Revenue: $1 billion
Loss: $4.8 million
Egmont, the business arm of the kid-friendly Egmont Foundation, has investments in film, TV, print and the Net, and is in 24 territories around the globe, but the company’s main plan now is to strengthen and expand its Nordic operations.
CEO Steffen Kragh spent his first year in office cutting costs and consolidating, a strategy that hacked 16 business units down to six and “made the group tighter, the distance from the bottom to the top shorter,” he says.
Revs in 2001 grew across all sectors at Egmont, except Nordisk Film, its main pic and TV production outfit. But the brand, with its more than a dozen production and post subsids, is expected to post a profit after several years spent buying up hot production shops around the Nordic territories.
Kragh’s strategy calls for Nordisk Film to double its production and co-production to 12 films a year.
Distrib arm Egmont Entertainment just renewed for two more years its deal with Columbia TriStar Entertainment, giving it a fat pack of films including “Spider-Man” and Bille August’s first Hollywood feature, “Without Apparent Motive.”