Strong Video Sales Boost VUE Unit's Q1 Revenue5 May, 2004 By: Erik Gruenwedel
Video sales of such titles as American Wedding, Dr. Seuss' The Cat in the Hat, The Rundown, Intolerable Cruelty and Lost in Translation, which contributed to a 35 percent increase in revenue for Universal Pictures Group, helped Vivendi Universal Entertainment (VUE) post first-quarter revenue of nearly 1.5 billion euros ($1.8 billion) for the period ended March 31.
VUE, a unit of Paris-based Vivendi Universal (VU), posted revenue of 1.44 billion euros ($1.7 billion) during the same period last year, largely on the video sales of 8 Mile, The Bourne Identity and About A Boy.
In a related matter, “significant inventory disposal sales made in early 2003” contributed to Vivendi Universal Games revenue dropping 27 percent, to 77 million euros ($93.7 million), from 106 million euros ($129 million) during the same period last year.
Overall, VU revenue fell 4 percent, to 5.9 billion euros ($7.2 billion), from 6.2 billon euros ($7.5 billion) last year.