DLPN - Earnings call transcript Q1 2024 | Dolphin Entertainment, Inc.

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Operator

Good day, ladies and gentlemen, and welcome to the Dolphin Entertainment First Quarter 2024 Earnings Call. At this time, all participants are on a listen-only mode and the floor will be open for questions and comments following the presentation. Please note, this call is being recorded. It is now my pleasure to turn the floor over to your host, Mr. James Carbonara, Investor Relations. yours. is floor the Sir,

James Carbonara

Thank you, joining XXXX thank for everyone, Call. Good today for afternoon, us Quarter and Dolphin you operator. Entertainment's Earnings First

Before to as Reform actual the forward-looking management's statements risks that the involve meaning based remind uncertainties this like could on events. and statements Private current Please from in call, SEC XXXX. published refer the within we text and Securities These the course earnings are beliefs Litigation conference make and recent the of of everyone may management of begin, contained I'd cautionary Act expectations differ that and forward-looking well regarding release during materially reports. to most filings the earlier as today statements

will most non-GAAP adjusted discuss are call GAAP During provide financial The believes management the the income provided operating the information release. these today, to comparable including helpful Reconciliations company will loss. or earnings measures in investors. measures, for also

turn Now Chief Bill? I would like Dolphin the call Officer of Executive to Entertainment. O'Dowd, Bill over to

William O'Dowd

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Mirta Negrini

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Operator

Thank [Operator Maxim with and for gentlemen, you. now questions. Klee Group. floor the is from question We a have Ladies open Allen Instructions]

Allen Klee

what the amount quarter said beat it A my just costs of on a I on strong give you handily amount that in the expect and $X.X production that what's that you with questions. you the you or expected you're get, very X? to contractual Blue said couple based get what incremental could that you million Angels, of Congratulations the revenues. Starting quarter cost added that about But missed the next would can were. estimates.

William O'Dowd

IMAX theaters Obviously, come, we In and revenue expenses, in theaters revenue be where and of very against X quarters, cost we'll revenue we It Sure. in see premiers start the can have kind revenue we value contractually We're there quarter. for this bigger feels in when revenue or we of Thank money for decades museums to in from-- really that think of IMAX museums additional then may institutional the year. do add this not weekend put and I we'll you of after right? revenue Blue comes months come we theaters from of but the words much that on you, recognize Smithsonian get But Allen. couple in terms next Angels, big hopefully, movie at a like the this the still aviation Thank that in way. quarter and revenue around the will X we its proud great, film Amazon production much generated in Prime kick revenue allocate week. which from more having the theaters the theaters, other institutional to each and that. years can is next more this as continue globe and And the science to in. play and

Allen Klee

able hoping institutional you it? many you're or how with to are for contracted the say Are IMAX theaters, you

William O'Dowd

of in to Yes. time be-- Sure. and there'll in theaters think it We play those this perpetuity. XXX will hopefully XXX

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of with IMAX ago. cameras today years XX and of cameras So shot not

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going very, is tail have my it's to long very a point. we So very, think

Allen Klee

That's great.

and $XX.X out was take Angels million, Blue yes. which if I revenue, your take the I if So

still still-- which quarter ahead, you was my... it a were up Whereas maybe above You million, And this... following performance? $XX.X was would was like where... is sorry. highlight out Go this

William O'Dowd

say. No, to I XX%, over or Yes, my speaking mean over be I about be still apologies, XX% should up don't we'd you. year-over-year,

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You won Spider-Man ran, an entire in mean that-- best minus VFX $XX competition I it in the million the I alone the upset an was my animation One. was over movie I budget pointed a the than of entire movie campaign on just they heard Oscar was mean, think won considering movie that on unbelievable movie. that prepared the which Japanese budget over Godzilla That VFX that out call. then that was more I effects that and visual for where remarks. the and the XX-K best

leaders ones quarter. tremendous But had reason. just done for they're these across a a all is Forget work They're great they nice so market firms.

clients, blue-chip to and clients. year, celebrities Magazine, Oscar's get world got these the of running picture You Week Street very these in also events. in week and blue-chip Apple week. They're I biggest condos. Wall me Fashion times the the you're other and Journal the thing doing and commercial projects. much Versace [indiscernible] W clients are they I mean events New bringing York events highlight heard When you a at that X-X same special and mean like they're with

especially strong quarter, a had they first those X very during So weeks.

Allen Klee

you. Thank

digital then of social which about added think X adults. those the X how on-- I influencing So these new could areas but XQ in how And think But off XQ. maybe strongest, maybe and you meaningful it the department, new how is you've is young potentially skincare drops usually I'm is wondering verticals, they be.

