Former eOne executive Nick Gawne hired as new chief financial officer
TORONTO – Kids’ and family entertainment company WildBrain announced Tuesday changes to its senior management team and a streamlined business structure designed to drive the growth of key WildBrain and partner franchises across its core focus areas of content creation, audience engagement and global licensing.
The senior leadership changes include the hiring of former eOne executive Nick Gawne, who joins WildBrain as chief financial officer, effective Wednesday. Gawne worked for almost 15 years at eOne, most recently as executive vice-president and general manager, a position he held for three years following the acquisition of eOne by Hasbro. In that role, he oversaw international teams in finance, HR and communications as well as three operating units across location-based entertainment, app publishing and animation, according to a WildBrain press release announcing his appointment as its CFO.
Prior to Hasbro’s acquisition of eOne, Gawne was eOne’s chief operating officer, family and brands, working on production, content distribution and licensing for such franchises as Peppa Pig and PJ Masks. He was also responsible for revenue streams for digital, online and gaming, location-based entertainment and music. Before that, Gawne held several senior finance and business development roles in eOne’s UK business, including UK film distribution and international home video distribution.
Based in Toronto, Gawne reports to WildBrain’s president and CEO, Josh Scherba. He is succeeding Aaron Ames, who will continue in an advisory capacity to ensure a seamless tradition, the press release says.
“I’m delighted to be joining the WildBrain team, as I’ve long admired the company’s capabilities and IP portfolio,” Gawne said in a statement. “I look forward to working with Josh as well as the senior management and finance teams across the global organization to help accelerate the growth of our brands and business and to drive value for shareholders.”
WildBrain’s realignment of its senior management team and business is designed “to focus on fully unlocking the significant growth potential for key proprietary brands, including Peanuts, Teletubbies and Strawberry Shortcake, as well as key partner brands,” the release says.
“In the evolving landscape of kids’ and family entertainment, WildBrain is in a position of leadership as the only independent company with a comprehensive, 360-degree suite of in-house expertise across Content Creation, Audience Engagement and Global Licensing,” Scherba said in the release. “As we continue our strategic shift to focus our business on key franchises that can generate the greatest returns from these integrated capabilities, Nick’s deep experience in finance and operations for kids’ IP is an ideal fit for WildBrain.
“I’d like to also thank Aaron for his leadership, dedication and years of service to WildBrain,” Scherba added. “Aaron has been a great business partner and a passionate champion of our Company. His contributions have been invaluable in shaping our strategic path forward and repositioning WildBrain for continued growth. We look forward to continuing to benefit from his expertise and knowledge as an advisor as we move through Fiscal 2024.”
WildBrain’s new content creation group integrates all of the company’s development and production capabilities, including its Vancouver animation studio, its London-based digital studio (formerly known as the WildBrain Spark digital studio) and its Toronto animation pre-production business House of Cool.
WildBrain’s chief content officer Stephanie Betts has been appointed executive vice-president of content creation, overseeing creative teams behind WildBrain’s content in an expanded role that builds on her leadership of the company’s development and production business. WildBrain’s digital studio in London will now report to Betts, who is based in Toronto and reports to Scherba.
Kate Smith has been appointed executive vice-president of audience engagement, a group that now integrates WildBrain’s global distribution business, its YouTube network (formerly known as WildBrain Spark), its digital marketing expertise and its digital advertising business.
Reporting to Scherba but based in London, Smith will oversee all aspects of WildBrain’s content distribution, YouTube network operations and digital marketing. Smith previously served for eight years as a key member of the management team behind WildBrain’s YouTube business, spearheading its activities across marketing, research and insights, according to the release.
WildBrain’s Canadian TV business, which includes its Family, Family Jr., Télémagino and WildBrain TV (formerly Family CHRGD) channels, will continue to operate as a separate business unit reporting to Scherba, the release notes.
WildBrain’s new global licensing group includes the activities of the company’s licensing agency WildBrain CPLG, its franchise management activities for key owned brands, including Teletubbies and Strawberry Shortcake, management of key third-party IP partnerships, and its interest in the Peanuts brand, operated by the Peanuts Worldwide subsidiary.
Maarten Weck has been appointed executive vice-president of global partnerships and licensing, overseeing key global IP partnerships with third-party partners across WildBrain’s entire ecosystem, while continuing to oversee all activities of WildBrain CPLG.
Tim Erickson continues to oversee the Peanuts Worldwide business as its executive vice-president of brand. Both Weck and Erickson continue to report to Scherba.
WildBrain also announced its chief operating officer, Deirdre Brennan, has left the company to pursue other opportunities. WildBrain said in a statement it wanted to thank Brennan “for her years of devoted and passionate service to the Company and for the leadership expertise she has provided, especially in our television, distribution and YouTube businesses.”
“On behalf of the management team and employees, I would like to thank Deirdre for her many positive contributions during her time at WildBrain,” Scherba added. “Deirdre is a leading light in our industry, and I wish her all the best in the next chapter of her career.”
WildBrain also reported Tuesday its first-quarter 2024 financial results for the three months that ended Sept. 30. Overall revenue in the quarter decreased 17 per cent to $105.5 million, compared to $126.7 million in the first quarter of 2023.
The company reported a net loss of $15.5 million in Q1 2024, compared with a net loss of $7.6 million in Q1 2023. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) decreased 5 per cent to $18.9 million, compared with $19.9 million in the same quarter of last year.
Cash used in WildBrain’s operating activities in the first quarter of 2024 was $3 million, compared to $23.3 million used in operating activities in the prior year period. The company’s free cash flow was negative $25.4 million in Q1 2024, compared to negative $8.9 million in Q1 2023.
Photo montage of (clockwise from top left) Nick Gawne, Stephanie Betts, Maarten Weck and Kate Smith provided by WildBrain.
