Universal Ups Q2 Home Entertainment Revenue

Universal Pictures Home Entertainment July 25 reported second-quarter (ended June 30) revenue of $229 million, which was up nearly 2% from revenue of $225 million during the previous-year period.

Through six months of the fiscal year, home entertainment revenue is up almost 5% to $496 million from $473 million during the previous-year period.

Top-selling titles in the quarter included The Grinch, Halloween and The House with a Clock in Its Walls.

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Overall, studio revenue declined nearly 15% to $1.45 billion from $1.71 billion due in large part to unfavorable comparisons with last year’s theatrical hit, Jurassic World: Fallen Kingdom, partially offset by the performance of The Secret Life of Pets 2 in this year’s second quarter.

For the half-year period, total studio revenue decreased 3.9% to $3.2 billion compared to $3.3 billion in 2018, reflecting lower theatrical and other revenue, partially offset by higher content licensing and home entertainment revenue.

Pre-tax earnings increased 60.3% to $547 million compared to $341 million in 2018, reflecting lower revenue more than offset by lower operating expenses.

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