Fox Ups Q3 Profit, Revenue Despite Lower SVOD License Revenue6 May, 2015 By: Erik Gruenwedel
Disc sales of 'Penguins of Madagascar' help drive the bottom line
Score one for conventional media.
20th Century Fox Studios May 6 reported an 8% increase in third-quarter (March 31) operating income of $382 million, compared with income of $354 million during the prior-year period. Revenue increased 5% to $2.38 billion, from revenue of $2.27 billion a year ago.
Fox Studios, which includes 20th Century Fox Home Entertainment, said revenue was partially offset by year-over-year comparisons with licensing of several TV series to Amazon Prime Instant Video.
Nonetheless, the studio said theatrical and home entertainment revenue from DreamWorks Animation's Penguins of Madagascar, 2014 releases Rio 2 and The Fault in Our Stars, as well as theatrical contributions from Taken 3 and Kingsman: The Secret Service upped the bottom line with global box office revenue of $326 million and $401 million, respectively. Fox distributes DWA titles.
Taken 3 was released at retail April 21, while Kingsman streets June 9.
Penguins of Madagascar generated $374 million at the global box office since its Nov. 26, 2014, debut. The title has sold $8.5 million in Blu-ray Disc and $6.9 million in DVD units since its March 17 retail release, according to The-Numbers.com.