'Chernobyl' producer sister posts $18.6M loss due to Covid and expansion - Deadline

‘Chernobyl’ producer sister posts $18.6M loss due to Covid and expansion – Deadline

EXCLUSIVE: Elizabeth Murdoch, Jane Featherstone and Stacey Snider Chernobyl producer Sister has posted a nearly $20 million loss due to ongoing disruption caused by the Covid pandemic and investment in expansion, and CFO Chris Fry claims the transatlantic indie has “laid the foundation for future growth.” “.

In Sister’s full annual accounts through December 31, 2021, seen by Deadline, the company posted Adjusted EBITDA of $18.6 million, more than double the loss of $7.7 million from the previous set of accounts, although those accounts are unmatched as they were recorded over a period of 18 years. month period.

At $35.9 million, revenue was also “significantly lower than expected,” according to the document, which was attributed to the “continuing impact of Covid and subsequently production schedule delays for shows.”

Various ongoing programmes, including the BBC Double This is going to hurt Y cleavage the third season, along with the Sky/HBO comic horror The baby, could not be delivered on time due to Covid and going forward Sister hopes to prevent this from happening, with virtually all restrictions now lifted. Sister had net assets of $56.8 million and cash and cash equivalents of $27 million at the end of the year.

The accounts attribute the EBITDA loss to “investment in creative and operational staff in the group’s US operations and infrastructure construction along with increased losses due to joint venture and associate results,” all of which were in line with the “broader Strategic Plan.”

Throughout the year, Sister hired staff in the US, as it seems to become equally active on both sides of the pond, hired flea bag producer Lydia Hampson and i can destroy you producer Simon Maloney in the UK, and acquired a 40% stake in Camden’s iconic music venue KoKo.

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Coming up next year is like the long-awaited Amazon The power adaptation, Netflix Greek mythology thriller chaos and the romantic comedy Dan Levy from the same streamer Carambabbc drama The following events are based on a pack of lies and Netflix’s highly anticipated Pamela Anderson documentary via Dorothy Street Pictures, in which Sister acquired a minority stake in March 2022.

Sister’s Fry told Deadline that “we have laid the groundwork for an exciting year ahead and future growth,” with “a host of new commissions, a slate of anticipated releases, and a global collective of partners.”

“Sister continues to gain momentum as a global entertainment group, producing innovative and genre-defining dramas, expanding our footprint in the US, and supporting growth across our ecosystem of independent, creator-led startups,” he added. “Patient investment is key to our mission to empower visionary creators working in all forms of entertainment.”

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