Q4 2024 Dolphin Entertainment Inc Earnings Call
[inaudible]
Speaker Change: Good day everyone, welcome to the Dolphin Entertainment 4th quarter, 2024, earnings conference call. At this time, all participants are on the list and only mode. After management's prepared remarks, there will be a question and answer session.
Speaker Change: I would now like to turn the call over to your host, James Carbonara with investor relations. The floor is yours.
Thank you operator.
Speaker Change: D-Statements are based on management's current expectations and beliefs and involve risks and uncertainties that could differ materially from actual events.
Speaker Change: During the call today, management will also discuss non-GAAP financial measures, including adjusted operating income or loss. The company believes that these will provide helpful information for investors. Reconciliation to the most comparable GAAP measures are provided in earnings release.
Speaker Change: Now I would like to turn the call over to Bill O'Dowd, Chief Executive Officer of Dolphin. Bill, please go ahead.
Bill O'dowd: Thanks, James, and welcome everyone. It's usual I'll start by reviewing some of the key financial operating highlights from our fiscal year 2024, and then Mirta will provide a more detailed financial overview before we open it up for Q&A.
Bill O'dowd: So starting with the financials, we delivered strong financial performance in 2024, achieving 20% year-over-year revenue growth to just under 52 million.
Bill O'dowd: Crossing the $50 million threshold in revenue was a significant internal milestone for us, both pragmatically and psychologically.
Furthermore, and perhaps even more importantly,
Bill O'dowd: We achieve positive adjusted operating income for the full year of fiscal and calendar year 2024. As I've stated many times on previous earnings calls, adjusted operating income is the metric by which we measure ourselves as it allows.
Bill O'dowd: Scourge toy fair and at South by southwest.
Bill O'dowd: These are the major sports and entertainment cultural institutions in our country and we are at the forefront of multiple client campaigns and brand activations across all of them.
Bill O'dowd: Now I'll put it simply and Wall Street speak a.
Bill O'dowd: A big part of the investment thesis of Dolphin is that we can leverage and monetize our unique collection of marketing companies that have unparalleled cultural reach.
Bill O'dowd: In order to do that.
Bill O'dowd: To first build such a unique collection of marketing companies over the past eight years, we have done just that.
Bill O'dowd: And the unique nature of our companies was immediately validated with the recognition of the 2025 agency of the year and.
Bill O'dowd: And like a team competing in March Madness, we have.
Bill O'dowd: Taking a quick moment to celebrate the recognition of our efforts over these past eight years and are already focused on our next growth opportunities.
Bill O'dowd: Let me highlight several of these now.
Bill O'dowd: First always alpha.
Bill O'dowd: As a reminder, always alpha officially launched at the start of Q4 in October is the first ever sports management firm solely focused on women's sports.
Speaker Change: The firm was founded by Allyson Felix the most decorated American track and field Olympian of all time alongside her brother West Vela Lux, and our Fabulous CEO cause that ship.
Bill O'dowd: It.
Bill O'dowd: Backed by Dolphin always Alpha aims to address outdated management models and support female athletes broadcasters and coaches in every aspect of their lives.
Bill O'dowd: Since that time, we were pleased to announce a groundbreaking joint venture with deep Blue Sports and entertainment in February of this year.
Bill O'dowd: We believe that deep blue launched by lower currency about a year ahead of always alpha.
Bill O'dowd: The first advertising and brand services agency for women's sports.
Bill O'dowd: We believe that this partnership establishes the largest firm of its kind revolutionizing the women's sports industry with comprehensive talent and brand management services.
Bill O'dowd: We look forward to further elevating women's sports through this historic collaborations earlier.
Bill O'dowd: Earlier this month, we celebrated women in sports and international Women's day by ringing the NASDAQ closing Bell.
Bill O'dowd: Event led by Dolphin and always Alpha featured a course, allyson Felix and cause that tablet along with Laura Garanti and prominent always alpha clients like tailored Jeter in cure Dixon.
