eOne's library now valued at $250m

Entertainment One’s library is now valued at $250m, up 14% on its previous independent valuation, the company said.

The rights library currently includes more than 20,000 film and television titles, 2,400 hours of television programming and 45,000 music tracks.

In reporting its interim results for the six months ended Sept 30, eOne noted that its revenue was up 30% to £212m.

Adjusted profit before tax was up 166% to £7.5m, and the loss before tax was reduced to £2.5m from 2009’s £7.9m, including £1.8m of one-time costs to move to the main market.

The film business expanded to 63 releases this period, led by The Twilight Saga: Eclipse. That compares to 51 in the comparable six months of 2009.

Operating cash flow was £30.6m, up from 2009’s £28.6m.

eOne noted that in the digital arena, for downloads and VOD, revenues more than doubled to £15m. That business is expected to grow as the company recently signed a deal with iTunes and Canada’s Netflix.

Darren Throop, CEO of eOne, said in a statement:”We are delighted with the progress made in the first half. It is particularly pleasing to see the success of our Television business, which has enjoyed excellent viewing figures in North America for our new network shows, and the exciting opportunities for eOne Family following the recent deal to air Peppa Pig on Nick Jr. in the U.S. The second half has started well and the pipeline of film releases and television productions remains strong. As we continue to focus on our strategy of investment and multi-territory expansion we anticipate that the business will continue to deliver good growth and are confident market expectations will be met.”

eOne operates its film business in Canada, the US, UK, and Benelux.

The company plans to release more than 60 films in the second half of its year, including animated Gnomeo & Juliet, political thriller Fair Game, and Peter Mullan’s British youth drama NEDS.