Fox Q4 Operating Income Declines 16.5%6 Aug, 2013 By: Erik Gruenwedel
Home entertainment holds its own supplanting lower TV production revenue
Twentieth Century Fox Studios Aug. 6 reported fourth-quarter (ended June 30) operating income of $117 million, which was down 16.5% from operating income of $140 million during the previous-year period. Revenue topped $2 billion compared with $1.9 billion last year.
The studio, which is a unit of 21st Century Fox, said the decline in operating profit was primarily due to lower contributions from television production, as a provision for library content more than offset the revenues related to the delivery of the new season of “Arrested Development” to Netflix.
Quarterly results included the successful theatrical performance of DreamWorks Animation’s The Croods (which has grossed $582.9 million in worldwide box office), the home entertainment performance of Life of Pi and the pay-TV availabilities of Ice Age: Continental Drift and Prometheus, as well as the theatrical pre-release costs for The Wolverine and DreamWorks Animation’s Turbo.
Fiscal-year results were led by the strong worldwide theatrical and home entertainment performance, as well as the pay-TV availability of Ice Age: Continental Drift.
The current-year results also include the successful worldwide theatrical and home entertainment performances of Taken 2, Prometheus and Life of Pi, as well as the pay-tv availability of Alvin and the Chipmunks: Chipwrecked and Chronicle.
Prior-year film results were led by the home entertainment release and pay-tv availability of Rio and X-Men: First Class, as well as the theatrical and home entertainment release and pay-tv availability of Rise of the Planet of the Apes.