Bill O'dowd: Want to take this opportunity to once again, thank NASDAQ for this tremendous opportunity, which is a fantastic and fun day for all of US and allowed us to highlight always alpha is ongoing commitment to elevating female talent and creating opportunities in women's sports.
Bill O'dowd: On a secondary note.
Bill O'dowd: But a very powerful one.
Bill O'dowd: The ceremony also showcase dolphins leadership and empowering women across all of its subsidiaries.
Bill O'dowd: The honor and celebrate international Women's day, we were proud to share that more than three out of four dolphin employees are female.
Bill O'dowd: And every single one of our eight wholly owned operating subsidiaries is at least one female CEO.
Speaker Change: And as I mentioned at the ceremony Arb.
Bill O'dowd: Our beloved CFO, there's also female.
Bill O'dowd: Dolphin has an incredibly deep roster of female leadership and we are extremely proud of this fact.
Bill O'dowd: And speaking of strong female leadership, let me move to the digital Department led by co Ceos Ali Grant and Sarah Boyd.
Bill O'dowd: I'm excited to also highlight that this January the digital department unveiled an exciting new division dedicated to affiliate marketing.
Bill O'dowd: With the affiliate marketing industry now valued at 17 billion. According to Forbes this expansion positions us to tap into a rapidly growing market and represents the last major service offering inside of Influencer marketing to be offered by the digital Department.
Bill O'dowd: Okay. So what exactly is affiliate marketing in one sentence affiliate marketing allows influencers to earn commissions from brands by generating sales of our brands products or services through unique links these.
Bill O'dowd: These links are plays primarily and and Influencers social media E Oran and Influencers website, if they have one.
Bill O'dowd: Digital departments, New Division offers comprehensive support to creators, including sourcing the right products optimizing content designing visually compelling assets and crafting newsletters to engage audiences.
Bill O'dowd: Our goal is to help creators turned their content into conversions and build sustainable long term revenue streams.
Bill O'dowd: And of course, the digital Department earns its standard commission on the revenues achieved by the creators that we represent.
Speaker Change: Leading this division is Kate steel a recognized expert in affiliate marketing, who brings a wealth of experience and a proven track record kato's developed innovative affiliate strategies across leading platforms such as L. T K.
Bill O'dowd: The Amazon Influencer program collective voice and shop by.
It was a pretty much the big four [laughter]. She has worked with top performing clients, including land Benjamin Trina Bowman, Amy Huebner and Stephanie's later her expertise insurers that creators and brands can fully optimize their affiliate efforts turning every opportunity into meaningful income.
Bill O'dowd: The loss of this division is very strategic and meaningful for the digital Department first as noted above it allows us to be one of the very few influencer marketing agencies in the country that offer services across all four major revenue verticals of Influencer marketing.
Bill O'dowd: To recap those for revenue verticals for us at T. D D. R <unk>.
Bill O'dowd: Presenting talent for brand campaigns, that's number one number two now representing talent for affiliate marketing campaigns.
Bill O'dowd: Number three representing brands to create and execute their influencer marketing campaigns and for creating and executing influencer events, such as our branded showrooms.
Bill O'dowd: It also allows us to represent creators and both of the principal ways. They can earn money with their social media feeds that is as brand ambassadors and its affiliate marketers.
Bill O'dowd: We considered the launch of this division to be air quotes a big deal within the digital Department and we will be excited to share key milestones of that division throughout the year.
Bill O'dowd: And no contrary to all rumors we have not signed James carbonara to be an influencer.
Bill O'dowd: Now, let's take a look at our ventures.
Bill O'dowd: First our initial documentary with IMAX, the Blue Angels returned to IMAX theatres in January captivating audiences with a breathtaking three D version that showcased its stunning visuals and immersive storytelling.
Bill O'dowd: Dolphin will share in the long tail of IMAX Museum, and other institutional theater revenues for years to come and on another note. The Blue Angels achieved a significant milestone by winning the motion picture Sound editors Golden Real award for Outstanding Achievement in sound editing for feature documentary.
Bill O'dowd: The movie is really really good and if you haven't had a chance to see it yet we recommend that you check it out the three D version and your local IMAX Museum theater.
