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Fox 2016-17 Fiscal-Year Theatrical and Home Entertainment Revenue Falls

9 Aug, 2017 By: Stephanie Prange



The filmed entertainment segment of 21st Century Fox posted operating income before depreciation and amortization (OIBDA) of $1.05 billion for the fiscal year (ended June 30), a drop of $34 million from the prior year attributed primarily to a 4% adverse impact from foreign exchange-rate fluctuations. Higher revenue from the television studio was more than offset by lower revenue at the film studio.

The television studio’s revenue increased due to higher subscription video-on-demand licensing led by “Homeland” and The People v. O.J. Simpson: American Crime Story. The film studio’s revenue decline was attributable to difficult theatrical and home entertainment revenue comparisons to the prior year slate, which included Deadpool and The Martian.

For the fourth quarter, the filmed entertainment segment generated an OIBDA loss of $22 million, a $186 million decrease from the $164 million contribution reported in the same period a year ago. The OIBDA decrease in the quarter was principally driven by lower revenue at both the film and television studios. Quarterly segment revenues decreased $235 million to $1.8 billion, primarily reflecting lower home entertainment revenue due to the strong performance of Deadpool in the prior year quarter and lower pay and free television revenue due to the timing of feature film availabilities and fewer deliveries of returning television series.

 


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