{"id":564993,"date":"2023-03-17T15:05:00","date_gmt":"2023-03-17T12:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/studio-unit-profit-report-paramount-jets-ahead-in-year-to-year-gains\/"},"modified":"2023-03-17T15:05:00","modified_gmt":"2023-03-17T12:05:00","slug":"studio-unit-profit-report-paramount-jets-ahead-in-year-to-year-gains","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/studio-unit-profit-report-paramount-jets-ahead-in-year-to-year-gains\/","title":{"rendered":"#Studio Unit Profit Report: Paramount Jets Ahead In Year-to-Year Gains"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36887892e79\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36887892e79\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/studio-unit-profit-report-paramount-jets-ahead-in-year-to-year-gains\/#Studio_Unit_Profit_Report_Paramount_Jets_Ahead_In_Year-to-Year_Gains\" >Studio Unit Profit Report: Paramount Jets Ahead In Year-to-Year Gains<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Studio_Unit_Profit_Report_Paramount_Jets_Ahead_In_Year-to-Year_Gains\"><\/span>Studio Unit Profit Report: Paramount Jets Ahead In Year-to-Year Gains<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Hollywood studios tried to put COVID-19 in the rear-view mirror in 2022, but cinemas in China were shut for part of the year, there were periods with little new product for screens, the global box office rose 28.4 percent to $25.7 billion (below pre-pandemic levels), and ramped up spending on productions and marketing of expanded slates affected some bottom lines. In some cases, a particularly profitable 2021 also made for particularly difficult earnings comparisons last year. Blockbusters helped the likes of Paramount Pictures, Warner Bros. and Universal to grow their profits though, as <em>The Hollywood Reporter<\/em>\u2018s annual analysis shows. Fueled by <em>Top Gun: Maverick<\/em>, Paramount saw the biggest year-to-year percentage change in profit.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The studio profit report includes an educative look at Disney, which isn\u2019t reporting figures for its filmed entertainment operations specifically, and streaming giant Netflix, even though its financials are not directly comparable to Hollywood studio units. Also keep in mind that financial disclosures for Hollywood studios remain limited and are not easily comparable. (For instance, Sony\u2019s pictures segment includes TV networks.)<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>THR <\/em>crunched figures for the calendar years 2022 and 2021, even though Disney and Sony have fiscal years that don\u2019t align with the calendar year, and their executive teams manage their businesses with an eye on the fiscal year. Caveats aside, here\u2019s a closer look at the bottom line of the film business in a time of fast-paced change.<\/p>\n<div class=\"post-content-image \/\/  \">\n<figure class=\"o-figure   size-large alignnone lrv-u-max-width-100p\" style=\"width:100%; max-width:1000px;\">\n<div class=\"c-lazy-image  \">\n<div class=\"lrv-a-crop-16x9\" style=\"padding-bottom:calc((1242\/1000)*100%);\">\n<p>                        <img loading=\"lazy\" decoding=\"async\" class=\"c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto\" src=\"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2023\/03\/10rep_studioprofitreport_EMBED.jpg?w=1000\" alt=\"\" srcset=\"\" data-lazy-sizes=\"\" height=\"1242\" width=\"1000\" decoding=\"\"\/><\/div>\n<\/p><\/div>\n<\/figure>\n<\/div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>NETFLIX<\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The streamer ended 2022 with 230.75 million global subscribers, adding 8.9 million for the year. Original <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">movies<\/a>, such as <em>Glass Onion: A Knives Out Mystery<\/em> and awards season hit <em>All Quiet on the Western Front<\/em>, as well as series <em>Wednesday<\/em> and<em> Stranger Things<\/em> season four, drove viewership, as did royal docuseries <em>Harry &amp; Meghan<\/em>. On a Jan. 19 earnings call, co-CEO Ted Sarandos gave shoutouts to <em>Sea Beast<\/em>, \u201cwhich is our biggest animated film ever,\u201d as well as <em>Purple Hearts<\/em> and actioner <em>Gray Man<\/em>, \u201ctwo of our most watched films ever on Netflix.\u201d The company\u2019s full-year revenue climbed 6 percent, but operating profit fell 10 percent as operating expenses jumped 11 percent, with leadership citing \u201cincreased personnel costs to support our continued improvements in our streaming service and our international expansion.\u201d Question marks regarding the year ahead include how much its ad tier can contribute to the bottom line. Despite a portfolio of 50 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s after the acquisition of four game studios, it\u2019s unclear to what extent games retain or grow the company\u2019s subscriber base in 2023. So far, the firm\u2019s biggest gaming launch was tied to un<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ed series <em>Too Hot to Handle<\/em>.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>WARNER BROS. <\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In a year of megamerger transition, Warners had fewer theatrical releases domestically, six, compared to 17 in 2021, but saw stronger box office for those titles. <em>The Batman<\/em> (worldwide box office: $771 million), Black Adam ($393 million, an underperformer) and <em>Elvis<\/em> ($287 million) led the way, while F<em>antastic Beasts: The Secrets of Dumbledore<\/em> ($407 million) underperformed compared to the $800 million-plus that most of the <em>Harry Potter<\/em> movies grossed. The film division\u2019s full-year revenue fell 8 percent due to lower TV licensing and home entertainment revenue. The bottom line, though, grew 4 percent as selling, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> and administrative expenses dropped 13 percent, \u201cprimarily attributable to lower marketing expense due to fewer theatrical releases.