An uptick in cash generated from telenovela production and distribution has helped UK-listed Dori Media post half-year increases in profit and revenue. The company, which produces scripted content and runs TV channels, reported a 4% increase in group revenue of US$26.3m (20.8m). EBIDTA profit was up 17%, taking the total to US$7.5m.
The company said revenue from telenovela production and distribution increased 54% to US$9.1m in the period. Revenue from TV channels was up 10%, taking the total to US$3.8m. Dori also extended an agreement with Israeli cabler Hot, albeit at reduced terms, to continue operating its premium movie channels.
Other significant deals in the period included a deal with MSN to create a subscription and on-demand online telenovela site aimed at US Hispanic and Latin American consumers.
ÂWhile we are seeing clear indications of an improvement in market activity, the operating climate remains challenging with many programme buyers continuing to exercise caution,Â Dori Media CEO Nadav Palti said.
The company said it expects to remain profitable through 2010 and that demand for telenovela content will grow, particularly on digital platforms.