LONDON — London- and New York-based producer and distributor ContentFilm cut losses by 41% to £1.32 million ($2.56 million) for the six months to September.
Sales more than quadrupled during the period to $9.29 million as the company consolidated its operations after completing its merger last March with publicly quoted British outfit Winchester Entertainment.
Staff numbers have been cut, particularly in finance, marketing and administration. Three London offices have been combined into one, and one of the company’s two Los Angeles offices has closed.
Moves produced annualized cost savings of more than $1.9 million in the six-month period and a further $1.2 million since the end of September.
The bulk of the group’s revenue came from two films, “Never Die Alone” and “Undertow.” Content also went into production with “The King,” starring Gael Garcia Bernal.
During that time, Content entered a production and financing deal with new film fund Entertainment Investor. The first two projects under that alliance will be “Thank You for Smoking” and “Queen Lara.”
It has also announced a co-production deal with U.S. DVD distrib Image Entertainment.