Audioboom Grp. Regulatory News (BOOM)

23 Oct 2008 07:00



Date: 23 October 2008

On behalf of: Boomerang Plus plc ("Boomerang" or "the Group") 

Embargoed until 0700hrs

Boomerang Plus plc 

Branded Content and Lifestyle Commissions

Boomerang Plus plc (AIM: BOOM.L), a profitable and vertically integrated, multi-genre, independent television production group operating within the Nations and Regions, today announces that its Branded Content and Lifestyle divisions have won significant new and returning commissions.

Boomerang's Branded Content division, which includes its market leading Extreme Sports production, has won a tendered commission for the Sony Erikson Bboy Championships, an international break dancing competition, together with a commission for 4Sport, a 10 x 60 minute program for Channel 4, following UK hopefuls on the road to the 2012 Olympics. 

Fflic, a subsidiary of Boomerang, has seen its long established and respected Welsh LIfestlye strands recommissioned for 2009. Cwpwrdd Dillad, a program that looks at an individual's life through their wardrobe, has been recommissioned for a fifth series. The 04 Wal brand has been extended to 04 Wal Gwestai and will look at hotels from around the world, and Y Dref Gymreig (translated "The Welsh Town") will investigate historical and vernacular house building. All three series are 12 x 30 minute episodes in length and will be transmitted on S4C in 2009.

The recommissions are significant and together with programming from this weekend's upcoming Freesports on 4 Freeze snow sports and music festival at Battersea Power Station, the Group expects these to contribute over £2 million of revenues for 2008/09.

Huw Eurig Davies, Chief Executive Officer of Boomerang Plus, commented:

"We are delighted that our Branded Content division is showing significant growth and that Fflic continues to develop its strong lifestyle strands. These commissions demonstrate the Group's proven track record and ability to produce high quality programming to both major broadcasters and brand sponsors." 

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Notes to Editors: 

The Group, founded in 1994, has extensive experience in producing content in a variety of genres, including youth programming, music, entertainment, children's programming, extreme sports and drama

The Group has good revenue visibility as a high proportion of its budgeted revenue is contracted with broadcasters 

The market for independent television production companies in the Nations and Regions has grown following quotas from the regulator Ofcom, which require that, depending on the broadcaster, between 10 per cent. and 50 per cent. of qualifying programming hours must be sourced from outside the M25 boundary

Boomerang is ranked in the top five independent television production companies, by revenue, in the Nations and Regions according to the Broadcast Survey (Nations and Regions) 2007

The Board's strategy is both to achieve strong organic growth by leveraging the Group's existing customer base coupled with strategic acquisitions, with a view to becoming a major supplier to UK networks looking to satisfy their Nations and Regions quotas

Boomerang is well placed to lead the consolidation of regional independent production companies across the UK. Target companies which meet the acquisition criteria will have a strong track record, which will assist the Group to grow further, outside Wales