This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.theguardian.com/media/2016/mar/02/peppa-pig-owner-entertainment-one-disappoints-the-market

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Peppa Pig owner Entertainment One disappoints the market Box-office flops weigh on Peppa Pig owner
(about 3 hours later)
The disappointing box office performance of films last year, including the Steve Jobs biopic, has hit the UK distributor Entertainment One hard, sending its shares tumbling. The disappointing box office performance of some recent films, including the Steve Jobs biopic, has hit the distributor Entertainment One hard, sending its shares tumbling.
The film and TV distribution company, which owns the Peppa Pig franchise, said film sales slid 14% in the nine months to 31 December. Box-office takings fell by almost a quarter to $174m (£123m) from $228m a year earlier. It blamed a lower number of releases (96 against 134 a year earlier) and the poor performance of some recent titles, including Steve Jobs, which flopped at the box office despite a generally positive critical reception. The Canadian distribution and production company, which owns the Peppa Pig TV franchise, said film sales slid 14% in the nine months to 31 December. Box-office takings fell by almost a quarter to $174m (£123m) from $228m a year earlier.
The news alarmed investors and sent the shares down nearly 14% to 149p by Wednesday lunchtime in London. The London-listed firm, which sells TV shows including The Walking Dead and Into the Badlands as well as films such as the Twilight and Hunger Games series, blamed a lower number of film releases and the poor performance of some recent titles, including Steve Jobs, which flopped at the box office despite a generally positive critical reception.
The firm’s disappointing trading statement came three days after the Oscar success of Spotlight, to which it owns the international distribution rights. The fact-based journalism drama won best picture as well as the award for best original screenplay at the Academy Awards on Sunday. The news alarmed investors and sent the shares down more than 13% to 149.4p, the biggest faller on the FTSE 250 index.
The company is confident that film sales will recover this year thanks to its new partnership with Steven Spielberg’s Amblin. It pointed to a strong lineup of new releases such as Roald Dahl’s The BFG and the thriller The Girl on the Train, based on the bestselling British novel, as well as David Brent: Life on the Road, written by and starring Ricky Gervais, which are out this summer. The firm’s disappointing trading statement came three days after the Oscar success of Spotlight, to which it owns the international distribution rights. The fact-based journalism drama beat the Revenant to win best picture as well as the award for best original screenplay at the Academy Awards on Sunday.
Entertainment One said group revenues slipped 3% as the film slump was largely offset by strong growth in television sales, of 39%. The firm said its full-year outlook was unchanged, and insisted that it was on track to double in size by 2020. Entertainment One is confident film sales will recover this year, thanks to its new partnership with Steven Spielberg’s Amblin. It pointed to a strong lineup of new releases such as Roald Dahl’s The BFG and the thriller The Girl on the Train, based on the bestselling British novel, as well as David Brent: Life on the Road, written by and starring Ricky Gervais, which is out this summer.
It has built Peppa Pig – the number one pre-school brand in several countries – into a $1bn global TV and merchandise franchise. The popular cartoon character is doing particularly well in the US, where the firm estimates a 275% increase in retail sales for the financial year 2015. The company’s chief executive, Darren Throop, said: “While the film division continues to experience trading challenges, its restructuring and the exciting committed film release slate for the next financial year provide a positive outlook for film.”
The company’s chief executive, Darren Throop, said: “Whilst the film division continues to experience trading challenges, its restructuring and the exciting committed film release slate for the next financial year provide a positive outlook for film.” Group revenues slipped 3% in the nine-month period as the film slump was largely offset by strong growth in television sales, of 39%. The firm said its full-year outlook was unchanged, and insisted that it was on track to double in size by 2020.
It has built Peppa Pig – the number one preschool brand in the UK, Spain, Australia and Latin America – into a $1bn global TV and merchandise franchise and hopes to double its sales in five years after taking control in October of the UK producer Astley Baker Davies, which created Peppa. The deal includes the production of 52 new episodes. The popular cartoon character is doing particularly well in the US, where the firm estimates a 275% surge in retail sales for the financial year 2015.
Production of Mark Gordon’s new US political drama television series, Designated Survivor, starts in March, and American TV shows Criminal Minds, Grey’s Anatomy, Quantico and Ray Donovan continue to pull in viewers, the firm said.