MGM Q2 Home Entertainment Revenue Plummets 69%21 Aug, 2017 By: Erik Gruenwedel
MGM reported second-quarter (ended June 30) home entertainment revenue from theatrical content of $18.8 million, which was down 69% ($42.8 million), from $61.6 million in the previous-year period.
The studio, whose DVD and Blu-ray Disc releases are distributed by 20th Century Fox Home Entertainment, Warner Bros. Home Entertainment and Sony Pictures Home Entertainment (depending on the title), attributed the decline in large part to the prior-year’s second-quarter continued worldwide distribution of Spectre, which began in the first quarter, as well as electronic sellthrough revenue for Creed, ongoing revenue from other recently released films, plus the tail-end of worldwide home entertainment promotion for the "James Bond" franchise.
Indeed, Spectre and Creed ranked 13th and 21st, respectively, as best-selling combiend DVD, Blu-ray Disc titles in 2016, according to .
In comparison, the current year’s Q2 primarily included ongoing revenue from Spectre, The Hobbit trilogy and library content.
Home entertainment revenue from TV product declined 32% to more than $4.7 million, compared with $7 million a year ago. The decrease reflected lower physical revenue for scripted television content.
Separately, MGM reported revenue of $56.9 million from Epix following acquisition of the multi-level video distributor earlier this year from corporate partners Viacom, Paramount Pictures and Lionsgate.