Subtitle provider Zoo Digital set to deliver double-digit revenue growth

The Sheffield-based firm, which provides subtitles for Hollywood film studios, said it sees its performance as a strong endorsement of its business model.

Gillian Wilmot, chairman of Zoo Digital, said: “I am excited to provide a positive update as we approach the end of the first half of our financial year. With its unique technology and service proposition, ZOO has been able to adapt seamlessly to the current needs of our customers through the Company’s end-to-end vendor model.

"We expect to deliver double-digit revenue growth in the six-month period to 30 September 2020 compared to the same period last year.

"This is against an industry backdrop in which the suspension of new productions is approaching six months, resulting in a significant reduction in work for all businesses associated with TV and film production, post-production and media localisation. We see this performance as a strong endorsement of our business model."

She added that the firm's ability to offer remote dubbing through its cloud-based solutions has won new clients and has renewed and deepened commercial ties with existing customers.

Ms Wilmot said: "This will result in significant H1 growth year-on-year in our dubbing sales, despite the impact of Covid-19 on the production of new titles.

"It is safe to say that the pandemic continues to have a negative effect on our customers and their traditional suppliers. It has also affected the rate of growth that we anticipated in the period for both our subtitling and dubbing revenues and we expect the uncertainty to continue into the calendar year 2021.

"However, this has not affected our ability to attract new customers for these services which we expect will deliver substantial revenue growth to ZOO in the long-term.

“We also noted that our leading proposition in digital packaging has enabled streaming services to add rapidly back-catalogue programming to their platforms.

"Digital packaging has also been a major growth area for us during the period as streaming service providers prioritise back-catalogue projects, given the significant obstacles in new content production.

“This trend has continued and, looking forward, the demand for our digital packaging solutions continues to grow rapidly, with orders for delivery in Q3 significantly ahead of any other quarter in our history.

"With our market-leading end-to-end solution we continue to be a major beneficiary of this shift in industry prioritisation.

“I would like to thank all ZOO colleagues who have responded magnificently to the dual challenges of changing their working environment and embracing a substantial increase in workload which has strengthened our position in the market and leaves us well placed for long term growth. I would also like to thank investors for their continued support in this turbulent climate.”

Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson