Zinc Media Group (AIM:ZIN)
has secured £4.3 million of new TV commissions across its portfolio since September this year.
These new commissions are anticipated to deliver improved margins “more in-line” with industry standards, the company explained.
The group said that Blakeway, a London-based factual producer, had won a large international production with the US-based Smithsonian Channel.
Winning new business from the United States is considered an “important step” to the group in diversifying their client base.
Zinc explained how these latest commissions underpinned the company’s objective of growing and diversifying revenue and is part of their four-part transformation plan which was laid out by the Group's new management team in late September.
Shares in Zinc Media were trading 7.55% higher at 0.285p on Tuesday morning.
Meanwhile, Reef TV continues its recovery with additional programmes as part of their ‘Police Code Zero’ series for Channel 5 and Glasgow-based Tern TV continues a “strong performance” with repeat commissions of ‘Children's Hospital’.
"It's good to see the bulk of our TV labels booking steady revenues but more importantly I am pleased to see that new commissions are now anticipated to deliver improved margins which are more in-line with industry norms.” said CEO, Mark Browning.
Browning explained that improving margins on TV commissions were a “first priority” in London and Manchester as part of the transformation plan, and that early signs had seen “demonstrable progress” essential for long-term profitability.
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