Q4 2024 WildBrain Ltd Earnings Call Transcript
Key Points
- WildBrain Ltd (WLDBF) saw strong growth in YouTube, AVOD, and FAST platforms, with significant increases in average view duration and engagement.
- The company successfully refinanced its debt, extending maturities to 2029 and simplifying its debt structure.
- Key brands like Peanuts, Strawberry Shortcake, and Teletubbies showed strong engagement and licensing growth, contributing to revenue.
- WildBrain Ltd (WLDBF) has established a significant presence in the FAST market, with nearly 50% to 60% of all kids channels on these platforms.
- The company is poised to benefit from a shift towards higher-end premium projects for families, with strong partnerships with platforms like Apple TV+ and Netflix.
- Fiscal year 2024 consolidated revenue was down 13%, primarily due to reduced output in studio businesses.
- Content creation and audience engagement revenue decreased by 24% year-over-year.
- Net loss for the quarter was $81 million, driven by non-cash impairment charges on the television business.
- Free cash flow for fiscal year 2024 was negative $29 million, with expectations of elevated leverage through fiscal year 2025.
- The company faced challenges in the content production industry due to a protracted slowdown and dual labor strikes in Hollywood.
Hello, and welcome to WildBrain's Fourth Quarter and Full Year Fiscal 2024 Earnings Call. Today's conference is being recorded. (Operator Instructions)
I would now like to turn the call over to Kathleen Persaud, Vice President, Investor Relations at WildBrain. You may begin the conference.
Thank you, operator, and thank you, everyone, for joining us today for WildBrain's fourth quarter and full year 2024 earnings call. Joining me today are Josh Scherba, our President and CEO; and Nick Gawne, our CFO.
Before we begin, please note the matters discussed on this call include forward-looking statements under applicable securities laws, with respect to WildBrain's current expectation of future events. Such statements are based on factors and assumptions that management believes are reasonable at the time they were made and information currently available.
However, many of these factors and assumptions are subject to risks and uncertainties beyond WildBrain's control,
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