Universal Ups Q1 Home Entertainment Revenue 9%27 Apr, 2017 By: Erik Gruenwedel
Universal Pictures Home Entertainment April 27 reported first-quarter (ended March 31) revenue of $299 million, up 8.7% from revenue of $275 million during the previous-year period.
Filmed-entertainment revenue, which includes theatrical, content licensing and related channels, increased 43.2% to $2 billion, primarily reflecting higher theatrical revenue, as well as increased content licensing, home entertainment and related revenue.
Theatrical revenue increased by $415 million to $651 million, reflecting the strong box office performances of Fifty Shades Darker, Get Out and Split, as well as the continued success of Sing in this year's first quarter.
Top-selling home entertainment releases included The Secret Life of Pets, which generated $6.8 million from the sale of 302,000 combined DVD/Blu-ray Discs; Jason Bourne ($3.3 million/170,000 discs); and In a Valley of Violence ($891,000/57,000 discs), according to The-Numbers.com.
Other revenue and content licensing revenue increased 35.9% and 12.1%, respectively, primarily due to the inclusion of DreamWorks in the current-year period. Adjusted pre-tax earnings increased by $201 million to $368 million, reflecting higher revenue, partially offset by higher programming and production costs.