Petty added that Blackmagic Design had aggressively increased its investment in new products during the last financial year, working on multiple new technologies. “However, if you draw a line through this surge by looking at growth from the 2019 financial year to the 2022 financial year, it is easy to see that our revenue is still substantially higher,” said Petty.
When the lockdowns eased, staff moved back to TV studios and home studio equipment was no longer needed. Many broadcasters also upgraded in-house studios during lockdowns. In a directors’ report, dated 19 January 2023, Blackmagic Design chief executive Grant Petty said sales had surged in the previous financial year as broadcasters installed small home studios to remain on air during Covid lockdowns. Blackmagic Design’s post-tax profits dropped to A$44.7m – less than a third of the A$153m seen in the previous financial year – while revenue declined from A$769m to A$616m.īut there was more to this setback than shortages. These shortages contributed to a fall in profits and revenue in the year ended 30 June 2022.
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