VANCOUVER — Thunderbird Entertainment Group today reported its year-end revenue for fiscal 2021 was $111.5 million, a 37% increase over its full-year 2020 revenue.
The majority of this increase was due to growth in production services projects, according to a press release.
For the year ended June 30, 2021, the company’s adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $19.6 million, a 26% increase from fiscal 2020 and the company’s free cash flow was $12.3 million for fiscal 2021, a 68% increase compared to 2020.
Thunderbird reported net income from continuing operations was $5.7 million for the full 2021 fiscal year, up from $4.1 million in the previous year.
“We are extremely proud of our accomplishments during the last 12 months and look forward to continuing our path to becoming a major global production company,” said Thunderbird president and CEO Jennifer Twiner McCarron, in the press release.
“Not only do our fiscal 2021 results reflect our talented teams, trusted partnerships, and commitments and contributions to building global brands, they also validate the strategic decisions made regarding content development and demonstrate the early dividends from the long-term growth initiatives we have put in place. We are continuing to build for our future, mapping out clear pathways and new initiatives that will be instrumental in Thunderbird’s continued growth,” Twiner McCarron said.
As of June 30, 2021, Thunderbird had 18 programs in various stages of production, with eight of these projects being company intellectual property or partner-managed, according to the press release. Since its fiscal year-end, Thunderbird has announced nine more shows are in production.
During the company’s fourth quarter of 2021, its kids and family division Atomic Cartoons was in production on 11 animated TV series and two animated feature-length films. Its factual and scripted division Great Pacific Media (GPM) was in production on five TV series.
In addition, during Q4, GPM received renewals of three series for Discovery Canada and also confirmed three new projects in development were ordered to series by Corus Entertainment.
For more on Thunderbird’s fiscal 2021 results and corporate highlights, please click here.
