VANCOUVER – WOW Unlimited Media finished the third quarter of 2019 with revenue of $23.3 million, a 32% increase over the third quarter of 2018.
The company’s animation production segment revenue was $10 million for the three months ended September 30, 2019 and the company says its production pipeline continues is strong, with an animation production backlog of $64.7 million
WOW plans to expand its majority-owned Frederator Books digital publishing business, which is aimed at preschool to middle-school age children and features an array of titles from its stable of children’s characters and franchises led by Catbug, Lucy the Dinosaur and Wow! Wow! Wubbzy. The company plans to more than double its library over the next year, which currently consists of nearly 50 titles.
Operating EBITDA for the three months ended September 30, 2019 was $800,000. While the company had previously issued guidance for the year indicating revenues in excess of $85 million and operating EBITDA between $2.4-$3.4 million, it revised its guidance to revenues in excess of $90 million and operating EBITDA in excess of $600,000.
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