Super-indie said it is placing more focus on BBC and streamers amid ad market downturn
All3Media has reported a drop of just under £100m (10%) in revenue in its latest financial results.
The super-indie group’s revenue fell from £995.2m for the year end 31 December 2023 to £895.9m for the year end 31 December 2024, according to filings posted on Companies House.
Its EBITDA dipped by just over £2m (2%) from £107.4m to £105.3m while total gross profit margin improved to 28.6%, up from 26.7%.
Group revenue from UK programmes fell just over £58m (16%) from £355.2m to £297.1m year-on-year while US revenue dipped just over £37m (11%) from £352.7m to £314.8m and revenue from shows made in the rest of the world dipped only £3.3m from £287.3m to £284m.
All3Media, which was acquired by RedBird IMI in 2024 and is the parent company of major labels including Studio Lambert (The Traitors), Two Brothers Pictures (The Tourist) and Lime (Hollyoaks), said its revenue fell because of “softer demand in a challenging market”.
The document said: “The global linear television ad market has been negatively impacted by the worldwide macro-economic environment, with reduced content spent in 2024.
“The group attempts to mitigate local downturns in the advertising industry through geographic diversification and a focusing on the programming needs of those broadcasters and media platforms that are less reliant upon advertising as their main source of revenue.”
It cited the BBC, pay television networks and streamers such as Netflix and Amazon as some of the broadcasters and platforms it is targeting, and added that it plans to further diversify into social media “to align with ongoing demand” and expects US growth to return.
“While there continues to be an uncertain economic environment with weaker demand, as well as pressure on margins in the production sector, the group’s ability to produce and sell programmes internationally, together with its continued ability to attract and retain creative talent, helps to mitigate the impact of this,” it added.
All3Media is forecasting to grow revenue from 2024 into 2025 and expect to outperform the £105m of EBITDA in 2024.
No comments yet