Universal Ups Q3 Home Entertainment Revenue 30%

Jurassic World Dominion

Erik Gruenwedel

Universal Pictures Home Entertainment on Oct. 27 reported third-quarter revenue (ended Sept. 30) of $356 million, up more than 30% from revenue of $273 million during the year-ago period. Through the nine months of the fiscal year, sales of movies, TV and other content across multiple formats, including packaged media, totaled $964 million, up more than 20% from $800 million in 2021 when the market and the economy were still affected by the pandemic.

Top-selling movies at retail in the quarter included Jurassic World Dominion, Sing 2, Halloween Kills AND Downton Abbey: A New Age, among others.

Overall studio revenue (including theatrical) increased 31.4% to $3.2 billion, primarily reflecting higher theatrical and content licensing revenue. Theatrical revenue increased by $366 million to $673 million, primarily due to the successful performance of recent shows. Jurassic World Dominion AND Minions: The Rise of Gru. Content licensing revenue increased 16.8%, primarily due to the timing of content becoming available from Universal’s television and film studios under licensing agreements, including additional content sales as production levels rebounded in normality.

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Adjusted earnings before taxes increased by $358 million to $537 million, reflecting higher revenue that more than offset higher operating expenses. The increase in operating expenses was driven by increased programming and production expenses, reflecting higher amortization of film and television production costs in the current year period.

For the nine months, revenue from the studio segment increased 26.4% to $8.9 billion, primarily reflecting higher revenue from content licensing and theater revenue. Adjusted pretax earnings decreased 6% to $783 million, reflecting higher operating expenses that more than offset higher revenue. The increase in operating expenses was primarily driven by higher programming and production expenses.

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“Strong demand from guests at our theme parks and from viewers of our iconic content drove nearly 25% growth in pretax adjusted earnings,” Chairman/CEO Brian Roberts said in a statement.

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