Entertainment One profit rises as Twilight and Peppa pay off
A TIE-UP with Amazon’s LoveFilm helped Entertainment One double its pre-tax profits last year, the firm said yesterday.
Profits at the Peppa Pig co-owner rose to £23.1m in the year to 31 March from £11.4m in the previous 12 months, on revenues that grew seven per cent to £502.7m.
The firm also confirmed it was in talks to buy Canadian producer Alliance, which financed last year’s Oscar winner The King’s Speech.
Entertainment One said it had doubled digital sales since last year after a five-year deal with LoveFilm to provide films for the on-demand service.
Big hitters for the company during 2011 included the latest installment of the Twilight film series, and cartoon Peppa Pig.
The firm said US licensing for the pre-school favourite was on track for later this year, including a potentially lucrative merchandising deal.
“The growth in our television business and doubling of digital sales have been particular highlights,” said chief executive Darren Throop.