Das Werk reports loss
LONDON — The declining Euro advertising mart is being felt as far afield as the post-production biz, according to German post-production giant Das Werk.
Issuing its first-half results Wednesday, Das Werk — which owns L.A.-based post house Centropolis Effects and a majority stake in production and distribution company ProMark Entertainment — reported a loss of euro 2.5 million ($2.27 million) compared to profits of $1.72 million last year.
Effects of the soft ad market were most sharply felt in Das Werk’s home market of Germany, but the impact extended across Europe. Das Werk’s European post-production interests include En Efecto in Spain and Glasworks in the U.K.
Centropolis Effects financial results were consolidated into the Das Werk figures for the first time, thus post-production revenues increased by 153% $40 million. Overall revenues were $47 million in the first half.
Das Werk’s post-production biz, which includes Road Movies and local player Traumwerk, generated $8.38 million in sales.