Universal Ups Q3 Home Entertainment Revenue 30%

Jurassic World Dominion

Erik Gruenwedel

Universal Pictures Home Entertainment October 27 reported the third quarter (ended September 30) income of $ 356 million, which was up more than 30% of the income of $ 273 million during the previous year period. Through the nine months of the fiscal year, sales of movies, TV and other content in various formats, including packaged media, totaled $964 million, up more than 20% from $800 million in 2021 when the market and economy are still affected by the pandemic.

Top-selling movies at retail in the quarter included Jurassic World Dominion, Sing 2, Halloween Killing and Downton Abbey: A New Era, among them.

All studio (including theater) revenue increased 31.4% to $3.2 billion, mainly reflecting higher theater and content license revenue. Theatrical revenue increased $366 million to $673 million, primarily due to the successful performance of recent releases, Jurassic World Dominion and Minions: Rise of Gru. Content licensing revenue increased 16.8%, primarily due to the period when content was provided by television and film studios Universal under license agreements, including additional content sales when production levels returned to normal.

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Adjusted pre-tax income increased $358 million to $537 million reflecting higher revenue, which more than offset higher operating expenses. The increase in operating expenses was driven by higher programming and production costs, reflecting the amortization of film and television production costs in the current year period.

For the nine months, revenue from the studio segment increased 26.4% to $8.9 billion, primarily reflecting higher content licensing revenue and theatrical revenue. Adjusted pre-tax income fell 6% to $783 million, reflecting higher operating expenses, which more than offset higher revenue. The increase in operating expenses was primarily driven by higher program and production costs.

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“Strong demand from visitors to our theme parks and from viewers of our iconic content led to nearly 25% growth in adjusted pre-tax revenue,” Chairman/CEO Brian Roberts said in a statement.

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