Warner Finds 'Fantastic Beasts' in Home Entertainment3 May, 2017 By: Erik Gruenwedel
Warner Bros. Home Entertainment reported first-quarter (ended March 31) revenue from theatrical product of $368 million, which was up 15% from revenue of $321 million during the previous-year period. Content included packaged media and digital. Revenue from TV content declined 7.5% to $87 million, from $94 million.
Warner Bros. Studios saw adjusted operating income increase 20% ($84 million) to $510 million on revenue of $3.4 billion, which was up 8% from revenue of $3.1 billion a year ago.
The studio attributed the revenue increase to higher TV and theatrical revenue, partially offset by lower video games revenue. Television revenue increased primarily due to higher domestic licensing revenue related to certain library series.
Theatrical revenue grew due to an increased number and mix of box office releases, which included Kong: Skull Island and The Lego Batman Movie, as well as higher home entertainment revenue primarily related to the March 28 release of Fantastic Beasts and Where to Find Them and higher carryover revenue.
Top-selling Warner discs in 2017 so far include Suicide Squad with $12.3 million in revenue on almost 500,000 combined DVD/Blu-ray Disc units sold; The Accountant ($9 million), Storks ($7 million) and Sully ($22.8 million), among others, according to The-Numbers.com.
Video games revenue declined due to a fewer number and the mix of releases in the current year period and lower carryover revenue.