Zoo proves a perfect sequel to Netflix

NETFLIX has had a rollercoaster year. Having been an American stock market darling, the stock tumbled when subscription rates went into reverse in early 2022.

Now, they are on the rise again. Last week, the firm reported a record 223 million paid subscribers with several million more expected to sign up before the year end.

Once, Netflix was the only streaming service in town. Today, competition is fierce, as Disney+, Apple TV+, Amazon Prime and a host of others battle for viewers’ wallets.

Increasingly, they do so by producing their own shows, hits such as Squid Game or Ted Lasso, only available on the network that created them, but streamed to subscribers around the world.

Zoo Digital helps to make it all happen. The firm has pioneered a way of using software to allow films and series to be translated into dozens of different languages, so audiences from Kathmandu to Sao Paulo can watch whatever they fancy in their local tongue.

Chief executive Stuart Green has amassed a network of 10,000 freelance language specialists, including subtitle creators, dubbing experts, voice actors and directors. Using Zoo’s kit, they can work from home, with just a computer, internet connection and, in the case of actors, basic recording equipment.

The ease of the process – and the quality of the work – have allowed Sheffield-based Zoo to build relationships with all the streaming giants, including Disney+, which is behind the unexpectedly popular series Welcome To Wrexham, now available in dozens of languages.

Last month, Zoo said business was brisk, with first half sales expected to increase almost 90 per cent to $51million (£45million) and plenty of new contracts on the books.

Brokers expect full year revenues of $95 million for the year to March 2023, with profits more than doubling to $6.9million and further strong increases pencilled in for the year ending March 2024. Green is ambitious too, targeting annual sales of $400million by 2030, with profits rising sharply alongside. The target seems well within reach. The big beasts of streaming are battling it out to produce the best shows and the more languages they are translated into, the more subscribers they can reach.

Independent analysis suggests that the translation and localisation services market for media companies should double in size to $3billion a year by 2030, and Zoo is a leader in the field.

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