Warner Studio Q2 Revenue Up 8%4 Aug, 2010 By: Erik Gruenwedel
Strong theatrical revenue from Clash of the Titans and Sex and the City 2 contributed to Time Warner Inc.’s filmed entertainment segment reporting second-quarter revenue of $2.5 billion, up 8% from revenue of $2.3 billion during the previous-year period.
For filmed entertainment, which includes Warner Bros. Studios and Warner Home Video, the revenue increase was the largest since 2008. The studio last week announced it was the first to surpass $1 billion in domestic box office for the 10th straight year.
The quarterly results do not include the July 16 release of Inception, the No. 1 box office sci-fi thriller starring Leonardo DiCaprio from director Christopher Nolan that has generated more than $197 million in domestic ticket sales ($369 million globally) through Aug. 2. With its mind-bending special effects and complex storyline, Inception is expected to generate strong DVD/Blu-ray Disc sales when released later this year.
Adjusted operating income for the studio was down slightly at $173 million, compared with adjusted operating income of $176 million last year. Without ongoing restructuring charges, studio operating income would have increased nearly 21%.