October 29, 2020
Give it up to crazy trolls. Universal Pictures Home Entertainment Oct. 29 reported third-quarter (ended Sept. 30) revenue of $278 million, which was up 49.1% from revenue of $185 million in the previous-year period. Through nine months of the fiscal year, revenue reached $678 million, about par with revenue of $681 million in the year-ago period.
The studio attributed much of the home entertainment quarterly success to the PVOD and transactional VOD release of erstwhile theatrical release Trolls World Tour.
As expected, theatrical revenue crumbled almost 95% to $29 million, from $549 million, as the nations movie screens remained closed or impacted by reduced seating capacity due to the ongoing coronavirus pandemic. Through nine months, revenue was down almost 72% to $354 million, compared with revenue of $1.24 billion a year ago.
Universal said “other” studio revenue decreased 44.8%, primarily due to decreases in revenue from movie ticketing (i.e. Fandango) and entertainment and live stage play businesses, which were impacted by venue closures as a result of COVID-19. Content licensing revenue increased 14.5%, due to the timing of content provided under licensing agreements, including transactions with subscription streaming video service Peacock.