Florida-based Dolphin Entertainment Inc (NASDAQ:DLPN), which produces and distributes online digital content, posted third-quarter revenue of $5.7 million. The company recently acquired a new creative branding and production house.
For the quarter ended September 2018, the Coral Gables company posted earnings of $0.2 million, or $0.01 per share on revenue of $5.7 million, compared to $6.8 million in revenue for the same period a year ago.
The company said the decrease in revenue in the third quarter was primarily due to “the life cycle of a feature film” that was released in October 2016 and “most of the revenues from that film being recognized during 2016 and 2017.”
Dolphin stock was up 0.12% to $1.42 in morning trade.
Dolphin's legacy content production business, founded by Emmy-nominated CEO Bill O'Dowd, has produced multiple feature films and award-winning television series such as "Zoey 101" and "Ned’s Declassified School Survival Guide."
Dolphin which was initially founded to create digital content and feature films, has in recent years expanded into entertainment and lifestyle marketing with the acquisitions of 42West and The Door, which provides strategic communications, and social media services to the entertainment, hospitality and luxury-goods companies.
In October, Dolphin acquired Viewpoint Creative, a full-service creative branding and production house to cobble together a collection of A-list marketing companies.
"We remain focused on assembling our 'Super Group' of previously privately-held, already profitable, best-in-class entertainment marketing companies, as evidenced by our acquisitions of The Door during the third quarter and Viewpoint in the current quarter, recognized as the third most powerful PR firm in the country and a leading full-service creative branding and production boutique, respectively,” said Dolphin's CEO, Bill O'Dowd.
“Coupled with four new hires to 42West's Talent PR team in the third quarter, we believe that we are well positioned for continued revenue growth in 2019," added O’Dowd.
Dolphin believes that to be an entertainment industry market leader it must be able to both market the content it produces and produce the content to drive effective marketing campaigns.
Contact Uttara Choudhury at [email protected]