On February 21, 2023, UK-based media localization provider, ZOO Digital, announced it has inked a deal with a “major content producer.”
The new contract sees ZOO become a key vendor for the client, which was described as a “major Hollywood studio” in the announcement and cannot be disclosed “for contractual reasons.”
In addition to calling on ZOO for localization services such as subtitling and dubbing, the unnamed client has adopted ZOO’s proprietary management platform, ZOOstudio, to help manage the outsourcing of localization services to multiple vendors.
According to ZOO, ZOOStudio delivers “the volume and scale required for an international, multi-language streaming platform” and is already being used by another major studio to support localization operations.
ZOO’s existing clients include Disney, NBCUniversal, HBO, and Paramount Global. The company also said previously it “has frameworks in place with all major Hollywood studios and streaming services.”
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ZOO’s CEO, Stuart Green, said, “We are delighted to be chosen to provide our services and technology to another high-profile streaming service,” while the company called the news a “further success story for ZOO as a strategic technology partner.”
The news delighted investors. ZOO shares rallied 13% on the day of the announcement, adding over USD 22m to the company’s market capitalization, which now stands at USD 200m. ZOO had already been on a tear prior to the news of the deal win, having topped the list of publicly-listed language companies based on its 2022 share performance.
Although longer-term contractual arrangements between ZOO and the client are not yet final, the markets reacted favorably to the news and the revelation that a “significant number of revenue-generating projects for this client are already underway.”