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Sony Ups Q1 Home Entertainment Revenue 10%

1 Aug, 2017 By: Erik Gruenwedel

Spurred by residual retail sales of Ghostbusters: Answer the Call, Sony Pictures Home Entertainment reported first-quarter (ended June 30) revenue of $199 million, up 10% from revenue of $181 million during the previous-year period.

Released on disc last October, Ghostbusters has generated nearly $37 million in combined DVD/Blu-ray Disc sales, including $2.4 million this year, according to The-Numbers.com.

Top titles (theatrical, TV and direct-to-video) released into retail channels in the quarter included Brimstone (April 11); Underworld: Blood Wars; The Marine 5: Battleground (April 25); The Comedian; The Red Turtle (May 2); Resident Evil: The Final Chapter (May 16); Outsiders: Season 2 (May 23); Kill ‘Em All (June 6); Life (June 20); and T2 Trainspotting (June 27).

Meanwhile, Sony Pictures lowered its operating loss 13% to $86 million, from $99 million a year ago. Revenue increased 9.2% to $1.8 billion, from $1.7 billion.

The increase in sales was primarily due to higher revenue from TV productions and media networks, partially offset by lower revenue from movies. TV sales increased due to higher licensing revenue for U.S. television series, including “The Last Tycoon” and “Better Call Saul.” Sales for media networks increased due to higher advertising revenue in India. The decrease in movie revenue was due to lower worldwide theatrical revenue compared with the same quarter in the previous year — which benefitted from the worldwide box office of The Angry Birds Movie.

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