see continuing evolution of the marketplace with demand across each of our service lines remaining buoyant. We are well positioned for long-term sustainable growth and as a result are confident of continued progress for the remainder of FY23 and beyond.”
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