Paramount Home Media Distribution Q1 Revenue Falls
February 8, 2018
Paramount Pictures Home Media Distribution Feb. 8 reported first-quarter (ended Dec. 31, 2017) revenue of $183 million, which was down almost 25% from revenue of $243 million during the previous-year period.
The home entertainment studio attributed the decline to the comparison against the release of Star Trek Beyond in the prior year quarter. Domestic home entertainment revenue decreased 38%, while international revenue increased 1%.
Star Trek Beyond generated $32.8 million in revenue from sales of 1.87 million combined DVD/Blu-ray Disc units, according to The-Numbers.com. The results do not include 4K UHD Blu-ray and digital retail.
The results followed a fiscal year that saw the studio up revenue 8% to $849 million from $783 million in 2016.
Overall, Paramount reported an operating loss of $130 million, which was a 28% “improvement” from an operating loss of $180 million in the previous-year period.
The studio saw a 28% decline in total revenue to $544 million from $758 million last year. Domestic revenue fell 42% to $270 million, with international sales down 6% to $274 million.
Notably, the venerable brand generated just $100 million in theatrical revenue, down 48% from $192 million last year. Content licensing declined almost 14% to $213 million from $245 million.
Lone highlight – domestic launch in January of Paramount Network featuring original series, including “Waco,” “Heathers,” “American Woman” and “Yellowstone”; “Lip Sync Battle,” “Ink Master” and “Bar Rescue”; all-new “Bellator” events and a broad portfolio of films.
“The turnaround at Paramount Pictures is in sight,” CEO Bob Bakish said on the fiscal call.