{"id":119587,"date":"2021-05-06T07:33:26","date_gmt":"2021-05-06T14:33:26","guid":{"rendered":"https:\/\/www.mediaplaynews.com\/?p=119587"},"modified":"2021-05-07T04:08:03","modified_gmt":"2021-05-07T11:08:03","slug":"paramount-ups-q1-licensing-revenue-as-theatrical-craters","status":"publish","type":"post","link":"https:\/\/www.mediaplaynews.com\/paramount-ups-q1-licensing-revenue-as-theatrical-craters\/","title":{"rendered":"Paramount Ups Q1 Licensing Revenue as Theatrical Revenue Craters"},"content":{"rendered":"

With Paramount Pictures generating a record low $1 million in revenue in the first quarter (ended March 31), the studio is offsetting ongoing pandemic-related box office declines by licensing content to Paramount+ and other streaming platforms.<\/p>\n

Paramount, which had no releases in the quarter, generated $167 million in theatrical revenue during the previous-year period prior to the pandemic.<\/p>\n

As a result, the studio bumped up by nearly 55% “licensing and other” segment revenue to $996 million, from $644 million in the previous-year period. The unit now includes Paramount Home Entertainment revenue from the sales and rental of movies. The home entertainment distributor had revenue of $174 million in the previous-year period.<\/p>\n

“Licensing and other” revenue increased in large part from the distribution of content to Paramount+ and third parties, as well as revenue from the licensing of Miramax movies.<\/p>\n

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Adjusted pre-tax earnings increased $177 million primarily due to higher licensing revenue compared to the prior-year period, which included higher distribution costs associated with theatrical releases during the first quarter of 2020 prior to the pandemic.<\/p>\n

The studio’s last major theatrical hits included Sonic the <\/em>Hedgehog<\/em>, which generated $319 million worldwide in 2020, and Bumblebee<\/em>, with $468 million following its box office debut on Dec. 19, 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

With Paramount Pictures generating a record low $1 million in revenue in the first quarter (ended March 31), the studio is offsetting ongoing pandemic-related box office declines by licensing content to Paramount+ and other streaming platforms. Paramount, which had no releases in the quarter, generated $167 million in theatrical revenue during the previous-year period prior … Continue reading “Paramount Ups Q1 Licensing Revenue as Theatrical Revenue Craters”<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":22099,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[166,3,271],"tags":[626,8606,5832,50],"coauthors":[65],"class_list":["post-119587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-news","category-studios","tag-box-office","tag-pandemic","tag-paramount-home-entertainment","tag-paramount-pictures"],"acf":[],"yoast_head":"\nParamount Ups Q1 Licensing Revenue as Theatrical Revenue Craters - Media Play News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mediaplaynews.com\/paramount-ups-q1-licensing-revenue-as-theatrical-craters\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paramount Ups Q1 Licensing Revenue as Theatrical Revenue Craters - Media Play News\" \/>\n<meta property=\"og:description\" content=\"With Paramount Pictures generating a record low $1 million in revenue in the first quarter (ended March 31), the studio is offsetting ongoing pandemic-related box office declines by licensing content to Paramount+ and other streaming platforms. 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