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Warner Ups Q3 Home Entertainment Revenue 15%

26 Oct, 2017 By: Erik Gruenwedel

Warner Bros. Home Entertainment Oct. 26 reported third-quarter (ended Sept. 30) revenue of $424 million from sales of theatrical product, up 15% from revenue of $368 million during the previous-year period. Revenue included DVD, Blu-ray Disc and electronic sellthrough.

The studio said retail sales of television product declined 27% to $98 million, from $134 million.

Through Sept. 30, retail sales of theatrical product have topped $1.1 billion, up nearly 25% from $910 million a year ago.

Indeed, home entertainment revenue helped Warner increase overall revenue 2% ($58 million) to $3.5 billion. Studio operating income increased 26% ($110 million) to $538 million due to higher revenue from theatrical horror releases It and Annabelle: Creation, in addition to lower print and advertising costs as a result of fewer releases.

Annabelle: Creation, which streeted Oct. 24, generated $303 million at the global box office on a production budget of just $15 million.

The latest adaption of Stephen King’s novel, It has generated more than $650 million globally at the box office on a budget of $35 million. The movie is getting an expanded theatrical release through Halloween.

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