Twilight helps profits double at Entertainment One
Booming digital sales and strong brands such as Peppa Pig and the Twilight film franchise helped to double annual profits at the film and television distributor Entertainment One.
Darren Throop, the chief executive, hailed an exclusive deal with Amazon's LoveFilm to sell movies on demand for "significantly" boosting digital sales in the UK. Total digital revenues doubled to £66m, representing 13 per cent of group turnover. "It's a high-margin, low-revenue business," explained Mr Throop. "There are no returns, no trucks and no retail space."
Pre-tax profits at Entertainment One more than doubled to £23.1m against £11.4m a year earlier. Turnover rose 7 per cent at £503m.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies