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Time Warner and News Corp. film divisions post third quarter gains

Written by Rich Fiscus (Google+) @ 08 Nov 2007 0:44 User comments (3)

Time Warner and News Corp. film divisions post third quarter gains Despite the usual rhetoric claiming huge losses due to piracy, both Time Warner (Warner Brothers) and News Corp. (Fox) have announced substantial revenue growth in both theatrical and home entertainment divisions.
Hot summer films like Harry Potter and the Order of the Phoenix and Ocean’s 13, as well as a strong showing from the DVD release of 300 contributed to a 33% increase for Time Warner's filmed entertainment division. Meanwhile News Corp.'s Film Entertainment Division saw a 51% increase over last year off the strength of hits including The Simpsons Movie and Live Free or Die Hard.

Television network performance for the two companies was mixed. Time Warner's TNT network bosts the most viewed original series on an ad supported cable network (The Closer) and an annual increase of 6% in ad revenue. Revenue increases from News Corp.'s cable offerings were offset slightly by losses in broadcast television, but were still substantial.

These increases are coming during a period when film and television executives are investing in new delivery methods like corporate websites, online sales (downloads), and third party Streaming services like Joost. At the same time they're still making money from traditional audiences.

Sources:
Video Business
Video Business

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3 user comments

18.11.2007 1:24

thats what happens when there's good movies out..
like american gangster, screener is out like 2 weeks before the theater releaese date..and it still made good $$$

28.11.2007 1:30

Hmmm 33% and 51% I wonder what that equates to in dollars? I'm sure we'll next hear that piracy has wiped out all those gains and that's the reason all the writers are out on strike because they just can't afford to give out more money to the writers. Of course if you didn't know writers average about 200K a year!

This message has been edited since its posting. Latest edit was made on 08 Nov 2007 @ 1:31

328.11.2007 16:07

This should sow and tell these companies one thing if you bring good to excellent product out there for the consumers they will not hesitate to spend money on it. If you keep creating crap then you will not see any growth.

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