Log in

Paramount Q4 Home Entertainment Revenue Dips Slightly

16 Nov, 2017 By: Erik Gruenwedel

Paramount Home Media Distribution Nov. 16 reported fourth-quarter (ended Sept. 30) revenue of $190 million, down 4.5% from revenue of $199 million during the previous-year period. The studio ended the fiscal year with $849 million in revenue, which was up more than 8% from $783 million a year ago.

Paramount attributed the quarterly decline to lower international home entertainment sales. Domestic home revenue increased 3%, while international home revenue fell 16%.

For the year, home entertainment revenue improved 8%, principally reflecting higher Teenage Mutant Ninja Turtles: Out of the Shadows carryover revenue, as well as catalog sales. Domestic and international home entertainment revenue increased 11% and 3%, respectively.

Overall, Paramount reported an operating loss of $43 million, which was 69% improvement over the prior-year quarter, reflecting lower operating expense and increased revenue. The operating loss includes the impact of a previously disclosed $59 million expense related to the termination of a slate financing agreement with Chinese investors.

Theatrical revenue decreased 43% to $115 million, primarily due to a comparison with the strong performance of Star Trek Beyond in the prior-year quarter. Domestic theatrical revenue declined 75% while international theatrical revenues declined 12%.

“Paramount is demonstrating growth across multiple revenue streams as it rebuilds the theatrical slate and continues to grow its TV production business,” Bob Bakish, CEO of corporate parent Viacom, said in a statement.

Add Comment