Universal Increases Q3 Home Entertainment Revenue 49% — Thanks to ‘Trolls’

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.

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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.

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