Fox Kids Europe in black as webs bow

Subs rise 32%, revs up 27% to $141.4 mil

LONDON — Fox Kids Europe, the leading pan-Euro children’s entertainment company, has reached profitability in a year of new channel launches and investment in online services.

In the fiscal year ended May 31, its first since flotation, operating income was $5.1 million and net income $273,000. Revenues rose 27% to £100.4 million ($141.4 million).

Subscriber count, up 32% to 19.9 million, has since grown to 21 million as of Aug. 31. Marked increase in audience share has also been seen for services in Spain, Holland and the U.K. in particular.

Over the past 6 months FKE has extended its coverage to Italy, Turkey, and Scandinavia. Its German pay TV channel will launch in October.

Company has further expanded its program library, acquiring or producing 263 new episodes during the past year, which include U.K. and French rights to “Digimon: Digital Monsters” and its feature spinoff.

FKE’s online & interactive division, which hopes to become the leading Web proposition for children in Europe, was established earlier this year at a cost of $2.2 million.

Chairman and chief exec of FKE Ynon Kreiz said, “The fact that we achieved profitability in this period of investment is a very strong indication of the company’s underlying strength. With the launch of our German channel we will reach critical mass as a fully localized pan-European children’s entertainment company.”

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety