leadf
logo-loader
viewDolphin Entertainment Inc

Dolphin Entertainment sees revenue rise in 2018, thanks to recent acquisitions

CEO Bill O’Dowd says the company is still on a quest to build a “Super Group” of entertainment marketing companies by acquiring privately-held and already profitable firms

puzzle pieces being put together
Through its PR subsidiaries 42West and The Door, Dolphin provides strategic marketing and publicity services

Dolphin Entertainment Inc (NASDAQ:DLPN), an entertainment marketing and production company, saw its revenue rise last year as it completed its acquisition of The Door, a lifestyle PR agency, as well as Viewpoint Creative, a branding and production house.

In a statement, CEO Bill O’Dowd said the company is still on a quest to build a “Super Group” of entertainment marketing companies by acquiring privately-held and already profitable firms.

READ: Dolphin Entertainment reports $5.7 million in 3Q revenue

Dolphin’s management paid up to $11 million to acquire The Door, the PR agency, and another $2 million for Viewpoint Creative, a full-service creative branding and production house. The deals come on the heels of its acquisition of 42West, a PR and marketing firm, for $28 million in March of 2017.

“We are in an era of tremendous investment in original entertainment content by the studios, networks and leading streaming platforms, which we believe positions our companies for strong organic growth for years to come,” said O’Dowd in a statement.

“We further believe that all of our companies will benefit from the ability to cross-sell services, such as the production of original promotional and marketing content, thereby increasing both revenues and profits while raising the average revenue per client.”

Financials in focus

Last year, Dolphin’s total revenue jumped to $22.6 million from $22.4 million in the prior year. Its net loss for the year came to $2.9 million, meanwhile, compared to a profit of $6.9 million in 2017.

In other news, the company also closed a $750,000 direct offering of 250,000 shares at $3.00 per share.

Through its PR subsidiaries 42West and The Door, Dolphin, which has offices in New York and Los Angeles, provides marketing and publicity services to the entertainment and hospitality sectors. 

Dolphin closed up 3.3% to hit US$1.57 on Monday.

Contact Ellen Kelleher at [email protected]

Quick facts: Dolphin Entertainment Inc

Price: 0.6975 USD

NASDAQ:DLPN
Market: NASDAQ
Market Cap: $22.69 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

4D pharma plc merges with SPAC company Longevity Acquisition Corp

4D pharma plc (LON:DDDD) CEO Duncan Peyton tells Proactive the group is to get a cash injection of US$14.6mln through a merger with Longevity Acquisition Corporation (NASDAQ:LOAC), a special purpose acquisition company. Peyton says the merger will accelerate and de-risk 4D's admission to...

12 hours, 33 minutes ago

2 min read