November 14, 2019
It may be a subscription streaming video future, but sales of packaged and digital media remain strong for Paramount Home Entertainment.
The division generated $646 million in fiscal-2019 (ended Sept. 30) revenue, which was up almost 4% from revenue of $622 million during the previous-year period.
Domestic home entertainment revenue in the year surged 11% to $425 million, from $383 million the previous year. International sales dropped 8% to $221 million, from $240 million.
In the quarter, home entertainment revenue declined 3% to $153 million, from $158 million in the previous-year period. Domestic sales dropped 2% to $101 million, from $103 million. International sales dropped 4% to $52 million, compared with $54 million.
The top-selling Paramount title in the year was Bumblebee.
Theatrical revenue plummeted 72% to $94 million, from $336 million the previous year. Domestic revenue fell 56% to $48 million, from $109 million. International sales dropped 80% to $46 million, compared with $230 million. The theatrical revenue declined reflected the comparison to Mission: Impossible — Fallout in the prior year.
Licensing revenue increased by 5% for the full year and 26% for the quarter, driven by growth in TV production. Ancillary revenue grew 33% for the full year, driven by higher licensing fees from international theme parks and a new music rights agreement
Paramount has delivered three straight years of year-over-year adjusted operating income improvement and achieved full year profitability for the first time in four years.
“It’s a testament to the strength of our strategy and content slate,” Viacom CEO Bob Bakish said in a statement.