Zinc Media secures £4.3 million of new TV commissions
These new commissions are anticipated to deliver improved margins “more in-line” with industry standards, the company explained.
The group said that Blakeway, a London-based factual producer, had won a large international production with the US-based Smithsonian Channel.
Winning new business from the United States is considered an “important step” to the group in diversifying their client base.
Zinc explained how these latest commissions underpinned the company’s objective of growing and diversifying revenue and is part of their four-part transformation plan which was laid out by the Group's new management team in late September.
Shares in Zinc Media were trading 7.55% higher at 0.285p on Tuesday morning.
Meanwhile, Reef TV continues its recovery with additional programmes as part of their ‘Police Code Zero’ series for Channel 5 and Glasgow-based Tern TV continues a “strong performance” with repeat commissions of ‘Children's Hospital’.
"It's good to see the bulk of our TV labels booking steady revenues but more importantly I am pleased to see that new commissions are now anticipated to deliver improved margins which are more in-line with industry norms.” said CEO, Mark Browning.
Browning explained that improving margins on TV commissions were a “first priority” in London and Manchester as part of the transformation plan, and that early signs had seen “demonstrable progress” essential for long-term profitability.
Follow News & Updates from Zinc Media Group here:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.