July 24, 2018
WarnerMedia (previously Time Warner) July 24 reported select second-quarter results (ended June 30) following its acquisition by AT&T.
Warner Bros. reported operating income of $256 million, up from $225 million operating income during the previous-year period — and excluding $81 million of costs related to the AT&T merger. Revenue increased 11% ($318 million) to $3.3 billion.
Theatrical revenue was essentially flat as the prior-year (2017) quarter included a more favorable mix of home entertainment and theatrical releases, which was offset by higher television licensing revenue of theatrical product in the current-year quarter.
WarnerMedia (Warner Bros., HBO and Turner) no longer reports physical and digital sales of Warner Bros. or HBO original titles. The company said sales of DVD, Blu-ray Disc and digital titles helped home entertainment finish the period with 18.2% market share, No. 2 in the market behind Walt Disney Studios Home Entertainment.
Second-quarter Warner home entertainment releases included Father Figures, Paddington 2, 12 Strong, The 15:17 to Paris, Game Night and Tomb Raider. That compared with Fist Fight, The Lego Batman Movie and CHiPs in the previous-year period.
Paddington 2 has generated packaged-media sales of $3.2 million on 165,000 discs since its April 24 retail release, according to The-Numbers.com.
Current third-quarter packaged-media releases include Rampage (July 17), Ready Player One (July 24), Life of the Party (Aug. 7), Tag (Aug. 28) and Ocean’s 8 (Sept. 11).
HBO Home Entertainment second-quarter releases included Ballers: The Complete Third Season and Vice Principals: The Complete Series. That compared to Veep: The Complete Fifth Season, Silicon Valley: The Complete Third Season, Divorce: The Complete First Season and The Young Pope: The Complete First Season in the previous-year period.
Heading into the 2018-19 television season, Warner Bros. Television is producing more than 75 series across all networks and services, its highest number ever, and is producing 34 shows for the broadcast networks, 23 of which are returning series.