Beyond revenues down 13%

MythbustersAustralia’s Beyond International saw revenues and profits fall in its full year results to June 30, 2014.

Revenues dipped A$13.5 million on the result from 2013 and stood at A$89.2 million, while profit after tax was down 14% at just below A$8 million.

However, the Mythbusters producer saw its net cash increase significantly from A$859,000 in 2013 to nearly A$11 million, and the company has no bank debts.

Beyond’s current slate includes a tenth season of Discobery Channel’s Mythbusters, an eight season of Selling Houses Australia with a ninth season commission in the bag, and Wild But True for Discovery Kids.

It is also working up a two-part documentary on Australian record label Alberts Productions for the ABC, while its LA joint venture development prodco with Seven Network, 7Beyond, has “a number of projects in various stages of development”, including pilots, for “major broadcasters and cable networks” in the US.

Beyond also pointed to growing demand for finished programming from OTT services such as Netflix and the new Australian platform Stan.

The firm also expects costs for its production slate will impact revenues and net profit for the six-month period to December 31, 2014, but noted it could not accurately asses the effect at this stage.

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