Business
Dolphin Issues Letter to Shareholders: Highlights Launch Into Multibillion Dollar Women’s Sports Market; FY 2024 Expects Revenue to Exceed $50M, +20% YoY, and to Record Positive Adjusted Operating Income; CEO Doubles Down on Buying DLPN Stock
MIAMI, FL / ACCESSWIRE / October 16, 2024 / Dolphin (NASDAQ:DLPN), an independent leader in content production, entertainment marketing, and related ventures,
About this update from Dolphin Entertainment, Inc.
[{"type":"text","content":"MIAMI, FL / ACCESSWIRE / October 16, 2024 / Dolphin (NASDAQ:DLPN), an independent leader in content production, entertainment marketing, and related ventures, announced the release of a letter to shareholders by Bill O'Dowd, CEO.Dear Shareholders,I have been capitalizing on the current microcap market landscape by increasing my personal investment in DLPN stock.In this microcap environment, I believe there are tremendous buying opportunities, and I firmly believe Dolphin is one of them.I bought $50,000 of DLPN last December, when our share price was over $1.50. I bought another $50,000 of DLPN stock this September when our share price was less than $0.75. As the saying goes, if I thought we were a good value above $1.50, I really think so below $0.75. Especially when you factor in all of the catalysts for our company that have been realized since last December -We recorded record revenue in Q4 of last year.We broke that record in Q1 of this year.In May, we had \"Blue Angels\" in theaters, the first of our documentary co-productions under our multi-year arrangement with IMAX. \"Blue Angels\" was the #1 movie on Amazon Prime over Memorial Day Weekend, and has been highly successful for us, generating well over $1M in ROI already, with years of additional revenue flow to come from its screening on an annual basis in IMAX institutional theaters (i.e. museums, etc.).That same month we launched Staple Gin - available in stores in New York and online across the country. Created by our long-standing client, Rachael Ray, Staple Gin has already won numerous industry awards and has secured industry heavyweight Southern Wine & Spirits for its distribution partner.In July, we acquired Elle Communications, a leading Impact PR firm that is a perfect strategic fit for us. Founded by Danielle Finck, Elle is a profitable, 16 year-old enterprise with fantastic margins. We believe that each of our companies has multiple avenues to cross-sell services with Elle, since Impact work is on the agenda of virtually every one of our clients.And, just last week, we announced the formation of Always Alpha, the first management firm of its kind fully focused on women's sports, in partnership with Olympic legend and well-known inspiration for female athletes, Allyson Felix. With revenue generated by women's sports projected to exceed $1 billion in 2024, a stag...