Business
RLJ Entertainment reports financial results – posts loss in Quarter 4
Robert L. Johnson, Founder and Chairman of The RLJ Companies
RLJ Entertainment Inc., has reported results for the fourth quarter and full year ended December 31, 2013.
RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The Company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences.
RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, and fitness, by using new technologies to deliver that content to consumers.
Robert L. Johnson, Chairman of RLJ Entertainment stated, “I am pleased with the progress the RLJ Entertainment management team has made right sizing the business and allocating capital to growth areas. As the appetite for unique and genre-specific content continues to grow both domestically and internationally and across multiple platforms, I am confident that RLJ Entertainment is well positioned to capitalize on this demand and drive cash flow generation, especially as it continues to develop new proprietary digital channels.”
The company reported a fourth-quarter loss of US$2.1 million, compared with a profit of US$1.6 million during the same period a year ago. Revenue declined US$2 million to US$57.5 million.
The loss was attributed to an increase in cost of sales of US$3.9 million – including US$1.6 million in content rights and inventories – compared with US$143,000 increase in cost of sales during the period of October 3 through December 31, 2012.
About RLJ Entertainment: RLJ Entertainment, Inc. is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles.
RLJ Entertainment is a leader in numerous genres via its owned and distributed brands such as Acorn (British TV), Image (feature films, stand-up comedy), One Village (urban), Acacia (fitness), Athena (documentaries) and Madacy (gift sets). These titles are distributed in multiple formats including broadcast television (including satellite and cable), theatrical and non-theatrical, DVD, Blu-Ray, digital download and digital streaming.
Via its relationship with Agatha Christie Limited, a company that RLJ Entertainment owns 64 percent of, RLJ Entertainment manages the intellectual property and publishing rights to some of the greatest works of mystery fiction, including stories of the iconic sleuths Miss Marple and Poirot. RLJ Entertainment also owns all rights to the hit U.K. mystery series Foyle’s War.
RLJ Entertainment leverages its management experience to acquire, distribute and monetize existing and original content for its many distribution channels, including its branded digital subscription channels, Acorn TV and Acacia TV, and engages distinct audiences with programming that appeals directly to their unique viewing interests. Through its proprietary e-commerce web sites and print catalogs for the Acorn and Acacia brands, RLJ Entertainment has direct contacts and billing relationships with millions of consumers.
Source: The RLJ Companies