William O'Dowd

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an by I might to that double had category second. expansion we're biggest will-- the beauty And other in size will group vertical in all, That cosmetics. verticals why market talking biggest a one, could can So because skin is the beauty, you but of we which of there, we blank the includes but just on care, be they the then $XXX right? back hair nearing large time, of but out other includes into immediate very there's the And get that the did me come probably it big billion-plus Allen. for they So group impact. itself, care anyway, room about-- have

those as each is big as So of care. verticals skin

with. room of in Osbrink with time player lot that business, run great in is group brands that talent, build just to a have what because adult of probably roster take talent. we mean with work ourselves. the premier like a us with would establishes a then the And a work to in by the has this And relationship biggest we it right the young talent the us and young away. as bringing want it's why major young group to So I while is building Osbrink shaved we're half to it off partnered young

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So our tremendous build that as segment with potential has we relationship brands.

Allen Klee

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William O'Dowd

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Allen Klee

That's it manufacturing will in do And ability New in York? How and distribution? feel about the retail where great. of be you

William O'Dowd

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of could for So the brands liquor these it's of we this a us, start of for whole types be-- think. it we're portfolio excited and

So we're excited.

Allen Klee

you That's strong I that different great. Angels. If at divisions, own I within movies and Blue your and acting heard you strong I look companies the was think and you that your say were

reason any a think X there to quarter? think any you do just show of that segments this the of next some type seasonality of kind seasonally, like compared is Or quarters growth? steady it's we in might think to As the

William O'Dowd

year XX our we'll fact us for core across live business. Well, of the typically a first as half strong always of half probably with most our the the years, year never companies. is of That's for as of the second the just next

even ventures, we a like made handsome that as little in Blue Angels. already in can gate start had half bit, have ventures, theater out to isn't exits we a dozen right? with the success sure, we-- these As you these of imagine great the it's yet. film going if Now We've of profit just out doing that have smooth a we tremendous

second steady So We as put received we many group ventures a form the to penny. of pointing going revenue But we take know But said developing a I that's because ventures rest is don't to those to our have addition I that's the retainer it's it and it's my as also weak, coming influencer twice those, from get the marketing, and that. bit, that-- brand ever a good as the little year different typically we'll of have of but for couple that out, sales. we in month stronger. of little ownership again, We wants think strong use always worth prepared holiday so the And half particularly but remarks, cash that some I a case. a don't is see to result. going stake to typically in to out up that because marketing will our receive that's of be in the influencers income QX every just every not smooth QX drive fact bit, in the year years. and

as and adjusted have good as is that how it's ourselves we year, imagine. basis at which it, which seasonality year. start, to [indiscernible] a to such And that hard is with revenue to look standpoint But a So we also both an how good we QX on we strong will on effect. won't measure feel very see about like income, operating We off this some to well. annual from basis, a

Allen Klee

as that the a up expenses look what overall, you at are there should question. or that If for go or think XQ, you in did go down have about might I we operating we through think year? I any areas financial

Mirta Negrini

the the In because of with revenues those film. cost, correlate direct the

for the amortization have Angels So revenue we've this of we costs. and in the $X.X got of production $X.X for instance, million quarter, million Blue of deferred

So that that on going recognize. number vary is depending to the revenues we

Allen Klee

That the period? deferred amortization of happens that time over loss what

Mirta Negrini

recorded. period the the revenues to time Over we that expect be

the you for period So to what are revenue a estimate it's the going based that ratio be. you reporting on over the project revenues in this total of are

gets to production left So of whenever we and formula revenues, that apply we the that's what report costs, what's expensed. deferred

Allen Klee

back to added get this income? operating Does adjusted

Mirta Negrini

back. that add not did we No,

Allen Klee

or cost cost... noncash a a it's it's But

Mirta Negrini

we... had project. over We've past cost the $X million a in that correct. we invested It's that Correct, in the reported

So capitalized production costs. that's for been undercapitalized it's paid already in balance our sheet and

Allen Klee

Okay.

the of million, over whatever So $X this of will life you the and life it the of amortization the $X.XX assumed of over recognized the million quarter had project. and is rest be you invested

Mirta Negrini

Whenever we report revenues. Correct.

Allen Klee

Okay. Got it.

