July 26, 2018
Box office and retail success of movies is often difficult to replicate year-over-year.
Universal Pictures Home Entertainment July 26 reported second-quarter (ended June 30) revenue of $225 million, down more than 38% from revenue of $334 million during the previous-year period.
Through the first-half of the fiscal year, home entertainment revenue reached $473 million, down less than 24% from $620 million last year.
The studio attributed the decline to the success of several releases in the prior-year period, including Fifty Shades Darker, Sing, Split and Get Out, partially offset by Fifty Shades Freed in this year’s quarter.
Indeed, Freed, the third installment in the Fifty Shades franchise co-starring Dakota Johnson and Jamie Dornan, has generated $15 million in sales of more than 784,000 combined DVD/Blu-ray Disc units – 11thbest-selling title thus far in 2018, according to The-Numbers.com.
By comparison, however, sequel Darker, Sing, Split and Get Out combined for more than $111.3 million in disc revenue in 2017.
Theatrical revenue decreased 35.5%, also primarily due to the strength of releases in last year’s second quarter, including Fate of the Furious, and timing of this quarter’s releases, including Jurassic World: Fallen Kingdom– released just eight days before the end of Q2.
Total studio revenue decreased 20% to $1.7 billion from $2.1 billion, reflecting lower theatrical, home entertainment and content licensing revenue. Pre-tax earnings decreased 52% to $138 million, reflecting lower revenue, partially offset by lower programming and production costs.
Through the first six months of the year, studio revenue is down more than 18% to $3.3 billion from $4.1 billion last year. Pre-tax earnings are down more than 48% to $341 million from $658 million last year.