Fast Cars and Dinos Help Universal Post Huge Q223 Jul, 2015 By: Erik Gruenwedel
Good thing dinosaurs aren’t extinct at the box office.
Universal Pictures July 23 reported second-quarter (ended June 30) operating cash flow of $422 million, which was up $227 million (117%) from the prior-year period. Revenue topped $2.2 billion, up nearly 93% ($1 billion) from a year ago.
The studio, which includes Universal Pictures Home Entertainment, attributed its record quarter to the fiscal box office largess of Furious 7 and Jurassic World — the latter released just 18 days before the end of the quarter.
Both titles should track well when released at retail later this year. Indeed, retail sales of Fifty Shades of Grey rank No. 4 in combined disc sales this year with $50 million in revenue since its May 8 release, according to The-Numbers.com.
Universal ended the quarter as the top-grossing (domestic and global) studio, and the first to reach $3 billion at the worldwide box office.
It’s quite a turnaround from 2014 when Universal topped $1.1 billion in box office sales for the entire year, driven by 'R'-rated comedies Neighbors and Ride Along. Both titles paled in comparison to Scarlett Johannson’s Lucy, which topped $450 million — largely at the global box office.
The title currently sits in 11th place in combined disc sales this year with $25.7 million in revenue since its Jan. 20 street date.