Exhibit 99.1

Dolphin Reports 20% Year-Over-Year Revenue Growth to $51.7 Million and Full-Year Positive Adjusted Operating Income for Fiscal Year 2024

Miami, FL – Dolphin (NASDAQ: DLPN), a leading entertainment marketing and content production company, today announced its financial results for the fourth quarter and full year ended December 31, 2024.

"We had a very strong 2024. Our revenues went from a little over $43 million in 2023 to a little under $52 million in 2024. We went from adjusted operating loss of more than $2 million in 2023 to adjusted operating income of over $0.9 million in 2024; an increase of approximately $3.0 million in adjusted operating income.” said Bill O'Dowd, CEO of Dolphin. "While Q4 reflected short-term investments in growth initiatives, principally Always Alpha, along with opportunistic hiring at The Digital Dept., these steps position us for sustainable growth and profitability in the coming years.

As we move ahead in 2025, we are proud of the foundation we have built. The initial vision of an entertainment marketing powerhouse has been realized. And with industry recognition such as being named '2025 Agency of the Year' by Observer's PR Power List, we believe we are well-positioned to both deliver exceptional value to our shareholders and capitalize on the exciting opportunities ahead.

On a personal note, to underscore that we believe our common stock is deeply undervalued, in the second half of last year, I purchased $100,000 of Dolphin common stock, and I have now started a 10b5-1 plan with an initial allocation of $250,000 to purchase even more shares. This is intended to highlight my confidence in the company’s future and my belief in the significant upside potential of our stock.”

2024 and Recent Highlights

Total revenue for the year ended December 31, 2024, was $51.7 million, an increase of 20% over the same period in 2023.

Adjusted operating income was $0.9 million for the year ended December 31, 2024, as compared to an adjusted operating loss of $2.4 million for the same period in 2023. Operating loss was $10.5 million for the year ended December 31, 2024 as compared to an operating loss of $20.1 million for the year ended December 31, 2023.

Operating expenses for the full year of 2024 were $62.2 million, including depreciation and amortization of $2.4 million and nonrecurring expenses of (i) $6.7 million impairment of goodwill, (ii) $1.3 million to write off notes receivable and (iii) $0.2 million of acquisition-related costs. This compares to operating expenses for the full year of 2023, which were $63.2 million, including depreciation and amortization of $2.3 million and nonrecurring expenses of (i) $9.5 million impairment of goodwill, (ii) $4.1 million to write off notes receivable, (iii) $0.3 million impairment of intangible assets and (iv) $0.1 million of acquisition-related costs.

Net loss for the full year of 2024 was $12.6 million, including depreciation and amortization of $2.4 million, interest expense of $2.1 million, and nonrecurring expenses of (i) $6.7 million impairment of goodwill, (ii) $1.3 million to write off notes receivable and (iii) $0.2 million of acquisition-related costs. This compares to a net loss for the full year of 2023 of $24.4 million, including depreciation and amortization of $2.3 million, interest expense of $2.1 million, and nonrecurring expenses of (i) $9.5 million impairment of goodwill, (ii) $4.1 million to write off notes receivable, (iii) $0.3 million of impairment of intangible assets and (iv) $0.1 million of acquisition-related costs.

Loss per share was $1.22 per share based on 10,306,904 weighted average shares outstanding for the year ended December 31, 2024. Loss per share was $3.39 per share based on 7,206,577 weighted average shares outstanding for the year ended December 31, 2023.

Dolphin

42West

Shore Fire Media

The Door

Elle Communications

The Digital Dept. (TDD)

Always Alpha

Special Projects

Blue Angels

Youngblood

Staple Gin

Conference Call Information

To participate in this event, dial in approximately 5 to 10 minutes before the beginning of the call.

