DHX Media posts sharp rise in Q2 earnings on higher revenues

A major bump in revenue helped indie producer and distributor DHX Media on Tuesday post sharply higher second-quarter earnings.

Halifax-based DHX Media saw earnings rise 115% to $1.8 million, on revenue up 27% to $24.7 million.

DHX Media’s proprietary production revenue, from programming where it retains rights, fell 22% to $4.92 million, as the producer added 32 half-hours to its library.

But that was offset by Q2 producer and service fee revenue rising 103% to $9.85 million, compared to 2010 levels.

And distribution revenue was up 12% to $1.79 million.

DHX Media, which is a major kids TV producer, also reported music royalty revenue rising 12% to $7.01 million.

The Yo Gabba Gabba! live touring show contributed gross revenue of $5.15 million during the latest quarter, based on estimates to the end of the 2011 tour, compared to year-earlier $5.63 million revenue.

And new media revenue rose 304% to $1.05 million.

DHX Media has satellite offices in Toronto, Vancouver, Los Angeles and London.