Business
Dolphin Entertainment 2019 Revenue Increases 11% to $25 Million
NEW YORK, NY and LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium
About this update from Dolphin Entertainment, Inc.
[{"type":"text","content":"NEW YORK, NY and LOS ANGELES, CA / ACCESSWIRE / March 30, 2020 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, announces its financial results for the period ended December 31, 2019.Bill O'Dowd, CEO of Dolphin Entertainment, commented: \"I'm happy to report that results exceeded consensus expectations for both revenues and earnings per share. All members of our PR and marketing \"Super Group\" had a strong 4th quarter, pushing our annual revenues just past $25,000,000, which was terrific. This represents an 11% increase year-over-year.Furthermore, our net loss in the 4th quarter was just $71,428, which was less than half a cent per share, and this number includes Depreciation and Amortization costs of $500,792, or a little over 3 cents per share. This result also exceeds consensus expectations, which we attribute to the cross-selling of services between members of our entertainment marketing super group.Also, we received tremendous recognition in December with the publishing of this year's Power 50 list of the top PR firms by the New York Observer. All 3 of our PR firms made the list, with 42West at #4, the highest-ranking of any entertainment PR firm. Putting that in perspective, it is estimated that there are over 12,000 PR firms in this country. Yet, all 3 of ours made the Top 50 list. Secondly, we believe we are the only company to own more than 1 PR firm on the list. This is our differentiating factor. We have what we call an Entertainment Marketing Super Group, led by our 3 PR firms -- 42West for movies and television; The Door for celebrity chefs, hospitality and consumer products; and Shore Fire Media for music. The combination of these best-in-class companies represents a platform for future growth that is the heart of the investment thesis into Dolphin.\"HighlightsTotal Q4 revenue increased 11% year-over-year to $6,450,931 and full year revenue increased 11% to $25,001,867 as compared to same period in the prior year.Entertainment Publicity and Marketing revenue increased 14% year over year to $24,915,261 for the full year ended December 31, 2019.Operating loss for the three months ended December 31, 2019 of $643,879, which included non-cash items from depreciation and amortization of $500,792, as compared to operating loss of $3,580,080 including n...