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Thunderbird Entertainment generating record revenue as demand for content skyrockets

Snapshot

The Vancouver-based global multi-platform entertainment company produces award-winning scripted, unscripted and animated programming for the world’s leading digital platforms

Thunderbird Entertainment Group Inc -

Quick facts: Thunderbird Entertainment Group Inc

Price: 1.95 CAD

TSX-V:TBRD
Market: TSX-V
Market Cap: $91.01 m
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  • Produces award-winning, high-quality content with a track record of robust viewership
  • 17 television programs currently in various stages of production
  • Repeatable and scalable business model with proven earnings history
  • Experienced management team in the media and entertainment sector and predominant board

What Thunderbird Entertainment does:

Thunderbird Entertainment Group (CVE:TBRD) (OTCMKTS:THBRF) is building global entertainment brands for the world’s biggest broadcasters and streaming giants.

The Vancouver-based global multi-platform entertainment company produces award-winning scripted, unscripted and animated programming for the world’s leading digital platforms, as well as for Canadian and international broadcasters such as Netflix, Amazon Prime and Disney.

Its underlying ethos is to make the world a better place, according to its CEO Jennifer Twiner McCarron.

Through its three divisions: Kids and Family, Factual and Scripted, Thunderbird also has a division based in the United Kingdom dedicated to establishing partnerships with production companies to develop the company’s intellectual property.

The company is behind popular titles such as ‘The Last Kids on Earth,’ ‘$ave My Reno,’ ‘Highway Thru Hell’ and the award-winning CBC sitcom ‘Kim’s Convenience.’

Thunderbird’s executive team and board of directors reads like a who’s who of the Canadian entertainment industry. CEO Twiner McCarron is a creative at heart, an Emmy-award winner and one of the leading women in the animation sector.

Its board is stacked with names like film mogul and philanthropist Frank Giustra, noted investor Frank Holmes and Paul Sparkes, a former executive at CTVglobemedia (now Bell Media).

With around 47 million shares outstanding and a C$59 million market capitalization, the Canadian company is poised to take on entertainment industry heavyweights like Lionsgate and Entertainment One as consumers search for new content.

How is it doing:

For its fiscal third quarter ended March 31, 2020, Thunderbird saw its revenue jump by 40% year-over-year to $29.3 million, compared to $20.9 million in the fiscal third quarter of 2019, driven by tremendous growth in the content producer's kids and family division.

The group clocked up revenue of $59.6 million for the nine months ended March 31, 2020, compared to $44.7 million for the same period in fiscal 2019.

Thunderbird achieved record quarterly adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization, of $6.9 million, up 45% from the fiscal third quarter in 2019. The group also generated free cash flow of $4.5 million for the three months ended March 31, 2020

During the quarter, management decided to discontinue operations at its UK division. The related assets and liabilities have been presented as held for sale, and the net revenues and expenses are shown as a loss from discontinued operations.

In a big move, Thunderbird expanded its kids and family division with the opening of its Los Angeles animation studio. The LA studio's first project is already in production with 80 crew members working remotely on it.

On the programming front, the group’s hit show Molly of Denali was recently awarded an esteemed Peabody Award in the children and youth category. Its flagship series The Last Kids On Earth recently debuted its second season on Netflix

Inflection points:

  • Atomic is developing a video game based on The Last Kids On Earth in conjunction with Outright Games, scheduled to be released in 2021
  • Continued buildout of content library across all three verticals
  • Invested funds in developing 25 additional titles

What the boss says:

“We’re really lucky to be working in content,” Thunderbird CEO Jennifer Twiner McCarron told Proactive. “People need it more than ever – it’s a healthy escape. The company is doing such high work in factual and kid’s content. With all of the new players coming online and places to sell our content, it’s never been a better time to be in this business.”

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Thunderbird Entertainment releases fall slate of shows on streaming services...

Thunderbird Entertainment Group (CVE: TBRD-OTC: THBRF) CEO Jennifer Twiner McCarron joined Steve Darling from Proactive Vancouver with news the company has released their fall slate of shows. The company will have 7 new and returning show including animated, scripted, and factual. Twiner...

1 day, 13 hours ago

4 min read