HALIFAX, NS, Aug. 24, 2022 /PRNewswire/ - The Board of
Directors of WildBrain Ltd. ("WildBrain" or the
"Company") (TSX: WILD), a global leader in kids' and family
entertainment, has extended Eric
Ellenbogen's contract as Chief Executive Officer and Vice
Chair of the Company for three years. Ellenbogen joined WildBrain
in August 2019 and, since then, has
bolstered the Company's core businesses, while opening new growth
areas and expanding into new regions.
Ellenbogen said: "These past three years saw us deliberately
build the resources and teams to create an end-to-end 360-degree
platform to monetize kids' brands globally in the digital world.
While this required significant and consistent investment to
reposition and turn our assets to account, we are now set to
generate meaningful financial returns in the years ahead. We
believe we are the only independent global kids' company with this
full, 360-degree suite of capabilities across production,
marketing, distribution and licensing—a truly unique and valuable
position in today's media landscape.
"Looking forward to our next three years, we've already built an
incredibly strong content pipeline of our owned IP that we'll be
bringing back to market and monetizing across our 360-degree
platform. We'll continue to build on this strong pipeline and,
further, we'll now look to bring on and develop more, and deeper,
partnerships with third-party kids' brands. We'll also continue to
look to partner with the large distribution platforms that need our
capabilities to truly compete, allowing them to engage viewers
wherever, however and whenever audiences want."
Under Ellenbogen's tenure to date, the company has:
- Implemented its 360° IP strategy to activate multiple evergreen
brands from WildBrain's vault, leveraging the Company's
capabilities across content production, marketing, distribution and
consumer products licensing
- Bolstered the management team with experienced executives from
DreamWorks, NBCUniversal, Disney, Nickelodeon, 20th
Century Fox and Hasbro, among others
- Continued to grow the WildBrain Spark digital media division to
over 1 trillion minutes of watch time on YouTube
- Expanded the global footprint of the Company's wholly owned
consumer products agency, WildBrain CPLG, into Asia Pacific, North
America, India,
Germany and Italy; and launched a dedicated China office, forging content partnerships
with iQiyi, Youku, Tencent, ByteDance
and others
- Increased the Company's IP holdings with consolidation of
rights in existing titles, and acquisitions or partnerships such as
the Jay Ward Productions library (Rocky & Bullwinkle, George
of the Jungle, etc.)
- Produced over 550 half hours of original content across
animation and live action
- Executed multiple significant original content and library
deals for evergreen brands with major distribution partners,
including:
-
- Multiple new Peanuts series and specials, plus the classic
content library, under a new long-term agreement with Apple
TV+
- New Yo Gabba Gabba!
series and library deal for Apple TV+
- New Degrassi series and library deal for HBO Max
- New Caillou series and specials for Peacock
- New Sonic the Hedgehog series, Sonic Prime, for Netflix,
in partnership with SEGA, including licensing and
merchandising
- New Johnny Test series
(7th installment) and library deal for Netflix
- New Chip and Potato series and additional seasons for
Netflix
- New Go, Dog. Go! series for Netflix, in partnership with
DreamWorks
- Re-launched the Strawberry Shortcake brand with a new
digital-first series on WildBrain Spark, driving new consumer
products and gaming deals, plus new content production and
distribution deals with Netflix, Peacock, Roku, Amazon and
others
- Grew Peanuts licensing business to over US $2.5 billion at retail, globally
- Secured $25 million in financing
to drive growth initiatives; raised $60
million in over-subscribed Rights Offering; refinanced
credit facilities on favourable terms
As part of the Company's overall succession planning, the
contract includes an option to transition Ellenbogen to Executive
Chair in the second half of the term.
Don Wright, Chair of WildBrain's
Board of Directors, said: "When Eric was appointed CEO and Vice
Chair almost three years ago, WildBrain needed a new vision and a
turnaround. In that time, he has successfully set the Company on a
profitable and sustainable growth trajectory. He has built a deep
and experienced management team and infused our global organization
with a culture of creative excellence, innovation, accountability
and inclusivity. On behalf of the Board, we're confident that Eric
is the right leader to drive shareholder value, with a compelling
vision for WildBrain's future."
Ellenbogen added: "I believe our management team is one of the
strongest in entertainment, and I'm delighted to continue working
with this talented group to cement WildBrain's leadership position
in the kids' and family business. I'm grateful to my colleagues
across the entire WildBrain organization for their passion,
dedication and hard work, and also to my fellow Board members for
their continued support and their diligence on behalf of our
shareholders. It's a great time to be at WildBrain, and I couldn't
be more excited for what comes next."
Prior to joining WildBrain, Ellenbogen spent over 30
years managing some of the most enduring IP in media and
entertainment. He has held senior executive roles as President of
Broadway Video Entertainment, President of Golden Books Family
Entertainment, and President and CEO of Marvel Enterprises before
its acquisition by Disney. With the backing of private equity, he
co-founded Classic Media in 2000, which became one of the largest
private owners of branded kids' and family entertainment and was
acquired by DreamWorks Animation (DWA) in 2012. At DWA, Ellenbogen
became Co-Head of DreamWorks Classics and DreamWorks International
Television and was key to the company's entry into the television
business. Following DWA's sale to NBCUniversal, Ellenbogen became
Co-President of Classic Media, which was restarted as a business
unit of NBCUniversal. Ellenbogen was a board director of
Golden Books and Marvel, then both
public companies.
