Paramount Home Entertainment Aug. 8 reported third-quarter (June 30) revenue of $161 million on sales of packaged media and digital content, which marked a 35% increase from revenue of $119 million in the previous-year period.
The tally — driven by the retail release of Bumblebee — was 6% more than theatrical revenue of $152 million.
While theatrical revenue reflected the strong box office performance of Rocketman ($185 million) and Pet Sematary ($54.7 million), it was significantly offset by performance of A Quiet Place in the prior-year quarter
Through nine months of the fiscal year, home entertainment revenue is up 6% at $493 million compared to $465 million in the last fiscal year.
Home entertainment continues to lead Paramount’s theatrical box office year-to-date ($473 million) by more than 4%.
With parent Viacom recently acquiring ad-supported VOD service Pluto TV, Paramount has significantly increased licensing content to the service, in addition to third-party distributors.
License revenue increased nearly 29% to $521 million from $404 million last year driven by monetization of the library and growth in TV production. Through the fiscal year, license revenue has topped $1.05 billion.
Regardless, total studio operating income increased $41 million to $85 million — the 10th consecutive quarterly uptick.
“Paramount’s momentum continues, keeping us on track to deliver full year profitability,” Viacom CEO Bob Bakish said in a statement.
Paramount’s remake of Pet Sematary topped the NPD VideoScan First Alert chart, which tracks combined DVD and Blu-ray Disc unit sales, and the dedicated Blu-ray Disc sales chart the week ended July 13.
The adaptation of the Stephen King novel, which was previously made into a film in 1989, earned $54.7 million at the domestic box office.
No. 2 on the overall sales chart was Disney’s live-action Dumbo, the top seller the previous two weeks. Dumbo in its third week sold 90% as many copies as the debuting Pet Sematary. It was No. 3 on the Blu-ray chart.
The No. 3 overall seller and No. 2 Blu-ray seller was Disney’s Captain Marvel.
No. 4 on the overall sales chart was Universal’s Little, a twist on Big in that an adult is magically turned into a child. It was No. 7 on the Blu-ray chart.
The No. 5 overall seller was Escape Plan: The Extractors, which was No. 8 on the Blu-ray chart.
On the Blu-ray chart, the fourth-ranked and fifth-ranked titles were the first two seasons of Netflix’s “Stranger Things,” respectively, which are available on Blu-ray exclusively from Target.
Paramount’s remake of the horror film Pet Sematary debuted at No. 1 on Redbox’s disc rental chart, which tracks DVD and Blu-ray Disc rentals at the company’s more than 40,000 red kiosks, the week ended July 14.
The Universal Pictures comedy Little debuted at No. 2 on the kiosk rental chart.
The order was reversed on the Redbox On Demand chart, which tracks digital transactions, including both electronic sellthrough and streaming rentals, with Little at No. 1 and Pet Sematary at No. 2.
Disney’s live-action Dumbo remake dropped a spot to No. 3 on the kiosk chart. Lionsgate’s Escape Plan: The Extractors, the previous week’s top title on both Redbox’s disc and digital charts, slipped to No. 4 on the disc chart and No. 6 on the On Demand chart.
Disney’s Captain Marvel was No. 5 on the disc chart.
Written for the screen by author Stephen King based on his bestseller, director Mary Lambert’s 1989 horror film Pet Sematary will stalk home entertainment on 4K Ultra HD combo pack and Blu-ray March 26 from Paramount Home Media Distribution.
The film, which earned more than $57 million to become the highest grossing horror film of the time, according to the studio, is being re-released in time for the debut of the studio’s theatrical remake April 5. The story follows the Creed family who, after their cat is accidentally killed, takes the advice of a friendly neighbor and buries it in a mysterious nearby cemetery. When the cat comes back, it’s only the beginning of an unthinkable evil.
Pet Sematary will mark its 30th anniversary newly remastered in 4K under the supervision of Lambert with new bonus content, which includes the cast and crew of Paramount’s new adaptation discussing the original film’s impact and the lasting legacy of its story; a new interview with Lambert about her memories making the film, the restoration, and King’s enduring influence; and new photo galleries with behind-the-scenes images, original storyboards and vintage ads.
The 4K Ultra HD disc also features Dolby Vision. For the 4K restoration, Lambert and Paramount went back to the original film negative to rescan it in order to recapture the original detail.
“The shadows are much softer and the colors are richer…and it looks amazing,” said Lambert in a statement.
In addition to the new bonus material, both the 4K Blu-ray and Blu-ray feature access to a digital copy of the film and previously released bonus material, including commentary by Lambert, a guided tour of the locations led by King along with an exploration of the origins of the novel, an introduction to the cast and characters, and a behind-the-scenes look at the making of the film.