Zoo Entertainment Sees Profit In 2010, Plans Digital Focus For 2011

Zoo Entertainment (Minute to Win it) has turned a significant loss in 2009 into a profit in 2010, according to preliminary figures -- ahead of a new focus on mobile and digital games.
Preliminary financial information released today by Zoo Entertainment (Minute to Win it) shows the company turning a significant loss in 2009 into a profit in 2010. Final revenues for the company's 2010 calendar year are projected to finish somewhere between $67 to $69 million, up 38 to 42 percent from 2009's mark. That would put profit for the firm somewhere between $1.8 and $2.8 million for the year, turning around a $17 million operating loss in 2009. "Our record 2010 results reflect solid execution of our strategic plans to expand our game offerings and market reach," said Zoo Entertainment CEO Mark Seremet. "Even with the 20 percent industry-wide decline of the Wii and DS markets in 2010, we were still able to achieve record numbers, taking market share in a very difficult environment." Despite the company's late 2010 introduction of the indiePub Games label -- promoting independent downloadable games -- 95 percent of Zoo's releases in 2010 were retail Wii and DS titles. But the company is looking to change that in 2011, starting a new mobile division -- indiePub Mobile -- to form the core of a digital-heavy lineup. "We were impressed with the quality and quantity of the mobile games submitted for judging in our recent competition, and plan to continue its development through indiePub Mobile," Seremet said. Overall, 27 percent of its 71 titles planned for 2011 release will be on mobile devices, accompanying an additional 44 percent which will be available on Steam, Facebook or console download services.

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