Starz Distribution Ups Q1 Profit30 Apr, 2015 By: Erik Gruenwedel
Starz Distribution April 30 reported first-quarter (ended March 31) pre-tax operating income of $26.4 million, up $13.7 million (108%) from pre-tax operating income of $12.7 million during the previous-year period. Revenue increased 25% ($22.4 million) to $109.7 million, due largely to licensing certain Starz Original titles to Netflix and Amazon Prime Instant Video.
"Our programming slate is ... on track to have an expected 75 to 80 episodes of new originals this year. The reception we are seeing for Starz Original series bodes very well for our efforts to fortify distribution relationships, and to build Starz's presence overseas, as underscored by the launch of the Starz Play Arabia over-the-top service," CEO Chris Albrecht said in a statement.
Starz Distribution, which includes Anchor Bay Home Entertainment, reported home video revenue of $34.9 million — down nearly 39% from revenue of $56.7 million a year ago. Cash paid for investment in films and television programs increased $15.6 million to $39.6 million due to timing of payments for Weinstein titles.