NEW YORK - Dolphin Entertainment , Inc. (NASDAQ:DLPN), an independent entertainment marketing and production company, has announced through its subsidiary The Door, the addition of So Yummy to its portfolio of clients. So Yummy, a First Media brand known for its digital food content, has garnered a substantial following with over 63 million across social platforms. The brand recently collaborated with kitchenware brand bella® to release a collection of kitchen products, now available exclusively at Target.
The announcement comes as So Yummy prepares to participate in the Food Network South Beach Wine & Food Festival presented by Capital One. Co-Founder Sharon Rechter is slated to host a panel at the festival's FoodieCon® event on Saturday, titled "Clocking Out: From Cubicles to Content." This panel will address the intersection of digital content creation and the food industry.
The Door, established in 2008, specializes in marketing and PR across various sectors, including food and beverage, hospitality, and entertainment. Charlie Dougiello, CEO and Co-Founder of The Door, expressed excitement about the partnership with So Yummy and its innovative approach to digital content.
Dolphin Entertainment's subsidiaries, including The Door, are known for providing strategic marketing and publicity services to prominent brands in entertainment and hospitality. The company's recent ventures include a multi-year agreement with IMAX (NYSE:IMAX) to co-produce feature documentaries.
This news article is based on a press release statement.
InvestingPro Insights
As Dolphin Entertainment, Inc. (NASDAQ:DLPN) expands its portfolio with the addition of So Yummy, investors are closely monitoring the company’s financial health and market performance. The latest data from InvestingPro provides valuable insights into Dolphin's current financial standing:
- The company's market capitalization stands at a modest $22.68 million, reflecting its position in the market as a smaller cap company.
- Dolphin's revenue over the last twelve months as of Q3 2023 reached $42.24 million, with a gross profit margin of an impressive 97.17%.
- Yet, the company faces challenges, with an operating income margin of -13.68% indicating that expenses are outpacing revenues, affecting overall profitability.
InvestingPro Tips reveal some critical concerns for Dolphin Entertainment:
1. The company is not expected to be profitable this year, which aligns with the negative operating income margin observed.
2. Dolphin does not pay a dividend, which might be a consideration for investors seeking regular income from their investments.
For those considering an investment in Dolphin Entertainment, Inc., these insights and additional InvestingPro Tips can be explored further at https://www.investing.com/pro/DLPN. There are a total of 7 InvestingPro Tips available, offering a deeper analysis of the company's financials and market outlook. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, to gain access to these valuable investment insights.
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