Marvel Touts DVD Success24 Feb, 2009 By: Chris Tribbey
DVD sales of The Incredible Hulk and Iron Man boosted Marvel Entertainment to a profit of $63 million during the fourth quarter of 2008 (ended Dec. 31), more than double the $27.6 million in profit the company reported in the prior-year period.
“Despite the negative comments we have heard regarding retail sales performance within the DVD market … both The Incredible Hulk and Iron Man DVDs have been performing at or above our expectations,” said CFO Kenneth West in a conference call with investors Feb. 24.
Worldwide, West said Iron Man home entertainment sales (via Paramount) contributed $190 million in revenue during the quarter, with Hulk (via Universal) adding another $14 million. He said a majority of Hulk DVD revenue would be reported in 2009. He did not offer a break-down between DVD and Blu-ray Disc for either title.
“We have been told that many other DVD titles are generating sales that are below expectations anywhere from 10% to 30% or more,” he said. “We believe that our strong performance is related to the quality of the films that we produce … and the excellent marketing job done by our distribution partners.”