Thunderbird Entertainment Group Inc See First Quarter Revenue Increase 77% Thanks to Growth in Production Services Projects and New Strays Series

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The company said its free cash flow for the quarter ended September 30, 2021 increased by $ 2.2 million to $ 3.4 million, an increase of 183%.

Thunderbird Entertainment Group Inc (TSX-V: TBRD, OTCQX: THBRF) reported revenues of $ 35.1 million for the first quarter of fiscal 2022, an increase of 77% year-over-year, which the company attributed to the growth of its production services projects and the delivery of its live-action series Strays for CBC.

Thunderbird also said its free cash flow for the quarter ended September 30, 2021 increased by $ 2.2 million to $ 3.4 million, an increase of 183%.

“Content remains king and Thunderbird lays the foundation for sustainable growth in the face of ever-increasing demand,” Company CEO Jennifer Twiner McCarron said in a statement.

“With quality as a North Star and our focus on sustaining a diverse, inclusive and excellence-promoting culture, Thunderbird will continue to be the leader in delivering premium content to our partners, thereby creating more value for customers. shareholders, ”she added.

READ: Thunderbird Entertainment’s Great Pacific Media Division Teams Up With Director Brad Peyton And Physicist Michio Kaku For New ‘If: Imagine the Impossible’ Series

In addition, the company noted that its adjusted underlying earnings (EBITDA) in the first quarter improved 31% year-on-year to $ 6.3 million.

Thunderbird said it had 27 programs in various stages of production at the end of September 2021, with 12 of the projects being IP service productions or managed by corporate partners where it receives a percentage of the revenue streams.

The productions are currently airing on Netflix, Peacock Nickelodeon, Apply, Sony (NYSE: SNE), PBC, Bell Media’s Discovery, Disney +, Corus Entertainment (TSX: CJR.B) and CBC, among others, he added. Strays, the spinoff series of Kim’s Convenience, premiered on CBC during the quarter.

Thunderbird Entertainment Group creates global entertainment brands for the world’s largest broadcasters and streaming giants.

The Vancouver-based, multi-platform global entertainment company produces award-winning scripted, unscripted and animated programs for the world’s leading digital platforms, as well as for Canadian and international broadcasters such as Netflix, Amazon Prime and Disney.

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