Okay.

is ventures me wrap Blue And couple going thinking of go just going IMAX? So how how special feel do just of think 'XX? that business like in year let the potentially about then other forward? up identify projects, make you you how I'm on you're do with you terms in about think this a to of about you next that how Angel maybe generically additional thinking-- things. might investments just type you And and partnership could in,

William O'Dowd

at and what smart, are a we yes, said Liberia, in before, the we say. They're middle Liberia taking they're model L.A., good special because York they to They're it Sure. hope entire Well, do New And the industry, of XX They our our good do have but and of I've Nicolai right? projects. just within Dolphin. I'd beautiful between the love industry. events strategic. best they but say little a in lot people, question, executives It's company. little that people biggest to the it's things Andrea

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events the that complement we was our ideate, own core in either they or offering, October because us very So special existing produce cross-selling also back acquisition help co-own. X.X develop with nicely strategic our can but our of and clients, projects because by they

one happened. year. So projects right or there, I'm about the before that on feel pretty toward And to our early end will saying we why be first of of year, to the the announce new year of reason but that's special the good expect the end be record very in the I able the

that why and projects was special of that's acquisition, So strategic a course.

going could I of today. to good in have this the if wish pretty one there week been In years terms theaters, next I have last Film honest, as it. some you I'm the out, been have great. of had Angel is Cannes week. Festival you the time being years. The next want couple one right it And next would announce announced. Blue would the This That well, We've it do one

work film the tremendous, We look studio for of yet, Thursday announcement thinking we great we so can We're And people if said, a Carbonara animation a all there. With want an has we in have-- X right not building in doesn't other like are we IMAX But very in market. us put just wasn't hopefully, the too something that the only Amazon theaters, wanted It's showed it one, because spectacle but next tremendous it can And putting a has pipeline Angel that's have well. [indiscernible], that we not if might And X aggressive. for nights have the talk the week. would very that clients, Ghibli to streaming got fair other one is one over There just night yet. do that And we value getting figured what in Blue achievement very, at That's were have of like one streaming is and after we're right? prepared just exist been services say plan seriousness, theaters. just screen. James to a documentaries people. out, the to business our alone it can't it award default, was career as let It doesn't confident most theaters, documentary obviously we our we're the it. the Studio just a in that about client the Francesco IMAX aren't in platforms. one it production just filming

we good just be about do. got. We that much as one very talk want about you as So we feel what next

Dougiello of Door. are doesn't Charlie The opportunities. the slow evaluating do third terms X, We well, down your of other ventures, we In have-- question

stated opportunities I can very our going space venture the confident I as but we should new have we liquor evaluate, feel maybe to to year, year said years two. goal in this exciting. do they're where be and in That's can have we every even one meet We some having the of think it, it's-- liquor space

care sure can hard in product we make working a are that in market XXXX. have to skin put we We

that be event-- year we So have can something years annual that of we those going And like I they announce year live trying first a one liquor, of lot a year, this of to it's year. live events will over. live our events it forward next as that. a to really close have then event, too. events. will you some X where do each an or next for live tradition But not We're starting or as become we'll where like design we those believe And

events, adding Xth a the that live by the you're starting time sense, makes So Xth category. to-- once in with event and if you're you your X a you're year, get Xth success, got different next doing in you've or

thing to my live equally be and consumer but in So content our important, added portfolio last to the the will strategy they'll the strategy. events be mind, of ventures product

Allen Klee

much. Well, so Great. thank Okay. you

William O'Dowd

you, Allen. Thank No.

questions expand ask on and allow always to most insightful strategy. me You our

So, thank you.

Operator

you. Thank

on this back have. it further O'Dowd no comments have you to for we closing may will line time. questions any I at Mr. the hand As

William O'Dowd

year. full had you, first Obviously, not often we've first thank quarter quarter. everybody very first set blowout whole where is our the the happen previous that's proud a This by we're quarter. It is our It's the very to XX% over record Well, a you revenue where of quarter. listening. record. obviously together. quarter had of the going It's this group We

we that. So know

We go and work, will right back excited. of have Staple to glass right? Gin a celebration and We're

said live content. products ourselves calls, get starting in and on we're And and going last consumer to we I better the not and the we're of building it's events to starting even there to at yet. here see get line couple from the Honestly, As line. only

with excited some for So our we got of very, we our we what start and do know when very proved monetizing proud company quarter We're what the we of have these we've group ventures. our whole it company. company. this can We're together and of

we're as the we So is size, an for think a opportunity there exciting company of our in as market.

August. time, and it, and the So forward and speaking again Thank everybody. to look thank QX appreciate you, you for all with

Operator

Thank does you, This event. today's ladies gentlemen. conclude and

have lines day, your we may you You this participation. a for time, and disconnect your and thank wonderful at

Dolphin Entertainment (DLPN) 14 May 242024 Q1 Earnings call transcript