Entertainment One (eOne), which owns Peppa Pig among other media properties, has reported that its pre-tax losses for the first fiscal quarter grew to £43.9m – significantly up from £6.8m a year earlier. Revenues dropped 7% to £173.1m and the company stated that this slip was due in part to “lower Film, Television and Music [unit results] driven by lower broadcast and licensing revenues due to fewer scripted deliveries in the period”. It did add, however, that this was “partly offset by higher music revenue through the acquisition of Audio Network and continuing organic growth”. Peppa Pig released “her” album in July and it was big enough to spook Iggy Azalea over the ensuing chart battle between them.
eOne has recently agreed to a $4bn takeover offer from toy company Hasbro, with the eOne shareholders due to vote on the bid this week – although it will still have to clear regulatory hurdles if they vote to proceed with the deal. eOne has been steadily building the music side of its business in recent years, even though Peppa Pig is its biggest hitter, including music by Wu-Tang Clan (yes, really), the Death Row catalogue and administration of the Chuck Berry publishing catalogue.