Ahoy Captain Cats here and today we have some news to report about comic book publisher IDW.
According to Bleeding Cool that publisher IDW reported a loss of $26.4 million back in 2019. In a fourth-quarter report from IDW, it was stated that IDW Media Holdings, a former subsidiary of IDT Corporation in which IDW Publishing, IDW Entertainment, and CTM Media Group are all under this banner, lost $26.4 million on revenue. In case you are wondering this is how it all adds up:
IDW Publishing lost $5.2 million in 2019
IDW Entertainment lost $19.8 million in 2019
CTM lost $1.3 million in 2019
In a released statement IDW Media Holding Chairman and CEO Howard Jonas believes that IDW can turn a profit in 2021, but would it be too late for IDW? We reported last year that in the past 2 years 5 CEO left IDW and it looks like they need to fix this situation a lot sooner before more bad news will fall upon them.