Bill O'dowd: Circling back once more to dolphins production routes.
Speaker Change: In Association with aircraft Pictures and photon films, we have completed principal photography for the feature adaptation of the 1986 cult sports drama Youngblood directed by Academy Award nominee Hubert Davis.
Speaker Change: Fun fact, hubertus has a son of a Harlem globetrotters, so he likes tall people and I like Hubert for that.
Speaker Change: The film re imagines the story of hockey Prodigy, Dean Youngblood for a modern day audience. We shot the film in Toronto, Canada, with Ashton James and Blair Underwood, leading a diverse cast produced with the support from telephone Canada and other partners. This project highlights dolphins expertise and reputation and high quality scripted content for young adult.
Speaker Change: And families.
Speaker Change: In terms of timing.
Speaker Change: We expect the Premier Youngblood at one of the fall film festivals, we are aiming for the Toronto Film Festival in early September for obvious reasons and be nice to Premier a hockey movie shot in Canada in Toronto, and we would hope to be able to announce a sale to a theatrical studio or streaming service partner shortly thereafter.
Speaker Change: Now the consumer products, our interest and Rachael Ray's staple Jim had a big win partnering with fresh direct to launch exclusive holiday recipes blending delicious dishes with seamless ingredient delivery across New York, New Jersey and Connecticut.
Speaker Change: The collaboration featured recipes like Negroni Cranberry sauce source excuse me.
Speaker Change: Dirty Martini, shrimp, and Linguine and Lemon blueberry cheesecake with lemon Gen sauce, all incorporating staples yet.
Speaker Change: Hope to have more announcements like this in the coming weeks ideally for when we speak again on our Q1 earnings call.
Speaker Change: Lastly, in our space, we are keeping a close eye on and as we announced this morning Dolphin partner Loady AI expanded its advanced digital identity protection services, making its powerful AI driven reputation management tools accessible to everyone previously exclusive to high profile celebrities. This technology now offers free N.
Speaker Change: Premium membership options for individuals influencers and professionals to monitor and remove unauthorized content.
Speaker Change: With our reported 95% success rate and content takedowns within 17 hours Loady AI addresses deep takes impersonations and content misuse, providing unparalleled protection in this digital age and this expansion underscores loady AI and dolphins commitment to safe guarding digital identities for all users and in.
Speaker Change: Increasingly AI driven world and of course as you can imagine.
Speaker Change: Those issues are very prevalent with our celebrity clients.
Speaker Change: Amid these exciting achievements and strategic initiatives I would like to close by highlighting again that we have also made significant progress on strengthening our financial position to summarize we generated 20% year over year revenue growth to $51 7 million demonstrating strong financial performance we achieved.
Speaker Change: Full year positive adjusted operating income for 2024, a significant milestone in the company's progress.
Speaker Change: And we launched major initiatives across subsidiaries, including the New affiliate marketing Division here in Q1 of the digital Department and the continued investment in growth that always alpha and women's sports management.
Speaker Change: We believe we have built a powerful foundation for long term value creation and are exceptionally well positioned to capitalize on opportunities in 2025 and beyond.
Speaker Change: With industry accolades like being named the 2025 agency of the year by the Observer were.
Clearly on the right track I couldnt be more proud of our team.
Speaker Change: I am deeply grateful for the ongoing support of our shareholders.
Speaker Change: With that said, we believe the best is yet to come for dolphin.
Speaker Change: And we also believe that our stock is deeply undervalued. Our revenues went from a little over $43 million in 2023 to a little under $52 million in 2024. When you went from negative adjusted operating income of more than $2 million in 2023 to positive adjusted operating income of just under a million dollars in 2024.
Speaker Change: That's a difference of over $3 million of adjusted operating income and even with those achievements. We are trading below our last quarters revenue for that matter. We are trading below any of last year's quarterly revenue.
Speaker Change: Thus on a personal note and to underscore that we believe our common stock is deeply undervalued.
