MGM Reports 9% Decline in 2016 Home Entertainment Revenue

8 Mar, 2017 By: Erik Gruenwedel

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MGM Holdings, which includes Metro-Goldwyn-Mayer Studios, reported a 9% decline in home entertainment sales for the fiscal period ended Dec. 31, 2016, compared with the previous-year period ended in 2015.

Sales of theatrical titles topped $206.4 million, from $225.7 million in 2015. Revenue was driven by the worldwide packaged-media release of Spectre, and underscored by strong electronic sellthrough in the United States and United Kingdom. By comparison, 2015 included revenue from the global release of The Hobbit: The Battle of the Five Armies with Warner Bros. Home Entertainment and revenue from home entertainment sales of the "James Bond" catalog.

Spectre generated $35.7 million in disc sales to finish as the 11th best-selling packaged-media release in 2016. The Hobbit: The Battle of the Five Armies more than doubled that with $75 million in disc sales to finish as the 9th best-selling disc in 2015, according to The-Numbers.com.

Home entertainment and related revenue for television content topped $33.6 million, a decrease of $3.7 million from $37.3 million in 2015.

MGM titles and co-productions are also distributed in retail channels globally by 20th Century Fox Home Entertainment in an agreement that expires in 2020. Paramount Home Media Distribution marketed Ben-Hur and Hot Tub Time Machine 2. Sony Pictures Home Entertainment distributes the "Jump Street" franchise and The Magnificent Seven, while Warner distributed Creed, Max, Barbershop: The Next Cut, Hot Pursuit, How to Be Single and Me Before You.

 

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