Last checked at 28 May 2021 07:00
28 May 2021
Zinc Media Group plc ("Zinc Media" or the "Company" or the "Group")
Trading update
Zinc Media Group plc (AIM: ZIN), the TV and multimedia content producer, is pleased to announce a trading update ahead of its 2021 Annual General Meeting today.
The Company has won a further £1.9m of new commissions for 2021 in the last 5 weeks since its last update on 23rd April, coinciding with the easing of lock-down restrictions. £1.4m comes from the recommission of two returning series and a one-off documentary, and £0.5m from Tern TV and the new Zinc Communicate combined.
Zinc Media has had one previously commissioned programme worth £0.8m cancelled due to Covid and a further £0.5m of programmes have been delayed to 2022 following the latest lockdown,.
The pipeline continues to build in line with the last market update. The Group has a number of high value productions at advanced or highly advanced stages of discussion with channels. Channels have been hesitant to green light these high value programmes during Covid, but the Group is hopeful a number of these will be signed off in the months ahead as confidence returns in the market.
Mark Browning, Chief Executive Officer, commented:
"Winning nearly £2m of new business in 5 weeks is an excellent strike rate for the Group. We know we have a strong pipeline, and this burst of commissioning gives further confidence to this. It is frustrating for our hard-working teams that we have had one big show cancelled due to Covid and some revenue delayed because we have been unable to film in line with our original plans. However, the Group has a strong pipeline, including some very large opportunities. As the market unlocks, and these programmes get commissioned, the Group will see revenues build back to pre-Covid levels.'
For further information, please contact:
Zinc Media Group plc +44 (0) 20 7878 2311
Mark Browning, CEO / Will Sawyer, CFO
www.zincmedia.com
N+1 Singer (NOMAD and Broker to Zinc Media) +44 (0) 20 7496 3000
Mark Taylor / Sebastian Burke
About Zinc Media Group
Zinc Media Group plc is a leading television and content creation group.
The award-winning and critically acclaimed television labels comprise Blakeway, Brook Lapping, Films of Record, Red Sauce, Supercollider and Tern Television and produce programmes across a wide range of factual genres for UK and international channels.
Zinc Communicate specialises in developing cross-platform content for brands, businesses and partners.
For further information on Zinc Media please visit www.zincmedia.com