Zinc Media wins another £4m of new business

Television and multimedia content producer Zinc Media Group said in an update on Thursday that, in the four weeks since its last update, it has won an additional £4m of new business.

The AIM-traded firm said it would be booked across 2022 as the commissions entered production.

As a result, in the year to date, revenue already booked into 2022 stood at £17m, nearing its reported full-year revenue for 2021 of £17.5m.

The group said its pipeline remained strong for 2022, with £7m in “highly advanced” discussions.

It said the latest new business included several series recommissions from the group's popular factual label Red Sauce, and from Nation's producer Tern TV.

“The group's rate of new business wins in 2022 has been excellent and we are confident of significantly growing revenues year-on-year,” said chief executive officer Mark Browning.

“We continue to invest in new hires and in new markets and are confident about the outlook for the remainder of the year and beyond.”

At 0941 BST, shares in Zinc Media Group were up 3.5% at 115.4p.

Reporting by Josh White at Sharecast.com.