Thunderbird Entertainment Provides Corporate Update and Reports on Strong First Quarter Results
Press Release
Conference Call and Webcast scheduled for December 2 at 9 a.m. ET
Focus on building and partnering IP to build global franchises
Q1 2020 Revenue $17.1 million; Adjusted EBITDA $3 million
Company cash position at September 30 2019: $16.3 million
21 programs in production with nine being owned or partnered IP
CEO Jennifer Twiner McCarron awarded top 100 most influential women in Canada
Vancouver, Canada, November 29, 2019 — Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTC – THBRF) (Thunderbird or the Company), today announced its financial results for the first quarter ended September 30, 2019, and provided a corporate update.
“Our entire Thunderbird team has continued to focus on our strategy of building high quality, long lasting brands that will stand the test of time, such as our animated The Last Kids on Earth, factual Highway Thru Hell and scripted Kim’s Convenience,” said Jennifer Twiner McCarron, Chief Executive Officer, Thunderbird Entertainment. “Our talent across Great Pacific Media, Thunderbird Productions and Atomic Cartoons, both on camera and behind the scenes, are second to none, and I am so proud of the work we are getting done together. We are just getting started and the best is yet to come.”
“In Q1 2020, Thunderbird maintained its bellwether approach of building long term shareholder value by using internally-generated free cash flow to fund our growing stable of IP and high growth animation business. This is accomplished while maintaining an extremely strong balance sheet with over $16 million in cash” said Brian Paes-Braga, Chair, Thunderbird Entertainment. “With the streaming wars in the early stages, it is encouraging to see the initial success of new entrants like Disney+, recently topping 15 million app downloads, as this underpins the demand for premium content and the monumental behaviour shift that viewers around the world are experiencing. This is a gold rush moment in the content development industry and Thunderbird is poised to capitalize. 2020 is shaping up to be another transformative year.”
Paes-Braga added, “I also want to applaud Jenn and Mark Miller for their achievements and recognitions of excellence, which include Atomic’s growth being recognized by Business in Vancouver as one of the top three largest digital arts companies in B.C. and Jenn being recognized as one of Canada’s Top 100 Most Powerful Women. Thunderbird is fortunate to have a leader like Jenn, as our culture and people are the Company’s greatest asset. It’s incredible to watch our growing team and platform, which is now more than 1,000 crew in Canada, the United States and Europe, passionately creating content that makes the world a better place,”
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