Date: March 27, 2025

Time: 4:30pm ET

Toll Free: 888-506-0062

International: 973-528-0011

Participant Access Code: 760592

Webcast: https://www.webcaster4.com/Webcast/Page/2225/52197

Replay

Toll Free: 877-481-4010

International: 919-882-2331

Replay Passcode: 52197

Webcast Replay: https://www.webcaster4.com/Webcast/Page/2225/52197

ABOUT DOLPHIN

Dolphin (NASDAQ:DLPN) was founded in 1996 by Bill O'Dowd and has evolved from its origins as an Emmy-nominated television, digital and feature film content producer to a company with three dynamic divisions: Dolphin Entertainment, Dolphin Marketing and Dolphin Ventures.

Dolphin Entertainment: This legacy division, where it all began, has a rich history of producing acclaimed television shows, digital content and feature films. With high-profile partners like IMAX and notable projects including The Blue Angels, Dolphin Entertainment continues to set the standard in quality storytelling and innovative content creation.

Dolphin Marketing: Established in 2017, the Marketing division, which was just named by Observer as the 2025 #1 Agency of the Year, is a powerhouse in public relations, influencer marketing, branding strategy, talent booking and special events. Comprising top-tier companies such as 42West, The Door, Shore Fire Media, Elle Communications, Special Projects, The Digital Dept., and Always Alpha, Dolphin Marketing serves a wide range of industries — from entertainment, music and sports to hospitality, fashion and consumer products.

Dolphin Ventures: This division leverages Dolphin's best-in-class cross-marketing acumen and business development relationships to create, launch and/or accelerate innovative ideas and promising products, events and content in our areas of expertise.

Dolphin has also launched "The Pod", a new shareholder loyalty program in partnership with TiiCKER, the world's first and largest shareholder engagement platform. "The Pod" features high-value tiered perks for Dolphin's verified investors, including gift cards and discount codes for brands like Häagen-Dazs, Francis Ford Coppola Wines, Carbone Fine Food, Saysh, and Foster Supply Hospitality. Investors may also receive special access to concerts, movie screenings, and celebrity meet-and-greet opportunities throughout the year.

Dolphin Entertainment shareholders can now visit TiiCKER.com/DLPN to connect their brokerage accounts and claim their perks and VIP experiences.

This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements may address, among other things, Dolphin Entertainment Inc.'s offering of common stock as well as expected financial and operational results and the related assumptions underlying its expected results. These forward-looking statements are distinguished by the use of words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, Dolphin Entertainment's actual results may differ materially from the results discussed in its forward-looking statements. Dolphin Entertainment's forward-looking statements contained herein speak only as of the date of this press release. Factors or events Dolphin Entertainment cannot predict, including those described in the risk factors contained in its filings with the Securities and Exchange Commission, may cause its actual results to differ from those expressed in forward-looking statements. Although Dolphin Entertainment believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved, and Dolphin Entertainment undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

Contact Information

James Carbonara
Partner, Hayden IR
[email protected]
646-755-7412

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

As of December 31, 2024 and 2023

DOLPHIN ENTERTAINMENT, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

For the years ended December 31, 2024 and 2023

Use of Non-GAAP Financial Measures

In order to provide greater transparency regarding our operating performance, the financial results in this press release refer to a non-GAAP financial measure that involves adjustments to GAAP results. Non-GAAP financial measures exclude certain income and/or expense items that management deems are not directly attributable to the Company’s core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance.

Adjusted operating income or loss is defined by Dolphin as (loss) income from operations before: (i) depreciation and amortization, (ii) write-off of assets, (iii) impairment of goodwill or intangible assets, (iv) acquisition costs, (v) employee stock compensation, (vi) change in fair value of contingent consideration, (vii) bad debt expense and (viii) and impairment of capitalized production costs.

Management believes that the presentation of operating results using this non-GAAP financial measure provides useful supplemental information for investors by providing them with the non-GAAP financial measure used by management for financial and operational decision making, planning and forecasting and in managing the business. This non-GAAP financial measure does not replace the presentation of financial information in accordance with U.S. GAAP financial results, should not be considered a measure of liquidity and is unlikely to be comparable to non-GAAP financial measures provided by other companies.

Reconciliation of GAAP loss from operations to non-GAAP income from operations