Viacom Posts Decrease in Home Entertainment Revenue24 Feb, 2005 By: Holly J. Wagner
Viacom, which includes Paramount Pictures and Paramount Home Entertainment, blamed lower home entertainment revenue for a 1 percent decrease in its entertainment unit's revenue, to $4.1 billion for 2004.
“Contributions from 2004 titles, including School of Rock and Mean Girls, did not match the success of last year's titles, led by The Adventures of Indiana Jones — The Complete DVD Movie Collection,” according to a company statement.
Entertainment operating income decreased 6 percent, to $254 million, from $271 million, principally due to the revenue decreases. For the fourth quarter, entertainment revenue decreased 9 percent, to $1.2 billion from $1.3 billion, also attributed mainly to lower worldwide home entertainment revenue.
The television unit fared better, with a 10 percent revenue increase, to $8.5 billion from $7.8 billion for the year, mainly on advertising revenue. The DVD releases of Star Trek: Voyager and Star Trek: Original Series helped increase home video revenue for the unit.