With Daniel Craig’s “Spectre” making only a small contribution, MGM’s first-quarter 2016 revenue dropped 15% to $311.3 million.
The privately held studio reported Wednesday a slight gain in earnings to $57.1 million from $56.8 million, thanks to increases in TV and home entertainment.
The absence of major first-quarter releases held down revenues compared with the 2015 quarter, which saw “The Hobbit: Battle of the Five Armies,” as worldwide theatrical revenue for film content plunged 73% to $20.8 million in a reflection of the timing of franchise film releases from prior years. Theatrical revenue for the current year’s first quarter primarily included the tail-end of worldwide theatrical revenue for the James Bond movie “Spectre,” which opened in late October.
“Also, during the current year’s first quarter, we did not recognize a substantial portion of the theatrical revenue for ‘Creed’ or ‘How to Be Single,'” the studio said.
Worldwide television licensing revenue for film content slid 35% to $107 million,...
The privately held studio reported Wednesday a slight gain in earnings to $57.1 million from $56.8 million, thanks to increases in TV and home entertainment.
The absence of major first-quarter releases held down revenues compared with the 2015 quarter, which saw “The Hobbit: Battle of the Five Armies,” as worldwide theatrical revenue for film content plunged 73% to $20.8 million in a reflection of the timing of franchise film releases from prior years. Theatrical revenue for the current year’s first quarter primarily included the tail-end of worldwide theatrical revenue for the James Bond movie “Spectre,” which opened in late October.
“Also, during the current year’s first quarter, we did not recognize a substantial portion of the theatrical revenue for ‘Creed’ or ‘How to Be Single,'” the studio said.
Worldwide television licensing revenue for film content slid 35% to $107 million,...
- 5/11/2016
- by Dave McNary
- Variety - Film News
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