AfterDawn: Tech news

Time Warner revenue falls 8% in first quarter

Written by Rich Fiscus (Google+) @ 13 May 2009 1:03 User comments (5)

Time Warner revenue falls 8% in first quarter First quarter revenue from Time Warner's Filmed Entertainment division, which includes motion picture, home video, and television production and distribution, was down more than $200 million from the same period last year. Despite the drop, profits for the division were up 10%.
The news wasn't as good for other divisions. While income for their Network Division, which includes of Turner Broadcasting and HBO, saw more than a 5% increase in revenue, the Publishing and AOL divisions' revenue dropped by half a billion dollars combined.

Total revenue fell fell $525 million, resulting in a profit of just under $1.2 billion.

Although this is another clear sign that the entertainment industry is being affected by global economic conditions it also shows that they are still doing very well. It's certainly better than their former music division, Warner Music Group, did over the same period.

Last week WMG reported a 17% drop in revenue compared to 2008.

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5 user comments

113.5.2009 4:08

"Argh... 1.2 billion I thought we got it all at 525 million?! Hoist the flag mateys we have work to be done!"

Blackbeard






Yes I know it was a poor attempt at sarcasm!

213.5.2009 13:55
djstnt
Inactive

money scam edited by ddp

This message has been edited since its posting. Latest edit was made on 13 May 2009 @ 15:51

313.5.2009 15:12
tavek
Inactive

Well if they would stop making those ocenas 21 movies and Goerge clooney over paid along with Julie robert films they might actually make some cash.
Get with teh times, dont over pay actors that films bomb on.
Batman is their only cash cow now.

413.5.2009 15:53

djstnt, lightning struck!!! post edited.

513.5.2009 21:50

WIERD! making less money in a recession??? strange! Maybe thats why my company hasn't hired anyone new!

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