DHX now WildBrain

Photo: DHX Media

DHX Media Ltd. is changing its corporate name to WildBrain, the name of its child-focused YouTube business, which will be renamed WildBrain Spark.

"WildBrain Spark now averages more than three billion views per month," new DHX chief executive Eric Ellenbogen said Monday in his inaugural financial report to analysts.

The former president and chief executive of Marvel Enterprises also announced there will be a reorganization of the business to have a more simplified structure as it works to grow its audience while managing a large corporate debt.

Ellenbogen, who was named chief executive at DHX last month, said that it's not news that the company has faced "some considerable challenges" in recent years, but the changes Monday and others ahead will "set the stage for a path forward."

"We continue to improve our financial position by generating positive operating cash flow in fiscal 2019 and paying down debt," Ellenbogen said.

However, Ellenbogen said repeatedly that he would be focused on long-term, sustainable growth for the company rather than quarter-to-quarter improvements.

He said that DHX has well-run business units, including WildBrain, a content creation business, and specialty television channels in Canada, but has yet to integrate them effectively.

"It has barely begun to exploit the value of its entertainment assets," Ellenbogen said.

The proliferation of new streaming services also present DHX with many new opportunities, including its deal to create Peanuts programs for Apple's streaming service.