Wizard Entertainment swung from a $283,276 profit in Q1 2018 to a $143,270 operating loss in Q1 this year, according to the company’s Q1 SEC filing. The biggest factor in the poorer results was a $441,183 decline in sales (down 11% on three shows in Q1 2019, same as Q1 2018). After interest expense, the company lost $223,097.
While the company has been controlling operating costs, those efforts are offset by increasing talent costs.
The short explanation: Wizard is spending more on talent to get people to come to its shows, but they aren’t.
The Q1 loss comes after a $2.6 million loss in 2018 (see "Wizard Lost $2.6 Million in 2018").
Wizard said in the filing it will operate 14 shows this year; last month it announced 15 events (see "Wizard Adds Shows to 2019 Schedule"), and in its 2018 Annual Report it said it would operate 13 events.
Three Shows in Q1
Posted by Milton Griepp on May 21, 2019 @ 12:33 pm CT
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