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Zinc Media secures ?4.3m of new TV contracts
10th Dec 2019 08:40
(Sharecast News) - TV and multimedia content producer Zinc Media has secured £4.3m of new TV commissions across its portfolio over the last three months.
Zinc Media said on Tuesday that London-based factual producer Blakeway had won a large international production with the US-based Smithsonian Channel, marking an "important step" in diversifying its client base.
Elsewhere, Reef TV continued its recovery with additional programmes as part of its Police Code Zero series for Channel 5, while Glasgow-based Tern TV extended its strong performance with repeat commissions of Children's Hospital.
The AIM-listed firm expects the new commissions to deliver improved margins more in-line with industry standards.
Chief executive Mark Browning said: "It's good to see the bulk of our TV labels booking steady revenues but more importantly I am pleased to see that new commissions are now anticipated to deliver improved margins which are more in-line with industry norms.
"Improving gross margins on TV commissions in London and Manchester is the first priority in our transformation plan and early signs show demonstrable progress, which is critical for our longer term profitability."
As of 0840 GMT, Zinc shares had climbed 7.92% to 0.29p.
Zinc Media said on Tuesday that London-based factual producer Blakeway had won a large international production with the US-based Smithsonian Channel, marking an "important step" in diversifying its client base.
Elsewhere, Reef TV continued its recovery with additional programmes as part of its Police Code Zero series for Channel 5, while Glasgow-based Tern TV extended its strong performance with repeat commissions of Children's Hospital.
The AIM-listed firm expects the new commissions to deliver improved margins more in-line with industry standards.
Chief executive Mark Browning said: "It's good to see the bulk of our TV labels booking steady revenues but more importantly I am pleased to see that new commissions are now anticipated to deliver improved margins which are more in-line with industry norms.
"Improving gross margins on TV commissions in London and Manchester is the first priority in our transformation plan and early signs show demonstrable progress, which is critical for our longer term profitability."
As of 0840 GMT, Zinc shares had climbed 7.92% to 0.29p.