Speaker Change: In the second half of last year, I purchased $100000 of Dolphin common stock and I have now started at <unk> five one plan with an initial allocation of a quarter of a million dollars to purchase even more shares. This is intended to highlight my confidence in the company's future and my belief in the significant upside potential of our <unk>.
Stock.
Speaker Change: I'll now turn it over to America to walk through the financials and then we'll open it up for Q&A America.
Speaker Change: Thank you Bill and good afternoon, I'll now review, our 2024 financial results in more detail.
Speaker Change: Revenue for the year ended December 31st 2024 was approximately $52 million an increase of 20% over the same period in 2023.
Speaker Change: Adjusted operating income was approximately $900000 for the year ended December 31, 2024, as compared to an adjusted operating loss.
Speaker Change: $24 million for the same period in 2023.
Speaker Change: Operating loss for the year ended December 31st 2024 was approximately $10 $5 million as compared to an operating loss of $21 million for the year ended December 31 2023.
Speaker Change: Operating expenses for the year ended December 31st 2024 were approximately $62 $2 million, including depreciation and amortization at $2.4 million and nonrecurring expenses and impairment of goodwill of $6.
Speaker Change: $7 million $1 $3 million to write off notes receivable and a $164000 of acquisition related cost.
This compares to operating expenses for the year ended December 31st 2023 of approximately $62 million, including depreciation and amortization of $2 $3 million and nonrecurring expenses and then Pam is a goodwill of $95 million $4 $1 million.
Speaker Change: Write off notes receivable $300000 of impairments of intangible assets and $116000 of acquisition related costs.
Speaker Change: Net loss for the year ended December 31st 2024 was $12 $6 million, including depreciation and amortization of $2 $4 million interest expense of $2 $1 million and nonrecurring expenses and impairments of goodwill of $6 $7 million, one 3 million.
Speaker Change: So right off the notes receivable and $164000 of acquisition related costs.
Speaker Change: This compares to a net loss for the year ended December 31st 2023, and $24 $4 million, including depreciation and amortization of $2 $3 million interest expense of $2 $1 million and nonrecurring expenses and impairment of goodwill of $95 million for $1 million.
Speaker Change: To write off a notes receivable $300000 of impairments of intangible assets and <unk>.
Speaker Change: 116000 of acquisition related costs.
Speaker Change: Loss per share was $1 22 per share based on 10 million 306900, <unk> for weighted average shares outstanding for the year ended December 31st 2024.
Speaker Change: Loss per share was $3.39 per share based on 7 million 206577 weighted average shares outstanding for the year ended December 31st 2023.
Speaker Change: Cash and cash equivalents were $9 $1 million as of December 31st 2024, compared to $7 $6 million as of December 31, 2023.
Speaker Change: In summary, 2024 with a year.
Speaker Change: Michigan financial progress marked by revenue growth reduced operating expenses and improved adjusted operating income we look forward to continuing this momentum in 2025 with that I'll now turn it back to the operator to open the floor for questions I will now ask the operator, operator would you please poll for questions.
Speaker Change: Certainly the floor is now open for questions. If you have any questions or comments. Please press star one on your phone at this time, we ask that while posing your question you. Please pickup your handset is listening on a speaker phone to provide the optimum sound quality. Please hold just one moment, while we poll for questions.
Speaker Change: Your first question is coming from Allen Klee with Maxim Group. Please pose your question your line is live.
Speaker Change: Yes.
Allen Klee: Yes, hi, congratulations on Theres, just so many things I don't know how to.
Speaker Change: List them, but a very impressive everything we're accomplishing.
Allen Klee: My first question.
Allen Klee: As you noted that in the fourth quarter, you made some investments or growth in.
Allen Klee: Can you talk a little about.
Allen Klee: Is there a way to quantify that and is it something that I think.
Allen Klee: You get a return on.
Allen Klee: And in the relatively near term or how do we think about that thank you sure.
Speaker Change: Thank you Alan for your kind comments, where we feel like we're very blessed at the moment.
Speaker Change: And what in eight years right.
Allen Klee:
Allen Klee:
Allen Klee: Yes. It is the investments we've made where are heavily and staffing to staff up and of course launch.
