Zoo Digital, the AIM-listed video streaming and production company, said on Wednesday it was increasing its guidance for the year as demand from major studios ramped up.
The group said the resumption of video productions by major media companies was resulting in a growing market for ZOO’s services and Zoo have also moved into to new area of business adding to their sales.
Zoo Digital said revenues for the full year are now expected to be at least $57 million, a 44% increase on the prior year.
Zoo Digital shares surged on the news, rising over 8% to trade at 141p in midmorning trade on Wednesday.
Stuart Green, Chief Executive Officer
“We continue to see strong revenue growth as we extend our order pipeline across all service lines. As major media companies expand their streaming platforms internationally the global spend on film and TV programming continues to rise. This content must be localised for regional audiences,” said Stuart Green, Zoo Digital Chief Executive Officer.
“With these favourable dynamics at play, ZOO’s technology-enabled end-to-end service offering positions it well to continue to grow and take a greater share of an expanding market.”
