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Finance

Zoo Entertainment predicts reversal of $17m loss

Tue 01 Feb 2011 8:38am GMT / 3:38am EST / 12:38am PST
FinancePublishing

Publisher to announce annual profits of up to $2.8m

Casual publisher Zoo Entertainment has released preliminary details for its last financial year, predicting "record revenue" of $67 million to $69 million.

This is up between 38 and 42 per cent on the previous year. The Hello Kitty Seasons and Minute To Win it publisher also expects profits to be between $1.84 and $2.84 million - up from a $17.3 million loss in 2009.

Said Mark Seremet, CEO of Zoo Entertainment. "Even with the 20% industry-wide decline of the Wii and DS markets in 2010, we were still able to achieve record numbers, taking market share in a very difficult environment. In fact, we generated the highest levels of revenue and profit in the company's history.

"We believe this has set the stage for 2011 to be a transformative year for Zoo Entertainment. as we expand our game publication capabilities to more digital and console platforms than ever before."

Via an online publishing program for small studios known as indiePub, the publisher hoped to expand "beyond the casual console gaming segment to the rapidly growing digital and mobile landscapes."

In 2011, Zoo plans to release 31 digital titles, 19 mobile and 21 console. 71 per cent of its porfolio will be download or mobile titles.

Said Seremet, "While the company was once tied to the Wii and DS model with more than 95% of our titles in 2010 being released on those platforms, we are evolving to become a leading distributor of digital titles across all major mobile, PC, console and social media platforms, as well as continuing to maintain our strong market share of the retail business.

"With a majority of our 2011 titles slated for release on mobile and digital platforms, we expect higher margins and greater profits as our digital model continues to unfold."

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