The Associated Press released a report on IDW’s earnings as of last year, and they continue to look pretty bad:
IDW Media Holdings, Inc. (OTC PINK:IDWM), an integrated media company, today reported a fourth quarter net loss per share of $2.29 on revenue of $33.9 million and a full fiscal year net loss per share of $3.90 on revenue of $62.6 million for the three months and twelve months ended October 31, 2019, respectively.
Despite this, their CEO Howard Jonas continues to act as though they’re doing peachy business and alleged TV deals are saving everything:
“The unprecedented demand from streaming networks for fresh, innovative shows provides IDW with a tremendous market opportunity. Our IP portfolio, strong relationships with renowned creators and holistic approach to franchise development strategically positions IDW for near and long-term growth.
“With three new shows premiering on Netflix in a sixty-day span – and a fourth season of ‘Wynonna Earp’ debuting later this year on SyFy, IDW has come a very long way since entering the entertainment space just a few years ago. It has taken a lot of hard work and effort to build out these capabilities, and our team deserves tremendous credit for getting us here so quickly. With this foundation now in place, I am extremely excited about our ability to capitalize on this huge market opportunity. Our outlook has never been brighter.
Yep, bright as a flickering candle, I’m sure. If they’re suffering any kind of losses with every consecutive year, their future looks very dim. The way they handled licensed merchandise adaptations like Jem & the Holograms, Transformers and some of GI Joe were among the biggest mistakes they made, which led to Chris Ryall’s resignation as EIC, though he still remains with the company in an executive role. That’s why they suffered such losses, and when they bungle so badly, chances of recovery are obviously very minor. I figure their heavy reliance on so much licensed merchandise (something Dynamite’s also doing) is another reason they haven’t been able to improve their fortunes.
What good does it do to keep acting like everything’s hunky-dory? Maybe if they addressed honestly what went wrong and apologized, they might have a chance. Pretending the ship is still afloat clearly isn’t working.
Originally published here.