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IDW Points Finger At Market Leaders For Drop In Revenue

Written by Tim Midura on Tuesday, September 19 2017 and posted in News with Benefits

IDW Points Finger At Market Leaders For Drop In Revenue

Overall sales for the company were down 5% from the previous year.

Source: ICV2

IDW Media Holdings, Inc., which includes IDW Publshing, is one of the few mid-tier publishers, if not the only one, that publicly reveals their financials, which we can then use as a barometer to measure the rest of the industry outside The Big Two. In their Q3 ending July 31, 2017, IDW Media Holdings, Inc. reported reported lower sales and profits while driving their Entertainment division.

Overall sales for the company were down 5% from the previous year period to $16.7 million for the quarter; expenses were up 9%, and net income was down 91% for the quarter, to $143,000, vs. a $1.6 million profit in the same quarter a year ago. 

Two main reasons were cited for the drop in publishing sales. The first is that IDW Publishing switched their book channel distribution from Diamond Book Distributors to Penguin Random House Publisher Services.

IDW changed its book channel distributor on April 1, 2017, a significant and strategic change for IDW. As expected, this resulted in decreased sales in the transitional three months ended July 31, 2017. IDW expects sales to increase during the remainder of the fiscal year, and in the long term, significantly increase the company's presence in the book market.

The second reason cited is "industry cyclical downward pressure driven by market leaders," which translates to Marvel's losses are hurting everyone.

Publishing revenue decreased by ($751,000), principally due to industry cyclical downward pressure driven by market leaders, as well as the timing of significant major brand titles that are expected in the fourth quarter of fiscal 2017.

Aside from publishing, IDW's games division and digital publishing and licensing revenue both took hits as well. IDW's CTM division also took a loss, but was still their most profitable division, while their Entertainment side fell slightly. With Wynonna Earp's renewal for a third season, Dirk Gently renewed for a second season, and Locke And Key in development, their Entertainment division should be growing going forward.


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About the Author - Tim Midura

Born in the frozen tundra of Massachusetts, Tim Midura has long possessed a love for comic books and records. After stealing the beard of Zeus and inventing the pizza bagel, a much more heavily tattooed and bearded Tim Midura has finally settled in San Diego. He's the world's first comics journalist who doesn't want to become a comics writer. Find him on twitter, facebook or by email.

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