Alliance Entertainment Reports Fourth Quarter and Fiscal Year 2023 Financial Results

About this update from Alliance Entertainment Holding Corporation

[{"type":"text","content":"Fourth Quarter Fiscal 2023 Net Revenues Totaled $247 Million Fiscal 2023 Net Revenues Totaled $1.2 Billion PLANTATION, Fla., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Alliance Entertainment Holding Corporation (Nasdaq: AENT) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, has reported its financial and operational results for the fiscal fourth quarter and year ended June 30, 2023. Fourth Quarter and Subsequent 2023 Operational Highlights Concurrent with a $4.0 million public offering, the Company’s Class A common stock and warrants were approved for listing on the Nasdaq Capital Market.Distribution Solutions, a division of Alliance Entertainment partnered with Future Today, a leading distribution company in the digital space to expand their reach and offer viewers even more options for its licensed and owned video content.Partnered with Atari® and retro home arcade company, Arcade1Up, for the launch of the Arcade1Up Atari 50th Anniversary Deluxe Arcade Machine for the home through its COKeM International video game division.Shipped over 2.0 million units representing $32.0 million in K-POP sales during the twelve months ending July 31, 2023, a 55% increase over the previous year, with exponential sales growth expected to continue with several other major K-POP acts scheduled to be released throughout the balance of 2023.Company’s Mill Creek Entertainment announced exclusive digital and physical release of Believe Entertainment’s supernatural thriller Nefarious, on Blu-ray™ and DVD following successful Premium Video-on-Demand (“VOD”) rollout.Company’s AMPED Distribution received a remarkable 20 nominations at the 2023 International Bluegrass Music Awards, further solidifying AMPED Distribution's commitment to supporting and promoting the very best in bluegrass music.2023 Record Store Day on Saturday, April 22, 2023 broke a sales record for most vinyl sold in a single day with more than 800,000 units of vinyl created and shipped to participating independent record stores and retail sales expected to surpass $32 million. Bruce Ogilvie, Chairman of Alliance Entertainment, commented, “The fourth quarter was highlighted by our Nasdaq uplisting in conjunction with a $4.0 public offering. Uplisting to the Nasdaq w...

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