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SIRIUS MEDIA 2024 Half-Year Results: Decline and Reorganization
SIRIUS MEDIA has announced a sharp decline in its revenue and profitability for the first half of 2024. The group, which specializes in audiovisual production, recorded operating income of €6.5 million compared to €15.4 million the previous year. This drop is partly due to the disappointing results of the film "Zak and Wowo, the legend of Lendarys".
Faced with these difficulties, the company has undertaken a significant reorganization. A change in governance has been initiated, and a cost optimization plan has been launched, including the reduction of staff and the closure of offices. The operating result is -6.6 million euros. The company is counting on its existing catalog and new financing to recover.
R. E.
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