Without 'Sniper' Cover, Warner Home Video Q2 Revenue Plummets3 Aug, 2016 By: Erik Gruenwedel
Warner Home Video Aug. 3 reported second-quarter (ended June 30) revenue of $221 million from sales of physical and digital theatrical movies, down 52% from revenue of $461 million during the previous-year period.
For the first six months of the year, theatrical disc and Digital HD revenue is down 35% to $542 million, compared with $830 million during the previous-year period.
Revenue from retail sales (physical and digital) of TV programming dropped about 8% to $85 million, from $92 million. Through June 30, TV retail revenue is off about 10% at $179 million, compared with $198 million a year ago.
“We had fewer theatrical home video releases and a very difficult comparison against American Sniper and carryover revenue from the final installment of The Hobbit: The Battle of the Five Armies. So as expected, both revenue and adjusted operating income declined in the quarter,” Time Warner CFO Howard Averill said on the fiscal call.
Indeed, American Sniper sold almost 4.3 million combined DVD/Blu-ray Disc units for more than $73.5 million in revenue, according to The-Numbers.com. The Hobbit: The Battle of the Five Armies generated $70.2 million on sales of more than 3.3 million discs.
This year, WHV’s biggest release through June 30 is Creed, director Ryan Coogler’s critically acclaimed boxing movie spinoff of the "Rocky" franchise, with disc sales approaching $20 million. HBO’s Game of Thrones: The Complete Fifth Season has sold more than 775,000 discs for $28 million.