Thunderbird Entertainment Group saw a 6% revenue increase in its fiscal Q2, attributed to increased service production.

For the three months ending on Dec. 31, 2024, revenue grew to $47.2 million from $44.5 million the same period a year prior. Total revenue for the current fiscal year sits at $92.8 million, up 19% from $78.1 million compared to the 2024 halfway mark.

As a result of the growth, as well as lower administrative costs, adjusted EBITDA for the quarter increased 8% to $4.2 million versus $3.9 million in Q2 2024.

In the quarter, Thunderbird had 21 programs in production, seven of which were original IP, and 14 were service productions.

“We’ll consider taking on more [service production] where it makes sense, as it provides the opportunity to highlight the adaptability of our teams and the high quality work we can produce,” said Thunderbird CFO Simon Bodymore during the company’s earnings call. “It also provides us with the opportunity to meet and work with new customers.”

Thunderbiurd’s net income increased $0.2 million from the previous period to $0.8 million in the second quarter. This marked its fifth consecutive quarter of positive earnings, according to Bodymore.

During the call, Thunderbird CEO and chair Jennifer Twiner McCarron (pictured) acknowledged the uncertainties around the ongoing tariff discussion between the U.S. and Canada. While Thunderbird is not directly impacted as audiovisual content is considered a service, not a good, she did mention some positives for the company.

“I’m not going to lie, this current political drama is proving to be very good for our IP show with Will Arnett, Super Team Canada,” said McCarron of the Crave original 10 x 30-minute adult animated series. The show, set to premiere this year, is a coproduction with Thunderbird subsidiary Atomic Cartoons and Arnett’s banner Electric Avenue.

In a previous interview with Playback Daily, Twiner McCarron highlighted B.C.’s film and television tax credit increase, which took effect on Jan. 1, as an incentive for U.S. productions looking to take advantage of a lower Canadian dollar.

She also mentioned the company is aiming to add more scripted series into its production mix, such as the sequel to Tubi original Sidelined: The QB and Me. During the quarter, the company had 20 scripted projects in active development, of which four are in paid network development.

In fiscal 2025, Thunderbird is targeting a 20% revenue growth and more than 10% adjusted EBITDA growth. According to a release on its Q2 earnings, the company has no corporate debt.

Thunderbird is also exploring the possibility of uplisting to the Toronto Stock Exchange, an initiative which is “under active consideration,” according to a release.

Image courtesy of Thunderbird Entertainment Group