\u201d One bright spot, in the studio segment\u2019s \u201cother\u201d revenue department (i.e., not content, ads or distribution): The Warner Bros. Studio Tour London and Hollywood and the Harry Potter store in New York fed a 36 percent increase to $702 million. With new film studio leadership (Michael De Luca and Pamela Abdy) as well as DC Studios co-leaders James Gunn and Peter Safran, all eyes are now on the next film slate.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>NBCUNIVERSAL<\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Revenue in NBCUniversal\u2019s studios segment, which includes its film and TV production and distribution operations, jumped 23 percent last year. Among the hits for Universal, Focus Features and DreamWorks Animation were <em>Jurassic Park: Dominion<\/em> ($1 billion), Illumination\u2019s <em>Minions: The Rise of Gru<\/em> ($940 million), DWA\u2019s <em>Puss in Boots: The Last Wish <\/em>($454 million) and <em>Nope <\/em>($171 million). That boosted theatrical revenue by nearly 133 percent to $1.6 billion, while content licensing revenue rose 15.2 percent to $8.7 billion, including content licensed to other NBCU segments. And home entertainment revenue increased 9.2 percent to $1.3 billion. Studio profit improved less than that, though, amid a nearly 24.7 percent jump in costs and expenses to $10.7 billion. This was driven by a 57.4 percent boost in ad, marketing and promotion spending to $1.7 billion as more titles were released, a 20 percent rise (to $8.2 billion) in programming and production costs as activity accelerated after the pandemic, and a 19.4 percent gain in other costs (to $797 million), including \u201chigher costs associated with live stage plays.\u201d (NBCU is a producer of Broadway staple <em>Wicked<\/em>.)<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>SONY<\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Revenue in Sony\u2019s pictures unit dropped slightly during calendar year 2022, but profit halved due to the particularly strong previous year, when it benefited from a gain related to the sale of Game Show Network\u2019s GSN Games business to Scopely, and a big licensing deal for Sony-produced <em>Seinfeld <\/em>and the hit <em>Spider-Man: No Way Home<\/em>. (To note: Sony\u2019s fiscal year ends in March rather than December.) Sony\u2019s top theatrical title of 2022 was <em>Uncharted<\/em>, with a global box office take of $402 million, followed by <em>Bullet Train <\/em>($239 million) and <em>Where the Crawdads Sing<\/em> ($140 million). And within the motion picture segment, home entertainment revenue jumped 53 percent to $889 million, benefiting from strong sales of such releases as <em>Spider-Man: No Way Home<\/em>. Despite a new season of Netflix series <em>The Crown<\/em>, TV productions revenue dropped 5 percent to $3.5 billion. In positive trends, the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> networks in Sony\u2019s pictures unit climbed 2 percent to $2.6 billion during calendar year 2022. And, after HBO launched its adaptation of Sony game <em>The Last of Us<\/em>, the studio is hoping to capitalize with future adaptations of <em>Gran Turismo<\/em> and <em>Ghost of Tsushima<\/em> this year.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>PARAMOUNT<\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Fueled by <em>Top Gun: Maverick<\/em>, Paramount saw the biggest year-to-year percentage change in profit. The hits included <em>Sonic the Hedgehog 2<\/em> ($406 million) and Smile ($217 million). And then there is <em>Maverick<\/em> ($1.5 billion). The Tom Cruise film also garnered more than $280 million in global consumer spend across 23 million home entertainment transactions, the company touted. The filmed entertainment unit, which also includes Nickelodeon Studios, saw its biggest revenue source, \u201clicensing and other,\u201d climb 1 percent to $2.5 billion, again driven by Maverick. At the same time, its expenses rose 38 percent to more than $3.4 billion amid higher content and distribution costs tied to the revenue increase. The result was a more than 30 percent improvement in its bottom line, with a caveat that this was \u201cpartially offset by lower profits from the licensing of library titles,\u201d given it sold off <em>Coming 2 America<\/em> and <em>Tom Clancy\u2019s Without Remorse<\/em> to Amazon in the depths of the pandemic. Now, for Paramount management the focus is on replicating the success in the film division and making the direct-to-consumer streaming division profitable.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <strong>DISNEY<\/strong><\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    For the second year in a row, Disney didn\u2019t report film or studio business-only revenue and earnings due to its reorg for the streaming age. Instead, the company reported figures for its \u201ccontent sales\/licensing and other\u201d segment, which analysts see as not comparable but as a rough equivalent to its former studio unit, housed in the Disney Media and Entertainment Distribution division. (Yes, DMED is the Bob Chapek-created group that returning CEO Bob Iger is effectively dismantling.) It includes the sale of film and episodic television in TV\/SVOD and home entertainment (some of which was previously reported as part of the giant\u2019s media networks unit), distribution of films theatrically, licensing of music rights and its stage business. Given that $2.29 billion grosser Avatar: The Way of Water bowed Dec. 18, not all of its success is included in last year\u2019s financials. TV\/ SVOD distribution results dropped last year, \u201creflecting the shift from licensing content to third parties to distributing it on our direct-to-consumer services,\u201d the company noted. Meaning, originals sent to Disney+ and Hulu (instead of being sold to outside buyers) were a drag on the bottom line.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    <em>This story first appeared in the March 16 issue of The Hollywood Reporter magazine.\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/subscribe.hollywoodreporter.com\/sub\/?p=THR&amp;f=saleb_2&amp;s=IH2205THRS\">Click here to subscribe<\/a><\/em>.<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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