The publishing division did post a sales increase, the first in some time, with sales growing $175,000 from $5.42 million a year ago to $5.60 million this year. Breaking down the publishing division’s sales increase, games were up $166,000, while comic and graphic novel publishing was down $173,000, with changes in digital (down) and licensing (up) revenues due to timing issues making up the rest of the difference in sales. The decline in comics and graphic novel publishing continues to be attributed to “industry cyclical downward pressure driven by market leaders,” along with “timing of significant major brand titles.”
IDW Media Holdings showed a combined loss from all divisions of $461,000 for the quarter, down from a $143,000 profit in the year ago period. Revenues were also down, to $14.2 million from $16.7 million a year ago. The big sales decline was in IDW Entertainment, where sales were down $2.7 million vs. the year ago period due to timing issues, producing a $746,000 operating loss. Brochure distribution and advertising division CTM was the big winner, turning around to a $943,000 profit from recent weak quarters.
IDW’s entertainment division is gearing up for production on a number of series, necessitating new bank financing for $23.5 million in production costs. IDW also took out a $5 million bridge loan from Chairman Howard Jonas in August to finance costs in anticipation of its other financing sources. The company is producing TV episodes at a record pace, delivering 6 of 12 Season 3 episodes of Wynonna Earp in the period; beginning production of V-Wars in July; beginning production of October Faction in September; producing a pilot for Brooklyn Animal Control; and planning to begin production on Locke & Key in February.
IDW has had a rocky run recently, with a series of negative quarters, a new CEO (see "TV Exec Replaces Adams as IDW CEO"), executive turnover in the publishing division (see "John Barber Named IDW’s Editor-in-Chief") and news that civil rights attorney Lisa Bloom has an IDW executive as a client (see "High Profile Civil Rights Attorney Has Executive with IDW Claim as a Client").
On Sales Increase
Posted by ICv2 on September 16, 2018 @ 9:07 pm CT
IDW Publishing Sales Continue Declines").
Column by Steve Bennett
October 16, 2019
This week, Bennett chimes in on Kevin Feige taking control of Marvel TV and Publishing as well as the wisdom of producing a He-Man and She-Ra Christmas Special for a modern audience.
Netflix Gets 'Bone,' 'Stan Lee's Superhero Kindergarten,'Webtoon Does Deals with Crunchyroll, Henson, 'Black Lightning' Casts Wayne Brady, 'JoJo's Bizarre Adventure' on Toonami
Geek TV News Round-Up
October 16, 2019
The Geek TV News has piled up again; let's do a round-up!