Booming Sheffield digital dubbing company ups sales forecast to $39m

ZOO Digital now expects full-year revenue to be up 33 per cent year-on-year at $39.5m. It is an increase on last month when it was predicting $38m.

The firm had revenue of $29.8m the year previous. Its success has prompted the board to state it is ‘confident of achieving its mid-term ambition of $100 million in sales’.

The company is also predicting Ebitda - a measure or profits - to double to $4.5m in this year’s results.

CEO Stuart Green said: "We have delivered a strong second half performance as streaming services seek to grow their customer bases internationally and on a global scale.

“We have invested ahead of events and are building out our international footprint to service globalising customers. Looking ahead, we expect new title production to resume and back catalogue migration to continue. Q1 of our new financial year has begun well."

ZOO dubs and subtitles films into 80 languages. But unlike rivals based in studios shuttered by the pandemic, its cloud-based tech can be used anywhere.

Last month, the company raised £7.4m from a share placing to spend on hiring staff, establishing regional hubs in India and South East Asia and expanding international business.

It comes after a year which has seen the firm benefit from film and television companies making their back catalogues available for streaming. Demand has soared due to stay-at-home orders.

Bosses expect further growth when the production of new shows resumes in earnest.

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Thank you. Nancy Fielder, editor.