Allen Klee: These alpha.
Allen Klee: The women's sports management firms and we're already achieving revenue with always also here in Q1 and to be fair, we even achieved a little bit of revenue in Q4, but you know as you launch those businesses in your ramp up and you will be attracting clients throughout all of 2025 and for the rest of it.
Allen Klee: Time, quite frankly, and it's going ahead of pace, if I'm being honest about it. So it's it's going great, but you know you'd make those investments in personnel.
Allen Klee: And we will be doing that throughout 2025, you'll be adding it managers to help us build entire rosters and different verticals for women's sports.
Allen Klee: You can imagine if someone were to guess where would we start you know the two most popular women's sports in the United States Attuned with the most established long term leagues are soccer and basketball.
Allen Klee: Obviously, we have a great start on female athletes with Allison and Olympians and track and field athletes, but as we look to grow until a full service every vertical you know first ever women's sports management firms. We know how important it is to to have a roster that includes those two spa.
Allen Klee: So, but but it's it's a quick turn on investment because you know you expect within a few months that the roster that's been coming in or as you expand your roster you're building out meaningful revenue.
Allen Klee: So that was one of the investments we made in Q4.
Allen Klee: The company launched in October of course from a standing start so.
Allen Klee: And then.
Allen Klee: And then the other was the continued expansion of the digital Department.
Allen Klee: Influencer marketing is the fastest growing area of all of marketing to our knowledge any any type of marketing, whether we do it or not.
Allen Klee: And it's just there's just been a.
Allen Klee: It's just been a growth engine for us will continue to invest in the digital Department and then obviously this did not this did not occur in Q4, but in Q1.
Allen Klee: We launched the affiliate marketing services and that there is just another example of you know you you bring in a team of experts.
Allen Klee: Have a very short window of ramp up in a world like that and you're generating revenue very quickly.
Speaker Change: But do you have to make the investment to hire the people first right.
Allen Klee: Got it okay.
Speaker Change: So both of them.
Allen Klee: And.
Allen Klee: Within social influencing.
Allen Klee: With the businesses you've added does this.
Allen Klee: I mean, you said last year this would be.
Allen Klee: Tension at one point, you said it could be a quarter of your revenue does.
Allen Klee: Could it maybe be more of that into 25 with tissue additional businesses you.
Allen Klee: Yeah.
Allen Klee: I I think that's possible, yes, the I would say the 25% is.
Allen Klee: It is almost certain then in future years with with the capabilities, we're adding within the digital department and just its growth rate quite frankly.
Allen Klee: Whereas at a 25% was a good target it wouldn't surprise me if in a year or so it's at 30, 33% it would be even more but of course, we're blessed with the fact that the other companies are growing too.
Allen Klee: So it's a but it is just growing at a faster rate.
Allen Klee: And affiliate will only supercharged at affiliates, a really big deal. It's just not it's not understood wisely, but it's a very much a different service offering than traditional brand.
Allen Klee: You know in Bachelor of work or getting paid to post and talk about our product. The fact that you can link and sell the product and get a commission on the sale is a whole different service and different campaigns different brands.
Allen Klee: And and it has the potential to be very meaningful for us.
Allen Klee: For a familiar to you.
Speaker Change: If you're talking to an influencer or would you use.
Speaker Change: Talk to an existing influencer you'd basically upselling another offering.
Speaker Change: Is that right okay.
Okay.
Speaker Change: And it works you know from a.
How we earn revenue basis, it's they're exactly alike. You know typically make a 20% commission on on what your talent mix. So.
Speaker Change: If brand X hires are talented post three times on Instagram in the next 30 days to support the launch of a new product and pays our inflows are $100000, we get 20% of that if a different brand comes in and says Hey, we've got a sale going into memorial day on.
Speaker Change: This great fashion accessory or there's great tech product and we're selling it for $200 and we're giving you know if you have people purchase that through a link we can attribute it to you and we will give you $40 of every sale.
Speaker Change: And obviously, if a thousand people buy it that's $40000 to the Influencer and we get 20% of that but that can happen.
