24th Sep 2019 08:22
(Alliance News) - Peppa Pig producer Entertainment One Ltd on Tuesday warned revenue in its film and television unit has declined over the past five months.
Entertainment One in August accepted a GBP3.3 billion takeover offer by US toy maker Hasbro Inc, getting 560 pence per share. The stock was 0.1% lower Tuesday in early trade in London at 573.50p, having risen 44% since mid-August.
The company warned revenue for the period between April 1 and September 23 in the Film, Television & Music unit will fall slightly year-on-year. Music has done well, Entertainment One said, but film and television less so, mainly due to the timing and mix of deliveries.
Scripted television remains "vibrant", the firm said, and it continues to grow its unscripted programme portfolio. Scripted shows include 'Run' on HBO, and a new horror series called Red Rose to be shown on BBC1, while unscripted shows include MTV's Ex on the Beach.
Music has experienced "significant growth", Entertainment One continued, both organically and from acquisitions.
In the Family & Brands division, which includes Peppa Pig, revenue is expected to be flat year-on-year for the period, despite a "competitive" preschool merchandise market.
Peppa Pig has maintained momentum, and Entertainment One has launched a number of new marketing initiatives to mark the programme's fifteenth anniversary. Other children's shows such as PJ Mask and Ricky Zoom have made strong starts.
By George Collard; [email protected]
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