UBC gains 47% half year turnover increase
UBC Media has raised turnover at the Half Year stage by 47% to £2.2m, quadrupled gross profit to £250,000 and reduced operating losses by 28% to £355,000.
The growth in turnover has come across the board in all the company’s divisions but was mainly due to revenues from Sky Arts, for whom Smooth Operations produced 15 hours of live television from the Cambridge Folk Festival whilst also covering the event for BBC Radio 2.
Video production now represents nearly 30% of UBC’s turnover and today the company also announced a deal for its Entertainment News division to supply Yahoo! with its own tailor made showbiz videos. The videos will be updated seven times a day, along with further daily features from the world of film, music, television and soap operas. The content will appear on Yahoo!’s “OMG” entertainment portal as well as its Yahoo! Movies and Yahoo! TV channels. UBC will receive a revenue share from advertising around the videos sold by Yahoo!
UBC also announced an increased investment in Audioboo, the platform for use of audio on social networks, where the company is now a 40% shareholder.
Simon Cole, Chief executive of UBC commented: “These results show more progress towards our key strategic goals: moving away from our reliance on the heritage audio production business for the BBC and towards a future where video and interactive content and software development will feature more strongly. We do so whilst increasing turnover, boosting gross profit and balancing the investments we are making in new media against a continuing strong balance sheet.”