Blackbird plc recorded its fifth successive year of record revenues in 2022.
Turnover was up 38% on the previous year as the firm, eighth on our MediaTech 50 ranking, ended the 12 months to 31st December 2022 with a cash position of £10.1 million.
However in May the company announced that A&E Television Networks – a major American customer – had terminated its contract with Blackbird, a deal which accounted for less than 10% of its revenues.
Later that month it announced a restructure which led to “a number of people” leaving the company, saving it £500,000 a year in costs.
Andrew Bentley, chair, said the reduced headcount in the UK sales and marketing areas “focuses our resources and maximises our return on investment”.
“Through our streamlined team, now located closer to the market, we are focusing on larger deals and OEM partnerships,” he said.
“We have evolved our strategy to position ourselves to benefit from the fast growth of the creator sector by investing in our creator SaaS product. The development of this creator SaaS platform, led by our chief product officer Sumit Rai, is well underway.”
Former chair David Main, a non-executive director of the company, did not seek re-election at the company’s AGM yesterday.
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