Speaker Change: At scale.
Speaker Change: It's multiple products per influence or per day, you should be doing so you know at the high end, we have one talent that.
Speaker Change:
Speaker Change: Is doing hundreds of thousands of dollars a month.
Speaker Change: On affiliate revenue and that's just you know.
Speaker Change: They can you can do very well with it if you have a if you have a following that looks to you for recommendations of products to buy.
Speaker Change: It's interesting and I guess it has to do with you.
Speaker Change: Influencing that's in California, and also some of your other businesses.
Speaker Change: Just curious.
Speaker Change: The devastation we had.
Speaker Change: In the L a area.
Speaker Change: And any comments on like it.
Speaker Change: If that impacted you or.
Speaker Change: If you were thinking about.
Speaker Change: The result for that going forward.
Speaker Change: Sure no. Thank you for that kind of reference to that.
Speaker Change: The impact is very much when you think about your people right. We were very fortunate we had.
Speaker Change: We had a good number of people I'd say, probably pretty close to 15 or 20 of our staff and all they had to evacuate.
Speaker Change: But we.
Speaker Change: We count our blessings that none of our folks lost at home close and one or two cases in but.
Speaker Change: Fortunately no one was left homeless, we have many friends and colleagues in the industry, though that lost their homes. We know many people living in both the Palisades in Altadena.
Speaker Change: So our prayers go out to them in terms of a financial impact it had some it did in Q1. Unfortunately.
Speaker Change:
Speaker Change: In both the fires where eventually contained in and you know events.
Speaker Change: Talent and other aspects you know came back to life.
Speaker Change: It is severely impacted January and February on those types of.
Speaker Change: And that type of business, but by the time, we got back to the Oscars The town was.
Speaker Change: Operating mostly at normal so it's.
Speaker Change: It's a Q1 event for us, but it's not longer than that.
Speaker Change: Okay, that's great to hear.
Speaker Change:
Speaker Change: Okay and then.
Speaker Change: With.
Speaker Change: Hum.
Speaker Change: You did mention a little bit with the door of what.
Speaker Change: You did mention.
Speaker Change: Our roster of chefs and lifestyle talent for 25.
Speaker Change: And you brought in.
Speaker Change: DSR P. T agency could could you talk about.
Speaker Change: How you think about.
Speaker Change: What your plans are for the door going forward.
Speaker Change: Yeah, and you're stealing my Thunder a little bit.
Alan Klee: Alan because I was saving that for our Q1 earnings call, but I'll say it here too I mean, the disrupt agency.
Alan Klee: Which is how Adrian pronounces. It you know Adrian Jefferson is founder.
Alan Klee: And as a force of nature, you know I had a I had the pleasure to get to meet her through this process and be able to visit with her a few different times, including at the NASDAQ ringing the bell ceremony.
Alan Klee: And you know we need to give her.
Alan Klee: Her props to you know, we we make a big deal and and it wasn't a big deal quite frankly that we were named the agency of the year right.
Alan Klee: There's only one power ranking in our industry and that's it and and the on the PR side and our group of PR firms are exceptional and it was great to be recognized with that said the power ranking there was a boutique agency in the top 10.
Alan Klee: And that boutique agency was the disrupt agency.
Alan Klee: You know I founded by Adrian.
Alan Klee: And do you know the.
Alan Klee: The ranking had been solidified we didn't know it but you know what the rankings were but they were going to publication and we knew we had the blessing of having adriana and or boutique team join us.
Alan Klee: At the door and so disrupted the doors as Adrian tremendous client list she's across many.
Alan Klee: Cultural and consumer products type companies.
Alan Klee: Many elevating and celebrating African American heritage and.
Alan Klee: It's just a real blessing and.
Alan Klee: Truly adds in every way to the diversity of our roster so that that was a.
Alan Klee: A big deal for us too and we felt like well.
Alan Klee: We'll talk a little bit about our.
