Welcome to our dedicated page for Alliance Entertainment Holding Corporation news (Ticker: AENT), a resource for investors and traders seeking the latest updates and insights on Alliance Entertainment Holding Corporation stock.
Alliance Entertainment Holding Corporation (NASDAQ: AENT) is a premier global distributor and wholesaler specializing in music, movies, video games, electronics, arcades, toys, and collectibles. With over 35 years of distribution experience, the company offers a vast catalog of 325,000 unique in-stock SKUs, including 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Beyond media, Alliance also stocks a full array of related accessories, toys, and collectibles.
Alliance Entertainment serves customers of all sizes, providing a comprehensive suite of services to resellers and retailers worldwide. The company's efficient processing and essential seller tools significantly reduce the administrative costs associated with managing multiple vendor relationships. These tools also assist omni-channel retailers in expanding their product selection and fulfillment goals.
Recently, Alliance Entertainment announced several significant developments:
- Financial Performance: The company reported strong financial results for Q2 FY 2024, including net revenues of $425.6 million and a gross profit increase of 128% to $47.7 million.
- Technological Advancements: Alliance installed Sure Sort® X, a cost-saving sortation technology, at its Kentucky facility, expected to save $400,000 annually in labor costs.
- Partnerships and Collaborations: The company extended its partnership with Cineverse Corp and Tsuburaya Fields Media & Pictures Entertainment, further expanding its distribution network and product offerings.
- Strategic Moves: Alliance has been highly focused on reducing inventory and debt, with significant year-over-year decreases in both.
Additionally, Alliance's AMPED Distribution arm has been active in launching new music releases, such as the highly anticipated album 'Coming Home' by Usher, aligning with major events like the Super Bowl. The company's participation in Record Store Day 2024 also set new sales records, driven by high-profile releases from artists like Taylor Swift and Pearl Jam.
For more information, visit www.aent.com.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) announced the closing of a new 3-year $120 million senior secured asset-based credit facility with White Oak Commercial Finance, LLC. The credit facility replaces the Company’s revolver with Bank of America and includes a $120 million asset-based revolving credit facility. The Revolver will bear interest at a rate of the 30-day SOFR plus 4.5%. The funds will be used to retire the existing credit facility, fund working capital needs, and provide for general corporate purposes. The CEO & CFO, Jeff Walker, stated that the company will be entering 2024 with lowering borrowing needs and elected to reduce their line to control costs. Chairman Bruce Ogilvie highlighted the strategic plans including investments in automating facilities and upgrading proprietary software, improvements which they believe will improve EBITDA and inventory turns. The company aims to lower its cost of capital to improve competitiveness and increase its ability to deploy capital for accretive growth.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) had a momentous year, with its independent music distribution arm, AMPED Distribution, achieving a record-breaking 24 Grammy nominations for 19 artists. The company's commitment to championing independent music and empowering artists to succeed is reflected in this achievement.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) assisted K-Pop band ATEEZ in achieving their first US number-one album, 'THE WORLD EP.FIN : WILL', with a groundbreaking 96% of total sales coming from physical CDs and vinyl. AMPED Distribution, a subsidiary of Alliance Entertainment, played a key role in distributing the albums to major retailers and indie record stores, showcasing the growing influence of K-Pop in the US market. The success of ATEEZ's album highlights the dedicated fanbase and the significant impact of physical album sales in the music industry.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) has announced a partnership with Grail Game to create a new sales channel and mystery box experiences for collectors. Grail Game's state-of-the-art hashrate system ensures provably fair games, with the recent launch of a mystery box that included a 'Hunt 4 Planet Arlia Vegeta' Funko POP! valued at $5,160. The partnership aims to provide collectors with unique and engaging content-driven gameplay, expanding into highly sought-after Vinyl Record, KPOP, and gaming items.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) announced a partnership between its independent distribution arm AMPED Distribution and Vydia, to expand Vydia’s capabilities for physical distribution. Vydia, an all-in-one platform for audio and video distribution, will now add physical distribution services to its existing online revenue management solutions for labels, utilizing AMPED’s distribution network. This partnership aims to provide artists with efficient control over physical direct-to-store fulfillment, allowing them to monetize their music and videos through sales of CDs and Vinyl.
