Business
IDW Media Holdings Reports First Quarter 2017 Results
IDW Media Holdings Reports First Quarter 2017 Results.
About this update from Idw Media Holdings, Inc.
[{"type":"text","content":"\n \n \n IDW Media Holdings Reports First Quarter 2017 Results\n \n \nIDW Media Holdings Reports First Quarter 2017 Results\n\nFirst Quarter gross revenue of $14.8 million resulting in an increase of 38.6% Year over Year led by IDW Entertainment and Publishing\n\n \n STAMFORD, CT and SAN DIEGO, CA--(Marketwired - Mar 17, 2017) - IDW Media Holdings, Inc. (OTCQX: IDWM), a fully integrated media company announced today its results for the first quarter ended January 31, 2017.\n Gross Revenue of $14.8 million for the three months ended January 31, 2017 compared to $10.7 million for the three months ended January 31, 2016. Worldwide sales of IDW Entertainment television shows as well as a 20% increase in revenue in IDW Publishing were the primary drivers of the increased revenue.\n First Quarter 2017 Financial Highlights:\n \n \n IDW Entertainment Revenue of $3.3 million or 22.3% of Gross Revenues compared to $37 thousand last year.\n \nIDW Publishing Revenue of $7.5 million increased by $1.2 million over previous year Q1 revenue.\n \nCTM Revenue of $4.0 million decreased by $0.4 million from previous year Q1 revenue.\n \n \n Commenting on the results, Ted Adams, CEO stated, \"Our Q1 performance reflects solid growth at IDW Publishing and the continued success of the TV programs we have launched in IDW Entertainment.\" \n Our publishing division -- which includes IDW Publishing where we primarily publish comic books and graphic novels and IDW Games where we publish board games and card games, continued to be led by the success of the March books and the Teenage Mutant Ninja Turtles board game was another important contributor to growth in the quarter. We will be launching a new partnership with leading book distributor Penguin Random House on April 1, which we expect will contribute to the long-term growth of IDW Publishing. Given the scope of the transition, we don't expect to see a positive impact of the new distribution partnership until later in the fiscal year.\n IDW Entertainment continued its positive momentum driven by the success of the initial seasons of Wynonna Earp and Dirk Gently. Both series have been renewed for second seasons, with anticipated premieres in 2017. IDW Entertainment continues to form strategic alliances with major talent including the just announced Jonathan Kellerman b...