Sheffield’s ZOO Digital Group set to achieve 20% revenue growth

Sheffield’s cloud-based media production software firm ZOO Digital Group plc, has predicted to see up to 20% growth in revenue by the end of the year.

When this financial year wraps up, the company is expected to report that revenue is approximately £7.4m, compared to £6.2m in 2014.

However, the Company is anticipating a loss at the EBITDA* level of approximately £390k (2014: £324k).

This follows, as previously announced, second half revenues lower than the first due to a combination of seasonality of projects in the entertainment industry and disruptions within a major customer.

The sales pipeline for the new financial year has continued to improve, with the potential to increase even further following the recently announced contract win with BBC Worldwideand the recent appointment by Apple Computer Inc. as an iTunes Delivery Partner.

Zoo Digital’s cloud-based production systems, ZOOsubs and ZOOcore, have been utilized by BBC Worldwide and several other leading content creators and publishers, thereby doubling the number of customers. These developments are expected to lead to additional revenue from digital packaging, subtitling, and other localisation services.

Stuart Green, chief executive officer of Zoo Digital, said: “We are encouraged by the positive momentum of our cloud-based solutions and the opportunities arising from recent client successes. Although the home entertainment market continues to be volatile and evolve rapidly, the investments that we have made during the year in our language translation capabilities are expected to support improved margins, notably in subtitling services.”

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