Time Warner CFO: Home Entertainment Industry Up Over Second Half of 201429 Apr, 2015 By: Erik Gruenwedel
Earlier electronic sellthrough access to new-release movies helped soften first-quarter home entertainment industry revenue declines, including surpassing second-half year results in 2014, Time Warner CFO Howard Averill said on the media company’s April 29 fiscal call.
Averill said EST revenue increased 30% in the quarter compared with the prior-year period. Industrywide electronic sellthrough (EST) spending rose 22% in the quarter compared with the same period in 2014, topping $430 million.
Total U.S. home entertainment spending was $4.6 billion for the first quarter, up slightly over the same period 2014 and outpacing the box office value on video release by about 3%.
“That’s a modest improvement from the trends we saw in the second half of last year,” Averill said.
Warner Bros. Home Entertainment Group reported revenue from packaged media and digital distribution of movies of $369 million, down 3.5% from revenue of $382 million during the previous-year period.
WBHEG, which includes Warner Home Video, saw revenue from television product drop nearly 7% to $106 million.