Pixar Reports <I>Monsters, Inc.</I> Tally of 30.4M Units10 Feb, 2003 By: Joan Villa
Driven by the success of Monsters, Inc. and a growing film library, Pixar Animation Studios doubled fourth-quarter revenue to $39.4 million and earned $17 million for the quarter ended Dec. 28, 2002, up 30 percent from the year-earlier period.
For full-year 2002, Pixar earned $90 million on revenue of $201.7 million. Monsters, Inc. generated a total $141.5 million in revenue across all categories, selling a total 30.4 million video units, comprising 8.6 million VHS and 11.4 million DVDs domestically and 6.7 million VHS and 3.7 million DVDs internationally.
On an earnings call with analysts, chairman and CEO Steve Jobs promised “jaw-dropping” animation on Finding Nemo, due in theaters May 30 accompanied by a teaser trailer for Pixar's following film, The Incredibles. Nemo will be released to home video in the fourth quarter and will begin a holiday box office run in Europe, he added.
Jobs also admitted that Pixar is shopping for a film distributor after its deal with Disney expires upon delivery of Cars in 2005.
“While our first choice remains to continue our relationship with Disney in a new form, it is far from certain at this point,” Jobs said. “We have the luxury of taking our time and evaluating the options we have.”