November 2, 2022
Paramount Global Nov. 2 reported third-quarter (ended Sept. 30) revenue from the box office, home entertainment and licensing of movies was $780 million, up 48% from $528 million during the previous-year period. Adjusted pre-tax operating income increased to $41 million in the quarter, reflecting the strong performance of Top Gun: Maverick. The segment posted a loss of $24 million during the previous-year period.
The uptick was driven in part by Paramount Pictures’ sixth consecutive No. 1 box office debut release, horror movie Smile, and the retail release of Top Gun: Maverick, which became the best-selling digital sellthrough title in the U.S. in its first week of release.
Theatrical revenue increased 245% to $231 million, from $67 million during the previous-year period. Through nine months of the fiscal year, Paramount’s box office revenue has skyrocketed 457% to $1.13 billion, from $202 million during the same period in 2021.
Filmed entertainment’s “licensing and other” segment, which includes home entertainment, saw revenue increase 19% to $549 million, from $461 million during the prior-year period. Through nine months, segment revenue is down 8% to $1.63 billion, from $1.78 billion last year.