The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Allen Klee - Maxim Group, LLC - Analyst
: Yes, hi. Congratulations on a very strong quarter that handily beat my estimates. Couple of questions. Starting with Blue Angels, you said that it
added $3.4 million of revenues. I missed what you said about what the production costs were, but could you give just -- based on the contractual
amount that you're expected to get, what's the incremental amount that you can get and the cost that you would expect in the next quarter or
two?
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MAY 14, 2024 / 8:30PM, DLPN.OQ - Q1 2024 Dolphin Entertainment Inc Earnings Call
Question: Allen Klee - Maxim Group, LLC - Analyst
: Are you able to say how many institutional theaters you're hoping or you are contracted with IMAX for?
Question: Allen Klee - Maxim Group, LLC - Analyst
: That's great. So if I -- your revenue was -- if I take your revenue, which is $15.2 million and if I take out Blue Angels, you are still -- it was still like a
$11.8 million, (multiple speakers) where would you highlight was outperformance and maybe (multiple speakers) -- go ahead, sorry.
Question: Allen Klee - Maxim Group, LLC - Analyst
: Thank you. So the digital department, which is social influencing, I think 4Q is the strongest, but then maybe it usually drops off in 1Q. But you've
added these two new verticals, skin care and young adults. I'm wondering maybe how that -- how you think about those two new areas of how
meaningful they could potentially be?
Question: Allen Klee - Maxim Group, LLC - Analyst
: That's great. Could you -- for Staple Gin, can you talk a little? I think, you said you're partnered with The Door, and they have their own -- and there's
another partner. Just what's going on, on the marketing side and how you feel about that?
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MAY 14, 2024 / 8:30PM, DLPN.OQ - Q1 2024 Dolphin Entertainment Inc Earnings Call
Question: Allen Klee - Maxim Group, LLC - Analyst
: That's great. How do you feel about the ability of manufacturing and distribution? And where will it be in retail in New York?
Question: Allen Klee - Maxim Group, LLC - Analyst
: That's great. If I look at your different companies that you own and the divisions, I think I heard you say that your movies and acting was strong,
and you are strong within Blue Angels. As we think just seasonally, is there any reason to think that any of the segments might show some seasonality
in the next two quarters compared to this quarter? Or do you think it's kind of like steady type of growth?
Question: Allen Klee - Maxim Group, LLC - Analyst
: Thank you. I have a financial question. If I look at what you did for operating expenses in 1Q, are there any areas that are overall you think we should
think about that might go up or down as we go out -- go through the year?
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MAY 14, 2024 / 8:30PM, DLPN.OQ - Q1 2024 Dolphin Entertainment Inc Earnings Call
Question: Allen Klee - Maxim Group, LLC - Analyst
: That amortization of the deferred costs, that happens over what time period?
Question: Allen Klee - Maxim Group, LLC - Analyst
: Does this get added back to adjusted operating income?
Question: Allen Klee - Maxim Group, LLC - Analyst
: But it's a non-cash cost or it's a cost to --
Question: Allen Klee - Maxim Group, LLC - Analyst
: Okay. So you had invested over $2 million, and you recognized $1.48 million of the amortization this quarter, and the rest of it will be over whatever
the live is of the assumed life of the project?
Question: Allen Klee - Maxim Group, LLC - Analyst
: Okay. Got it. So just let me wrap up on a couple of other things. I'm thinking just in terms of how you're thinking about maybe -- do you think this
year you might potentially identify the next Blue Angels type of partnership with IMAX?
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MAY 14, 2024 / 8:30PM, DLPN.OQ - Q1 2024 Dolphin Entertainment Inc Earnings Call
And then Special Projects, how do you think about like how that business is going to go going forward? And just how you feel generically about
additional ventures that you could make investments in '24?
Question: Allen Klee - Maxim Group, LLC - Analyst
: Okay, great. Well, thank you so much.
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