Strong pipeline for Sheffield firm which provides subtitles for Hollywood studios

ZOO Digital Group, which is a provider of cloud-based localisation and digital media services to the global entertainment industry, has announced its unaudited financial results for the six months ended September 30 2020.

The group said its subtitling services had been delivered to all the major Hollywood studios and COVID-19 has accelerated an industry shift to software-enabled services

Sheffield-based ZOO said its technology is becoming increasingly embedded into the operations of major studios and streaming services

·Revenues increased by 15 per cent to $16.4 million, driven by strong growth in the period for dubbing and digital packaging.

Gross profit reduced to $5.1 million from $5.8 million in the same period last year, which the company said was due to an increase in staff required to deliver growth in the second half of the year.

Stuart Green, CEO of ZOO Digital, said: "The first half of the year may well prove to be the most significant period in the group's history.

"The COVID-19 pandemic hastened the pace of adoption of our technology-based, media service offering and introduced us to new customers who have trialled and engaged ZOO's proposition and been impressed with the results.

"While original title production across the industry has been placed on hold, we have seen customers shift to back catalogue materials and the associated high levels of demand for digital packaging services, highlighting the benefits of our end-to-end vendor model.

"There remain significant volumes of back catalogue work, giving us confidence in our full year performance and we are very well placed to benefit greatly when content creation resumes. As a result, we have invested through this half year in order to take full advantage once conditions normalise.

"With a strong pipeline and continued momentum, the board remains confident in its ability to achieve the increased market consensus for the full year."

Mr Green said COVID-19 had been a catalyst which had accelerated the move to a more tech-enabled approach.

The company employs 265 staff, including 125 in Sheffield. An additional 35 staff were hired in Sheffield over the year to the end of September.

Mr Green said the company was still hiring, adding: "There is a ready supply of highly trained talent in Sheffield."

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