Universal Pictures 2022 Home Entertainment Revenue Spiked 9% to $1.3 Billion
January 26, 2023
Universal Pictures Home Entertainment Jan. 26 reported $1.3 billion in revenue for the fiscal year (ended Dec. 31, 2022). The figure was up more than 9% from revenue of $1.12 billion in 2021.
For the quarter, revenue topped $339 million, down less than 13% from revenue of $392 million in the previous-year quarter.
The studio’s top-selling retail titles in physical and digital formats included Jurassic World Dominion, animated musical Sing 2 and Halloween Ends.
Theatrical revenue in the quarter increased 47.3%, primarily due to the successful performance of recent releases, including Ticket to Paradise, Puss
in Boots: The Last Wish, Violent Night, Minions: The Rise of Gru and Halloween Ends.
Overall studio revenue increased 13.1% to $2.7 billion, from $2.39 billion, due to higher content licensing and theatrical revenue. Content licensing revenue increased 15.9%, primarily due to the timing of when content was made available by our film and television studios under licensing agreements, including additional sales of content as production levels returned to normal following the pandemic.
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Adjusted pre-tax quarterly earnings increased $109 million to $160 million, from $51 million, reflecting higher revenue, which more than offset higher operating expenses. The increase in operating expenses was driven by an increase in advertising, marketing and promotion expenses reflecting the size and timing of this quarter’s theatrical slate, as well as higher programming and production expenses, reflecting higher amortization of film production costs in the current year period.
For the full fiscal year, studio revenue increased 23% to $11.6 billion, from $9.4 billion, primarily reflecting higher content licensing revenue and theatrical revenue. Adjusted pre-tax earnings increased 6.6% to $942 million, from almost $884 million, reflecting higher revenue, partially offset by higher operating expenses.
“[The studio] ranked second in worldwide box office,” Comcast CEO Brian Roberts said in a statement. “I am proud of how our team executed throughout 2022.”