DHX Media doubles third quarter earnings

Teletubbies

Indie producer and distributor DHX Media on Wednesday doubled its third quarter earnings, despite lower revenues after benching the Yo Gabba Gabba! Live! tour.

Halifax-based DHX posted earnings for the three months to March 31 at $1.8 million, up 98% from a year-earlier profit of $906,000, even as overall revenues fell 7% to $29 million, against a year-earlier $31.2 million.

The revenue fall follows the indie producer choosing to revamp the Yo Gabba Gabba! Live! tour after putting it on hiatus.

At the same time, proprietary production revenue during the third quarter was up 42% to $5.94 million, due in part to the acquisition of Cookie Jar Entertainment.

DHX Media also saw producer and service fee revenues rise 46% to $5.66 million, while distribution revenues rose 42% to $9.83 million as the company looks to drive increased digital revenues from its content library.