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DreamWorks Animation Returns to Profitability

3 Aug, 2016 By: Erik Gruenwedel

DreamWorks Animation, which has been acquired by Comcast pending regulatory approval, Aug. 3 reported second-quarter (ended June 30) profit of $2.3 million, compared with a loss of $38.5 million during the previous-year period. Revenue topped $220 million, compared with more than $170 million a year ago.

Theatrical revenue was driven by Kung Fu Panda 3 ($28 million), which has generated $143.5 million at the domestic box office ($519.9 million globally) since its Jan. 29 box office debut.

Panda 3 was released on disc June 28, and through June 30 had sold 1.6 million discs globally. Previous releases Home and The Penguins of Madagascar generated disc sales of 7.1 million and 4.7 million, respectively, worldwide, net of actual and estimated future returns.

Home contributed $4 million, or 1.8%, of consolidated revenue primarily earned in the international television and worldwide home entertainment markets. The Penguins of Madagascar contributed $1.9 million, or 0.9%, of consolidated revenue, primarily earned in the worldwide home entertainment markets.

Library titles generated $63.9 million in revenue — all via packaged media and digital.

Revenue generated from TV productions increased $17 million, or 31%, to $71.8 million, compared with $54.8 million in the previous-year period. Primary drivers included “Dragons Race to the Edge,” “Dawn of the Croods,” “The Mr. Peabody and Sherman Show” and “All Hail King Julien.”

Finally, new-media revenue, which includes licensing content to OTT video and SVOD, increased $13 million, or 89%, to $27.6 million, compared with $14.6 million a year ago. This increase was primarily attributable to the delivery of a higher amount of newly created content.

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