Entertainment One interim revenues seen consistent with 2018

24th Sep 2019 08:34

(Sharecast News) - Media firm Entertainment One said on Tuesday that interim revenues were expected to be consistent with the previous year amid a "competitive" preschool merchandising market, while film, TV and music revenues were set to drop a little.
The company said Peppa Pig maintained momentum in core markets, with the brand's fifteenth anniversary providing the opportunity for a number of brand initiatives. Meanwhile, PJ Masks was fully rolled out across major global markets and remained a leading property in Canada and the US, where it was the second-largest preschool toy during the half.

Revenues across the film, television and music division were expected to be "slightly lower" year-on-year, it said, as strong growth in music, supported by ETO's recent Audio Network acquisition, was offset by a lower performance in film and television.

The weaker film and TV performance was largely due to variances in the timing and mix of deliveries compared to the previous year.

Entertainment One agreed to be bought by a subsidiary of US toy company Hasbro last month.

At 1015 BST, ETO shares were down 1% at 568p.