What it does
Entertainment Daily covers all the latest TV shows, soaps and celebrity gossip in the UK entertainment news space. It targets a 30+, 90% female audience.
The Daily Mash is the UK’s leading satirical website, providing a unique take on news, politics, sport, arts & entertainment and lifestyle issues since 2007. It has a spin-off TV show, The Mash Report, airing on BBC2.
In October it acquired Tab Media, owner of The Tab, a national website and 32 sub-sites individually focused on UK universities, for £750,000.
How it is doing
In February, the company said its performance in its current financial year to date has been “ahead of our initial expectations” following an improvement in its performance in the second half of 2020.
In an update on trading, the firm said the Tab is continuing its positive integration into the business following its acquisition in October, reaching profitability after just three months of ownership. The firm also highlighted audience growth across its portfolio with over 12mln monthly users.
The firm also confirmed that revenues and profits for the second half of the year to 31 December had been stronger than the first half, while for the full year it expects to report revenue of around £2.2mln, flat year-on-year, alongside adjusted earnings (EBITDA) of £0.3mln compared to £0.5mln in 2019. The company’s cash balance and the end of the year rose to £1.9mln from £1.2mln in 2019.
The firm have also made moves to strengthen its board, announcing in early February that it had appointed Marcus Rich, media industry veteran, as its new chairman.
What the boss says: James Carter, chief executive
“2020 will go down in history as one to be forgotten by many, but Digitalbox made significant and exciting progress through these challenging times. We continued to execute our buy and build strategy within complementary content verticals and the acquisition of the Tab, brought in a new cornerstone investor in the form of Downing, LLP as we start to institutionalise our shareholder register, strengthened our Board and appointed Panmure Gordon as our nominated adviser and joint broker.”
“2021 has started positively with the integration of The Tab onto the company’s proprietary tech platform (Graphene) progressing well, having helped take a loss-making business into profit within a three-month window. With the refreshed board and strong current cash balance, the company is confident that the broad economic conditions expected in 2021 will create opportunities to continue its buy and build strategy within complementary content verticals as digital mobile advertising revenues grow ahead of other sectors.”
- Traffic growth as the lockdown continues
- The Tab continues to integrate
- Ad revenues to recover