October 24, 2019
What a difference a few genetically modified dinosaurs make.
Universal Pictures Home Entertainment Oct. 24 reported third-quarter (ended Sept. 30) revenue of $185 million, which was down about 29% from revenue of $260 million during the previous-year period. For the fiscal year, sales of physical and digital media have so far topped $681 million, down 9.2% from revenue of $733 million last year.
The studio cited strong retail sales of Jurassic World: Fallen Kingdom in last year’s third quarter, partially offset by the performance of The Secret Life of Pets 2 in this year’s third quarter.
Overall, Universal Pictures studio revenue fell 6.2% to $1.7 billion. Theatrical revenue decreased 8.8%, reflecting the volume and strength of releases in last year’s third quarter, including Fallen Kingdom and Mamma Mia! Here We Go Again, partially offset by the performance of Fast & Furious Presents: Hobbs & Shaw in this year’s third quarter.
For the nine months ended Sept. 30, studio revenue decreased 4.7% to $4.9 billion compared to 2018, primarily reflecting lower theatrical revenue, partially offset by higher content licensing revenue. Adjusted pre-tax earnings increased 33.7% to $742 million compared to 2018, reflecting lower revenue more than offset by lower programming and production costs.