Zinc Media Group has announced it is returning to profit post-Covid, according to its interim results for the first half of this year, which show a 36% rise in revenues since the end of lockdown in April this year.
Like most TV production companies, Zinc’s revenues were hit by the effects of Covid-19, which saw productions cancelled and delayed during the lockdown at the start of this year. Its interim accounts reveal £1.4 million of programmes were delayed between January and June this year, leaving Group revenues for the first half of 2021 flat year on year. However, the Group has accelerated in the second half of the year, booking a further £4.4m since April, which puts it on track to exceed 2020 revenues.
The Group also reveals bookings for 2022 are close to £5m, which is £1 million ahead of where they were this time last year for 2021. It has cash reserves allowing it to continue to invest in new hires and production opportunities despite lockdown in H1.
Mark Browning, CEO, Zinc Media Group, says: “Our access-driven programmes were particularly affected by this year’s lockdown, but our decision to maintain our investment strategy earlier this year has resulted in a string of notable firsts.”
Zinc has recently announced its first branded content and AFP wins off the back of the launch of Zinc’s Branded Content Division and new label Supercollider, which include Supercollider’s first project, Human Pinball for Red Bull, featuring the biggest free-running set ever built. The Group’s first ad-funded programme from the new branded content division in Zinc Communicate which launched in 2020 will be announced shortly.
New customers include the Discovery group, through Tern’s ten-part Spooked: Scotland, for Really. And Red Sauce’s first commission for UKTV and Zinc’s first commission for Dave: Special Ops: Crime Squad UK.
The Group’s has also started producing podcasts for brands and a first audio commission from Audible will deliver in H2 2021.
Zinc’s made-outside-London revenues equated to 40% of the Group’s TV revenues and over 50% of the Group’s total revenues in the first half of this year. 60% of its workforce live and work outside London.
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