MGM Studios Q1 Home Entertainment Revenue Plummets

Limited to catalog releases, MGM Studios Home Entertainment reported first-quarter (ended March 31) global revenue of $19.1 million, down 40% ($12.8 million) from revenue of $31.9 million for the previous-year period.

Home entertainment revenue for the prior-year quarter primarily included worldwide electronic sellthrough revenue for The Magnificent Seven and Ben-Hur, plus ongoing revenue from Spectre, the “Hobbit” trilogy, Creed and library content.

On the bright side, home entertainment revenue from television content topped $10.5 million, up $2 million (23.5%) from revenue of $8.5 million for the previous-year period.

The increase was primarily driven by the continued strong home entertainment sales of season 1 of “The Handmaid’s Tale,” which streams exclusively on Hulu.

MGM distributes its content via several major studios, including 20th Century Fox Home Entertainment for Spectre, SkyfallDeath Wish, Every Day, RoboCop, “Vikings,” “Get Shorty,” “The Handmaid’s Tale” and “Teen Wolf,” among others,as well as certain EST distribution rights feature films and television content. MGM’s agreement with Fox expires June 30, 2020.

Sony Pictures Home Entertainment distributes the “Jump Street” franchise and The Magnificent Seven; Warner Bros. Home Entertainment is the physical home entertainment distributor for the “Hobbit” trilogy, Creed, Max, Me Before You, Tomb Raider and Everything, Everything.

Fox is the physical home entertainment distributor for Poltergeist; and Paramount Home Media Distribution is the physical home entertainment distributor for Sherlock Gnomes and Ben-Hur.

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