Alan Klee: Power rankings on this call and some of the great things that have happened here at the end of the year and into the new year, but on the Q1 earnings call, we'll try and give a spotlight shine a little bit that'll be one of our highlights because that's a that's a real nice addition to the door and and you know that business you know the doors now at least couple of years removed from the impacts of Covid, which obviously.
Alan Klee: Devastated the restaurant and hospitality business and they are coming back very nicely and Charlie and most are great leaders for that company.
Alan Klee: That's great. Thank you.
Alan Klee: Getting to hear about Youngblood.
Alan Klee: I'm going to ask questions you can really answer but is it kind of like the.
Alan Klee: I think.
Alan Klee: Or the timing of it it sounded like if everything goes right Mike.
You're able to.
Alan Klee: Sometimes its sale.
Alan Klee: The end of 'twenty five I know these things are hard to.
Alan Klee: Actually.
Alan Klee: Forecast constantly.
Alan Klee: But.
Alan Klee:
Alan Klee: But in terms of I mean.
Alan Klee: In terms of how youre thinking about the size of the movie this.
Alan Klee: This is not going to be a document or I'm trying to think of it do you think or should we think of like the potential opportunity similar to blue.
Speaker Change: Blue Angels or maybe different.
Alan Klee: Yeah.
Alan Klee: Yeah. It's a fair question you know it it youngblood special to us to another one that I'll highlight in Q1 since we started filming in Q1.
Alan Klee: Here you know it marks our return to scripted movies.
Alan Klee: As opposed to documentaries right. So our 50 50 partnership with IMAX allowed us to launch documentaries, obviously, the Blue Angels was our first one it did extremely well for us last year as we reported and now it's back in theaters now so that long tail, we're going to enjoy it for quite a while and those museums youngblood.
Alan Klee: As our first scripted projects since.
Alan Klee: We started buying the marketing companies you know it is our legacy of dolphin. It's.
Alan Klee: What we did when I started the company in 1996.
Alan Klee: Scripted television and then digital and then features right.
Alan Klee: And and it really does feel.
Alan Klee: Like our reemergence into that World, where we're known most known I would think for you now.
Alan Klee: Almost decade long partnership with Nickelodeon.
Alan Klee: And in the wireless space, the family space and young adult space and Youngblood, just that perfect projected at AR.
Alan Klee: It stars are Youngblood that is 18 19 years old in the movie.
Alan Klee: It's a great feel good movie, it's one of those classics hockey there there aren't a lot of sports movies made generally but hockey is the least of all I think if if people were crest the name hockey movies, they probably named slapshot yeah.
Alan Klee: Young blood.
Speaker Change: Miracle in the Mighty Ducks.
Speaker Change: That's four movies in a snapshot was in the 19 seventies. So you know you get a hockey movie about every 12 years. So.
Speaker Change: To be able to purchase out of Mgm's library and remake Youngblood for modern audience.
Speaker Change: It's a movie that we felt could be updated very very nicely.
Speaker Change: And hockey's changed a lot you know that movie came out with Rob Lowe and Patrick Swayze in 1986.
Speaker Change: Well I don't remember how many teams were in the N H L then but.
Speaker Change: It's probably about half of it how many are now there's 30 now there certainly wasn't a team in Miami, Florida, where I'm born and raised in or.
Speaker Change: Or the desert Phoenix Las Vegas, they didn't have teams right.
Speaker Change: So.
Speaker Change: The sports grown more popular and we have the we have the chance and we'll talk a little bit more about this in Q1.
Speaker Change: You know, we will have the chance to.
Speaker Change: Hopefully premier at the Toronto Film Festival, where we think we can get a very good reception since we shot the movie there and it is a hockey movie after all in Canada, and then you know we'll see if we can get it released in Q1 of next year, we have a lot of marketing advantages to do so that's at least the wishes we'd be in hockey season. So we'll talk some more about that in Q1, but yeah. We're we're excited about that move.
Speaker Change: Yeah.
Speaker Change: And we'll have you know hopefully it marks the start of a return to a production that I know a lot of people have been looking forward to.
Speaker Change: Okay.
Speaker Change:
Speaker Change: Just in terms of other deployments venture side has anything.
