Revenue Down at Universal Pictures10 Feb, 2003 By: Hive News
Revenue at Universal Pictures dropped 8 percent from 2001 as that year's home video release slate proved a tough act to follow.
Theatrical performance from titles like Red Dragon and 8 Milehelped offset the home video decline. The unit posted E1,029 million in revenue for the fourth quarter of 2002, compared to E1,185 million in the 2001 fourth quarter. Full-year revenues for the unit were E3,877 million, compared to E3,615 for full-year 2001.
The 2002 home video release slate included The Scorpion King and E.T. The Extraterrestrial 20th anniversary edition, while 2001 highlights included The Mummy Returns, Dr. Seuss' How the Grinch Stole Christmas and Jurassic Park III.
Games also helped Vivendi Universal's corporate bottom line, with a 2 percent revenue increase for the fourth quarter and a 7 percent increase for the year. Among the label's more popular titles were Lord of the Rings: The Fellowship of the Ring., Barbie as Rapunzel and Spyro the Dragon: Enter the Dragonfly.
The company plans to release its unaudited earnings March 6.