Thunderbird Entertainment Provides Fiscal 2019 Results and Updates on Transformative Year
Press Release
Conference Call Scheduled for October 22 at 9 a.m. ET
Proven proprietary Intellectual Property (IP) acquisition and development strategy demonstrated through the building of global brands including Highway Thru Hell (100th episode), Kim’s Convenience (Season 4) and The Last Kids on Earth (NYT Bestseller)
Strong growth in the core business: Kids and Family and Factual Divisions
Decision to eliminate low margin, non-core business results in revenue decrease to $61.5 million (F2018: $142 million), while EBITDA margin increases from 7% to 17%
One-time non-cash go public charge of $5.3 million impacts net earnings
Vancouver, Canada, October 21, 2019 — Thunderbird Entertainment Group Inc. (TSXV:TBRD) (Thunderbird or the Company), today announced its financial results for the fiscal year ended June 30, 2019 (“Fiscal 2019”), and provided a corporate update.
“2019 has been a year of incredible transformation and growth across Thunderbird, as the Company has made tough yet strategic decisions to ensure it is well positioned to deliver higher-budget, higher margin, premium-quality productions that will enhance the value of our content library,” said Jennifer Twiner McCarron, Chief Executive Officer, Thunderbird Entertainment. “We look to the future with excitement as we further establish Thunderbird as a preferred content creator and supplier for the world’s leading Over-the-Top (OTT) platforms, by expanding our Company-wide strategy of acquiring, partnering, and building iconic IP and brands. We also recognize that our people are the foundation of Thunderbird’s success, and we remain dedicated to attracting, enabling and retaining the very best talent to continue our industry leading trajectory.”
“As we look forward to 2020, I am thrilled at the opportunities before us. Thunderbird is poised to build momentum, building off the Company’s track record of strong IP development and ownership witnessed in its Factual Division,” said Brian Paes-Braga, Chair, Thunderbird Entertainment. “Jenn, and her entire team, are ready to execute on our robust pipeline of shows in development. With shows like The Last Kids on Earth, Highway Thru Hell, and Kim’s Convenience, Thunderbird is becoming a widely acknowledged leader in IP development and ownership along with being a dependable, go to partner for some of the world’s largest media companies. It’s an exciting time to be in content development, and a Thunderbird shareholder. This is just the beginning.”
IBF4