Speaker Change: Like I know staple juice private but or are you just feeling how are you feeling about.
Speaker Change: You know how that's going.
Speaker Change: Well, we feel good about staple.
Speaker Change: Staples, probably ready for the expansion to more states. So it is a it is a private enterprise. It that we have a share in rates. So you know I know the management there that we obviously are the marketing partner and advisor for US is getting ready to go to market too to.
Speaker Change: Secure the ability to go into those more states because it's doing well so that's that's exciting.
Speaker Change: And I do expect that as you know as I mentioned, we hope to have another announcement on that.
Speaker Change: And just you know.
Speaker Change: Six weeks right. This is a short stretch right between this earnings call them an excellent.
Speaker Change: I do think that we'll have.
Speaker Change: Have more liquor.
Speaker Change: In liquids to talk about adventures.
Speaker Change: Skincare, something we're very excited about and are working with to identify I know we had hoped we could do something this year in that space as well.
Speaker Change: And then we're always on the lookout for other ventures, we have.
Speaker Change: A couple of in mind that a little too premature to talk about but we'll see where we are this spring or summer.
Speaker Change: And take those 510 15, sometimes more ownership stakes in something that that you know.
Speaker Change: We can market and market effectively.
Speaker Change: So we feel good about it I will say that a lot of our management focus has been on the growth of always alpha in the digital apartment.
Speaker Change: But you know ventures are top of mind as well.
Speaker Change: Okay great.
Speaker Change:
Speaker Change: I think that those are my questions at this point and congrats again.
al: Thanks, Al and we really appreciate it.
Speaker Change: There are no additional questions in queue at this time I would now like to turn the floor.
Bill O'dowd: Back over to Bill O'dowd for any closing remarks.
Oh, Wow, well you know I was reflecting on this call and the completion of the group of companies that we were able to assemble and.
Bill O'dowd: Think about the journey from eight years ago.
From this Sunday.
Bill O'dowd: That's a that's when we bought.
Bill O'dowd: And brought into the family 42 West.
Bill O'dowd: And.
Bill O'dowd: Followed by the door and followed by shore fire and followed by be social and followed by social like the merge and followed by the HIV.
Bill O'dowd: You know followed by special projects, followed by L and the launch of always Alpha.
Bill O'dowd: And here we are eight years later in one huge recognition later I mean.
Speaker Change: I mean, I'm, a guy that grew up playing basketball and played college basketball and I know what the top 25 rankings mean.
Speaker Change: And Creighton when I played for US never made it the number one [laughter] instead to have the number one group of PR firms in the country.
Speaker Change: I don't I don't want that glossed over.
Speaker Change: That's quite an achievement and.
Speaker Change: For for the leaders of each of those companies and everyone that works there.
Speaker Change: That's across like I said in my prepared remarks, all industries in the entire country.
Speaker Change: So obviously, there's some subjectivity to those lists where tumble the humble enough to know that but you also have to do.
Speaker Change: Be in a position to where you could be considered to be the best in.
Speaker Change: In the country and and I do think that.
Speaker Change: Those agencies deserve that.
Speaker Change: Opportunity.
Speaker Change: And.
Speaker Change: Gratifying sitting here to have that as the tailwind into the next phase for dolphin.
Speaker Change: Like I said in the prepared remarks till you get like one night to celebrate and then you're back to work in.
Speaker Change: We're gonna grow this company and we're going to invest in people.
Speaker Change: And opportunities that we see them such as affiliate marketing such as women's sports.
Speaker Change: And and the growth that I think are primarily female leadership is going to offer to us across each of our companies.
Speaker Change: And we'll be judicious and.
Speaker Change: Good stewards of our opportunities both internally and then with debentures, but we just have too much potential.
Speaker Change: And we're excited for this phase.
Speaker Change: Of Dolphin, we built the group.
Speaker Change: Have some fun with the group right.
Speaker Change: So thank you to those who who followed us, especially for the handful that have followed us since 2017.
Speaker Change: And.
Speaker Change: We look forward to the next call in and onto 2025 right. So thank you everybody.