March 28, 2018
MGM Studios March 28 reported fiscal 2017 (ended Dec. 31, 2017) home entertainment revenue of $91.9 million, which was down 55% from revenue of $206.5 million during the previous-year period.
MGM attributed the decline to comparisons with the global release of Spectre during the prior-year period, strong digital sales from the latest James Bond installment starring Daniel Craig; Rocky-themed boxing drama Creed, ongoing revenue from other recently released films, and the tail-end of the studio’s worldwide home entertainment promotion (i.e. catalog sales) for the James Bond franchise.
Spectre, which is distributed by 20th Century Fox Home Entertainment, generated $36.2 million in disc sales, according to The-Numbers.com. Creed — distributed by Warner Bros. Home Entertainment — generated $25.3 million.
Fiscal 2017 also included revenue from recent film releases, primarily worldwide digital revenue for The Magnificent Seven and Ben-Hur, home entertainment revenue for The Belko Experiment, plus ongoing revenue from Spectre, The Hobbit trilogy and additional library content.
Home entertainment revenue from TV content topped $33.8 million, up 1% from $33.6 million in 2016.
Finally, MGM announced that its senior management team would continue to run the company following the March 21 termination of CEO Gary Barber.