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Alliance Entertainment Holding Corporation (AENT) has announced the launch of a new publishing venture, Alliance Entertainment Publications, to create and release high-quality, full-color, fan-focused Collectible Magazines. The magazines will be distributed through various channels and sold under Alliance Entertainment-owned entities, such as Movies Unlimited, Critics’ Choice Video, and Collectors’ Choice Music.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) announced the successful release of THE BLIND, which grossed over $17 million in box office sales and hit #1 in pre-sales on Amazon. The film also achieved #1 in overall DVD sales and Faith/Spirituality categories. With a 99% Rotten Tomatoes Audience Score, THE BLIND delivered an impressive $4.3 million in ticket sales opening weekend and prompted a 100% spike in physical disc pre-order quantity. The film shares never-before-revealed moments in Phil Robertson's life and is available now on Digital, DVD, and Blu-ray™ for $19.99.
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Alliance Entertainment Holding Corporation (Nasdaq: AENT) reported Q1 FY 2024 net revenues of $226.8 million, a 5% decrease, with a positive adjusted EBITDA of $1.3 million. The company secured a $150 million credit facility, expanded partnerships, and announced exclusive content releases. Despite decreased revenues, gross profit increased by 3% to $26.3 million, driven by a profitable sales strategy.
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Alliance Entertainment Holding Corporation has regained compliance with Nasdaq Listing Rule 5250(c)(1) by filing its annual report on Form 10-K for the year ended June 30, 2023. The Company received a written notice from the Listing Qualifications Department of Nasdaq confirming its compliance.
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Alliance Entertainment Holding Corporation has reported its financial and operational results for the fiscal fourth quarter and year ended June 30, 2023. Net revenues for the fourth quarter were $247.1 million, a decrease of 7% compared to the same period in 2022. Gross profit for the fourth quarter was $30.2 million, an increase of 6% compared to the same period in 2022. Net loss for the fourth quarter was $1.7 million. For the year ended June 30, 2023, net revenues were $1.2 billion, a decrease of 18% compared to the previous year. Gross profit for the year was $103.9 million, and net loss was $32.5 million.
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FAQ
What is the current stock price of Alliance Entertainment Holding Corporation (AENT)?
The current stock price of Alliance Entertainment Holding Corporation (AENT) is $6.68 as of December 20, 2024.
What is the market cap of Alliance Entertainment Holding Corporation (AENT)?
The market cap of Alliance Entertainment Holding Corporation (AENT) is approximately 300.8M.
What products does Alliance Entertainment distribute?
Alliance Entertainment distributes a wide range of products including music, movies, video games, electronics, arcades, toys, and collectibles.
How many SKUs does Alliance Entertainment offer?
Alliance Entertainment offers over 325,000 unique in-stock SKUs, including 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games.
What recent technological advancements has Alliance Entertainment made?
Alliance Entertainment has installed Sure Sort® X, a cost-saving sortation technology, at its Kentucky facility, saving approximately $400,000 annually in labor costs.
Which high-profile album release was recently managed by Alliance's AMPED Distribution?
AMPED Distribution managed the release of the highly anticipated album 'Coming Home' by Usher.
What financial results did Alliance Entertainment report for Q2 FY 2024?
For Q2 FY 2024, Alliance Entertainment reported net revenues of $425.6 million and a gross profit increase of 128% to $47.7 million.
What are some of the partnerships Alliance Entertainment has recently extended?
Alliance Entertainment has extended partnerships with Cineverse Corp and Tsuburaya Fields Media & Pictures Entertainment.
How has Alliance Entertainment performed in Record Store Day 2024?
Alliance Entertainment set new sales records during Record Store Day 2024, driven by high-profile releases from Taylor Swift and Pearl Jam.
What services does Alliance Entertainment provide to resellers and retailers?
Alliance Entertainment provides efficient processing and essential seller tools, significantly reducing administrative costs and assisting omni-channel retailers in expanding their product selection and fulfillment goals.
How has Alliance Entertainment focused on improving its financial health?
Alliance Entertainment has been focused on reducing inventory and debt significantly over the past year.
Where can I find more information about Alliance Entertainment?
More information can be found on their website at www.aent.com.
Alliance Entertainment Holding Corporation
Nasdaq:AENT
AENT Rankings
AENT Stock Data
300.80M
3.12M
93.83%
0.29%
0.11%
Entertainment
Wholesale-durable Goods, Nec
United States of America
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