Photo: Bloomberg Markets magazine
Lionsgate reported a big $77.5 million in second quarter earnings due in part to summer films and its huge 2012 blockbuster, “The Hunger Games.”Wall Street predicted $621.8 million in total revenue for the company, a number that Lionsgate blew past reporting a 97 per cent jump to a total of $707 million in revenue.
Despite a decline 29 per cent decline in television, Lionsgate reported a theatrical revenue bump of $93.9 million for the quarter ending September 30 to $116.2 million in part to three films, neither which performed especially well domestically:
“The Expendables 2″: $84.8 million $289.5 million
“The Possession“: $49 million $76.6 million
“Step Up Revolution“: $35 million $140.5 million
However, the big revenue winner for Lionsgate were “The Hunger Games” DVD sales. Released August 18, the film sold 3.8 million DVD and Blu-ray copies opening weekend.
Since then, Lionsgate hasn’t updated how many copies of the film have been purchased; however, the company says its $261.9 million revenue in entertainment revenue for the quarter–an $141.5 million increase over last years same quarter–is primarily in part to DVD sales.
Last year, during the same quarter, theatrical releases brought in $120.4 million.
“The Hunger Games” has earned $686.5 million to date worldwide.
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