Daily Variety reports that German animation entity TV-Loonland lost $2.6 million in revenues and endured a 42% drop in sales during the first half of the year. The company reportedly blamed the sagging performance on a lack of investments from TV broadcasters.
Last year, TV-Loonland saw a profit of $510,000. It points to pressure within the industry to keep content prices down as a reason for losses during the first six months of 2004.
TV-Loonland will be at MIPCOM in October promoting its animate feature, Heidi, and the quirky cartoon series The Cramp Twins. The company is optimistic that sales for these properties and others in its library will turn things around for the content provider.