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Sunday, July 3, 2022

Why are shares of Dolphin Entertainment, Inc. (DLPN) rising in premarket trading?

Dolphin Entertainment, Inc. (DLPN) shares gained in the premarket after announcing fiscal 2021 results. DLPN stock values at $4.50, gaining more than 17% from the previous close. DLPN stock previously closed at $3.86 with a trading volume of 370.20K shares.


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Global Media and Entertainment Industry Overview

Dolphin Entertainment, Inc. (DLPN) is a vital player in the media and entertainment business, offering entertainment marketing and content production services. Their company is divided into two segments: one is dedicated to entertainment PR and marketing, and the other is dedicated to content creation.

According to industry analysts, the global media and entertainment industry will see tremendous development within the following years. In 2021, the worldwide market for media and entertainment was estimated to be worth around $2.3 trillion. From 2022 to 2028, it is predicted to increase at a compound annual growth rate of 5.9 percent, resulting in a total market value of $3.5 trillion.

DLPN: Financial Statement Highlights 

  • According to the company’s financial results for the fourth quarter of 2021, its revenue climbed by 57% to a record $10.5 million. In 2021, revenues had risen by 49% to $35.7 million. There was $24.04 million in revenue in the fiscal year 2020.
  • Annually, the company had a $6.5 million net loss. During the 2020 financial year, the company had a net loss of $1.9 million.
  • The basic and diluted loss per share was $0.85.
  • As of fiscal 2021, there were $7.7 million in cash and cash equivalents, down from $7.9 million the previous year.

DLPN: Business Updates

  • Dolphin Entertainment acquired a stake in the Midnight Theatre via a share purchase agreement.
  • Crafthouse Cocktails and Dolphin Entertainment have formed a strategic alliance.
  • The Flower Girls, an all-female NFT art collection, joined forces with the firm.
  • A stake in FanJolt was revealed as a firm ownership position.
  • As the games in Beijing got underway, the business teamed up with Winter Sports Champions to promote its NFT line.

Conclusion

Dolphin Entertainment, Inc. (DLPN) has made some prominent acquisitions, and also its revenue increased significantly. That is why the company recorded a massive loss because the company was involved in acquiring businesses and burned cash.

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