MGM Studios Ups Q3 Home Entertainment Revenue 30%

MGM Studios Nov. 15 reported third-quarter (ended Sept. 30) home entertainment revenue of $21.8 million, which was up 30% from revenue of $16.9 million during the previous-year period.

The studio attributed the increase to digital sales of Tomb Raider and ongoing domestic home entertainment distribution of Death Wish and Every Day, plus continued distribution of library content.

Indeed, the Tomb Raider prequel rebootwith Alicia Vikander reprising Angelina Jolie’s Lara Croft character, has generated $12.6 million in combined DVD/Blu-ray Disc units sales since its June 12 release by Warner Bros. Home Entertainment, according to The-Numbers.com. The film is the 28th best-selling disc in 2018.

Death Wish, starring Bruce Willis in a remake of the classic 1973 revenge thriller that starred the late Charles Bronson, has sold $7.4 million in disc sales since its June 5 retail street date.

Home entertainment revenue for the prior-year’s quarter primarily included distribution of The Belko Experiment, The Magnificent Seven and library content.

In television programming, home entertainment and related revenue was $7.9 million, which was largely in line with $8 million in revenue last year. Revenue in each period was primarily driven by the strong retail performance of The Handmaid’s Tale (seasons 1 and 2).

The latter doesn’t include disc sales of season 2, which isn’t available until Dec. 4 from MGM Studios Home Entertainment.

Through nine months of the fiscal year, home entertainment movie revenue is up 16% to $78.1 million from $67.5 million last year. Revenue drivers included previously mentioned movie titles, in addition to ongoing revenue from Spectre, The Hobbit trilogy and additional library content.

Television program home entertainment revenue increased 26% to $26.9 million from $21.3 million last year – again driven by The Handmaid’s Tale.

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