eOne TV slate grows profit

Entertainment One (eOne)’s original programming slate has helped the transatlantic producer and distributor raise annual pre-tax profit by nearly 50%.

The Toronto- and London-based company delivered 295 half-hours of programming in various genres in 2013 and is working on shows including Bitten for Canada’s Space and Syfy; Hell on Wheels for AMC; and Welcome to Sweden for NBC and Sweden’s TV4.

The results come on the back of eOne’s recent output agreements with AMC Networks and El Rey Network.

The partnerships will see the firm handle international distribution for original scripted programming from AMC and Sundance Channel such as Halt & Catch Fire and Turn, as well as El Rey shows including From Dusk Till Dawn.

The firm’s finances were also boosted by the released of 214 feature films, including Insidious: Chapter 2, which was produced and distributed by eOne.

Darren Throop, president and CEO, put the results down to “the strength of our strategy of investing in content rights and exploiting them across multiple territories and multiple consumer platforms.”

The results come after a flurry of developments for eOne’s TV business, which named a replacement for outgoing president Peter Emerson earlier this month and a partnership with US producer IDW in April.

It also revealed UK businessman Allan Leighton as its new chairman and non-exec director in March, moved into factual programming by signing a first-look agreement with Jonathan Drake’s Three River Studios in January and unveiled a US$400m warchest to invest in new programming.

eOne’s reported annual revenue climbed 30% on last year’s figure to US$1.3bn, while underlying EBITDA rose 48% from last year to US$147m.