Jurassic World Domination
October 27, 2022
Universal Pictures Home Entertainment reported October 27 third quarter (ended September 30) revenue of $356 million, which was up more than 30% of revenue of $273 million during the previous year period. Over nine months of the fiscal year, sales of movies, TV and other content across multiple formats, including packaged media, totaled $964 million, up more than 20% from $800 million in 2021 when the market and the economy were still affected by the pandemic.
Among the best-selling films at retail in the quarter were Jurassic World Dominion, Can 2, Halloween Kills a Downton Abbey: A New Era, among others.
Overall studio revenue (including theatrical) increased 31.4% to $3.2 billion, primarily reflecting theatrical licensing revenue and premium content. Theatrical revenue increased $366 million to $673 million, primarily due to the successful performance of recent releases, Jurassic World Domination a Minions: The Rise of Gru. Content licensing revenue increased 16.8%, primarily due to the timing of the availability of content from Universal’s television and film studios under licensing agreements, including additional sales of content as production levels return to normal.
Adjusted earnings before tax increased $358 million to $537 million reflecting higher revenue, which more than offset higher operating expenses. The increase in operating costs was driven by higher programming and production costs, reflecting higher amortization in film and television production costs in the current year.
For the nine months, revenue from the studios segment increased 26.4% to $8.9 billion, primarily reflecting higher content licensing revenue and theatrical revenue. Adjusted pretax earnings fell 6% to $783 million, reflecting higher operating costs, which more than offset higher revenue. The increase in operating costs was primarily driven by higher programming and production expenses.
“Strong demand from guests at our theme parks and viewership of our iconic content drove nearly 25% growth in adjusted pre-tax earnings,” Chairman/CEO Brian Roberts said in a statement.