Theatrical a Fiscal Juggernaut for Fox6 Aug, 2014 By: Erik Gruenwedel
20th Century Fox defies industrywide box office softness
21st Century Fox Aug. 6 said its 20th Century Fox Studios nearly tripled fourth-quarter (ended June 30) operating income of $339 million, from $117 million during the prior-year period. In doing so, the studio, which includes 20th Century Fox Home Entertainment, continues to successfully negate a sluggish box office that has heretofore undermined other studios.
Fox, which is the first studio to cross the $3 billion global box office threshold in 2014, saw a $768 million, or 38%, revenue increase in the quarter due in part to worldwide theatrical releases that included X-Men: Days of Future Past, which has grossed $740 million at the global box office to date, Rio 2, which has grossed over $490 million in worldwide box office, and The Fault in Our Stars, which has grossed over $260 million in worldwide box office to date.
Fox ranks first among domestic studios at the box office with 18.1% market share through Aug. 3 with more than $1.1 billion in ticket sales. X-Men: Days of Future Past remains Fox's top-grossing movie of the year with more than $231 million in ticket sales.
The results also reflect higher contributions from the television production businesses led by the syndication of “Modern Family” and the delivery of a new season of “24.”
Fiscal-year operating income inched up 4% ($50 million) to $1.36 billion compared with the previous-year period. The results reflect higher contributions from the television production businesses led by higher SVOD revenue, including the sale of series to Amazon Prime Instant Video, and the syndication of “Modern Family.” This growth was partially offset by difficult comparisons to the successful worldwide theatrical performance of Ice Age: Continental Drift in the prior year.