HALIFAX – Kids and family entertainment company WildBrain yesterday announced its third quarter 2022 financial results, showing revenue was $129.5 million – a 27% increase compared to the same quarter in 2021.
Adjusted EBITDA for the three months ended March 31, 2022, was reported to be $30.2 million, an increase of 75% from Q3 2021.
“In Q3 2022, we delivered a strong quarter, reflecting growth across all our content-driven businesses,” said Aaron Ames, WildBrain CFO, in a press release.
“We’re aggregating margin across our studio, distribution and licensing sectors, which is responsible for another quarter of EBITDA growth. We’re delighted with our team’s early execution on deals which were expected later in the year.”
WildBrain reported revenue from content production and distribution increased 61% to $57.4 million while consumer products revenue and WildBrain Spark revenue each increased 11% to $50.9 million and $10.7 million respectively.
Content production and distribution revenue benefitted “from the Degrassi library deal, distribution agreements with Amazon Prime and BBC and a pipeline of premium productions including Sonic Prime and a range of new Peanuts content,” the press release explains.
Growth in consumer products revenue reflects “the strength of the Peanuts franchise, supported by consistent output of new content and the synergies of our vertically integrated licensing business,” while growth in revenue at WildBrain Spark reflects “stable advertising revenue and growth in other revenue streams from direct-ad sales, paid media and digital production,” says the release.
“Our third-quarter results reflect the success of our 360-degree IP strategy, which is now driving momentum across multiple earnings streams,” said Eric Ellenbogen, WildBrain CEO.
“We’re seeing the returns from investments in our branded IP library, premium productions and consumer products. We have a robust creative pipeline – that we’re constantly adding to – assuring years of opportunities and upside.”
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