Paramount Home Entertainment Ups Q2 Domestic Revenue 3%

Paramount Home Entertainment May 10 reported second-quarter (ended March 31) domestic revenue of $104 million, up 3% from revenue of almost $101 million during the previous-year period. International revenue fell 19% to $50 million from $61.7 million.

Overall, home entertainment revenue dipped 5.6% to $154 million from revenue of $163 million last fiscal year. Revenue through the first-half of the fiscal year is down about 4% to $332 million from $346 million.

The studio’s top-selling disc, Instant Family, has sold almost $4 million in combined DVD/Blu-ray Disc units since its March 5 retail bow.

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Meanwhile, Paramount Pictures reported its ninth straight quarter of improved operating income to $29 million, which was up 222% from operating income of $13 million during the previous-year period.

Theatrical revenue leapfrogged 244% to $172 million from $70.5 million last year and largely driven by Bumblebee. Domestic revenue increased 144% to $66 million while international revenue increased to $106 million.

Separately, Nickelodeon’s child-based subscription streaming video service Noggin topped 2.5 million subscribers globally. Noggin, Nick Hits, Comedy Central Now and MTV Hits will be offered as Apple TV Channels on the new Apple TV app for iPhone, iPad and Apple TV later this month, on Samsung this spring and on Mac this fall.

In April, Paramount+ signed its first Latin American partnership with NET in Brazil and Claro video in the rest of Latin America, including on mobile.

At the end of April, monthly active users grew to approximately 16 million, up 31% from 12 million since December 2018.

Viacom also announced several new distribution and content deals. Comcast is adding Pluto TV in its Xfinity Flex service, and Pluto TV will be coming to Xfinity X1 soon. Grew roster of 150+ content partners with recent additions of CNN, BBC and Major League Soccer.

The company is launching Pluto Latino, its U.S. Hispanic channels, in July. International plans include launches in Latin America and Switzerland, and expansion in the U.K., Germany and Austria.

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