Business
Dolphin Entertainment Announces Record Quarterly Revenue of $12.0 Million and Adjusted Operating Income of $0.3 Million in Q4
Expands TAM by entering multiple new verticals in Q4 2023, and 2024, highlighted by:October 2023 Acquisition of Premiere Talent Booking, Creative Content, and
About this update from Dolphin Entertainment, Inc.
[{"type":"text","content":"Expands TAM by entering multiple new verticals in Q4 2023, and 2024, highlighted by:October 2023 Acquisition of Premiere Talent Booking, Creative Content, and Event Agency, SPECIAL PROJECTSJanuary 2024 Introduction of Skin Care & Beauty Division within Influencer Marketing and Talent Management subsidiary The Digital Dept.February 2024 Launch of Young Adult Division within The Digital Dept.MIAMI, FL / ACCESSWIRE / March 28, 2024 / Dolphin Entertainment, Inc. (NASDAQ:DLPN), a leading entertainment marketing and premium content production company, announces its financial results for the fourth quarter ended December 31, 2023.Bill O'Dowd, CEO of Dolphin Entertainment commented:\"In Q4 2023 Dolphin achieved record revenue of $12.0 million, an increase of 8% year over year, despite the impact of two lengthy industry-wide strikes. Even more impressively, the team delivered positive Adjusted Operating Income of $0.3 Million in the face of such headwinds. Moving forward, following the industry's return to normalcy post-strikes, we foresee positive Adjusted Operating Income on a continuous annual basis, which marks Dolphin's next stage of evolution after the completion of our acquisition strategy and the formation of our Entertainment Marketing Super Group (with Special Projects joining Dolphin in Q4).Now we turn our attention to delivering synergy and organic growth between our companies, and to marketing the Ventures in which we have ownership stakes. This work has already started, and some big milestones will be achieved in the next few weeks.Our \"Blue Angels\" documentary, produced under our multi-year partnership with IMAX, will debut in IMAX theaters on May 17 and on Amazon Prime on May 23, just in time for Memorial Day Weekend.Q2 will also see the launch of the first product ideated by Dolphin that is in partnership with one of the A-list celebrities on our talent rosters.Later in the year, we expect to make the announcement of the first of Dolphin's owned or co-owned live events, to occur in late 2024 or in 2025.Content, consumer products and live events will be the cornerstones of our Ventures, and with Special Projects' expertise in curated, celebrity-inclusive live events, we now have the capability to launch Ventures across all 3 categories of focus. Importantly, we expect Dolphin will receive ownership stakes in the majorit...