About WildBrain
At WildBrain we inspire imaginations to run wild, engaging kids
and families everywhere with great content across all media. With
approximately 13,000 half-hours of filmed entertainment in our
library – one of the world's most extensive – we are home to such
brands as Peanuts, Teletubbies,
Strawberry Shortcake, Yo Gabba
Gabba!, Caillou, Inspector Gadget,
Johnny
Test and Degrassi. At our
75,000-square-foot state-of-the-art animation studio in
Vancouver, BC, we produce such
fan-favourite series as The Snoopy Show, Snoopy in
Space, Chip & Potato, Carmen Sandiego, Go, Dog. Go! and more. Our
shows are enjoyed worldwide in more than 150 countries on over 500
streaming platforms and telecasters, and our AVOD business –
WildBrain Spark – offers one of the largest networks of kids'
channels on YouTube, garnering billions of views per month from
over 245 million subscribers. Through our leading agency, WildBrain
CPLG, we also license consumer products and location-based
entertainment in every major territory for our own properties as
well as for our clients and content partners. Our television group
owns and operates four family entertainment channels that are among
the most viewed in Canada.
WildBrain is headquartered in Canada with offices worldwide and trades on
the Toronto Stock Exchange (TSX: WILD). Visit us at
WildBrain.com.
Forward-Looking Statements
This press release contains "forward looking statements" under
applicable securities laws with respect to WildBrain including,
without limitation, statements regarding the growth strategy of
WildBrain, WildBrain's production pipeline, investments made by
WildBrain and expected benefits and associated financial returns,
the value of WildBrain's assets and market position, WildBrain's
succession planning, the business strategies and operational
activities of WildBrain, the markets and industries in which
WildBrain operates, and the growth and future financial and
operating performance of WildBrain. Although WildBrain believes
that the expectations reflected in such forward looking statements
are reasonable, such statements involve risks and uncertainties and
are based on information currently available to WildBrain. Actual
results or events may differ materially from those expressed or
implied by such forward looking statements. These forward-looking
statements are made as of the date hereof, and WildBrain assumes no
obligation to update or revise them to reflect new events or
circumstances, except as required by law.
Forward-looking statements are based on factors and assumptions
that management believes are reasonable at the time they are made,
but a number of assumptions may prove to be incorrect, including,
but not limited to, assumptions about (i) WildBrain's future
operating results, (ii) the expected pace of expansion of
WildBrain's operations, (iii) future general economic and market
conditions, including debt and equity capital markets and the
availability of financing on acceptable terms, (iv) the impact of
increasing competition on WildBrain, (v) changes in the industries,
and changes in laws and regulations related to the industries, in
which WildBrain operates, (vi) consumer preferences, (vii) the
ability of WildBrain to execute on acquisition and other growth
strategies and opportunities and realize the expected benefits
therefrom, (viii) the ability of WildBrain to execute on
production, distribution and licensing arrangements, (ix) the
availability of investment opportunities at acceptable valuations
and the ability of WildBrain to execute on such investment
opportunities, * the timing for commencement and completion of
productions, (xi) the ability of WildBrain and its partners to
execute on its brand plans and consumer products programs, (xii)
changes in the markets and industries in which the WildBrain
operates and the ability of WildBrain to adapt to such changes,
(xiii) changes to YouTube and in advertising markets, (xiv) the
ability of WildBrain to commercialize consumer products related to
its brands, and (xv) changes in foreign exchange and interest
rates.
Forward-looking statements are inherently subject to risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct, and that objectives, strategic
goals and priorities will not be achieved. Known and unknown risk
factors, many of which are beyond the control of the Company, could
cause actual results to differ materially from the forward-looking
statements in this press release. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things, the current outbreak of COVID-19 and
the magnitude and length of economic disruption as a result of such
outbreak, market factors, WildBrain's ability to close and execute
on anticipated production, distribution, licensing and other
contracts, the ability of WildBrain to realize the expected value
of its assets, and other factors discussed in materials filed with
applicable securities regulatory authorities from time to time
including matters discussed under "Risk Factors" in WildBrain's
most recent Annual Information Form and Management Discussion and
Analysis filed with the securities regulatory authorities in
Canada and available under the
Company's profile on SEDAR (www.sedar.com).
For more information, please contact:
Investor Relations: Nancy Chan-Palmateer - Director,
Investor Relations, WildBrain
nancy.chanpalmateer@wildbrain.com
+1 416-977-7358
Media: Shaun Smith - Director,
Corporate & Trade Communications, WildBrain
shaun.smith@wildbrain.com
+1 416-977-7230
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SOURCE WildBrain Ltd.