Strong demand for the movies Star Trek Into...
Strong demand for the movies Star Trek Into Darkness, G.I. Joe: Retaliation and World War Z on Blu-ray and DVD fueled a 24 percent year-over-year home entertainment revenue lift for Viacom in Q4 ended Sept. 30, Chief Financial Officer Wade…
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Davis said on an earnings call Thursday. Total filmed entertainment revenue grew 11 percent to $1.2 billion, mainly due to higher home entertainment and ancillary revenue, he said. Filmed entertainment operating income grew 49 percent to $291 million, he said. Total Viacom revenue grew 9 percent to $3.7 billion. Profit from continuing operations grew to $806 million, or $1.69 a share, from $643 million, or $1.24 a share, in Q4 the prior year. The “highlight” of Viacom’s fiscal year on the distribution front was its multiyear deal with Amazon to stream library content through Prime Instant Video, said CEO Philippe Dauman. The deal “demonstrated our ability to collect significant value for our content through a new growing distributor, but also to smartly orchestrate our content windowing so that we can do additional deals as new entrants come to market,” he said. The company continues to position itself to capitalize on the “changes in content consumption that are reshaping the media landscape … across multiple platforms and devices,” he said. Viacom launched branded channel apps for Nickelodeon, MTV, and more recently, VH1 and CMT during the past fiscal year, he said. It will launch apps for Comedy Central and Logo in the coming months, he said. The Nickelodeon app has “attracted more than 5 million installs alone, and each of the apps is garnering significant time spent,” he said. Viacom is also “experimenting” with how it delivers content on the apps, he said. For example, MTV recently released the complete season of its new series Wait ‘Til Next Year on its app ahead of the show’s on-air premiere, he said. Much of the video it’s delivering via apps is through its “TV Everywhere” deals, he said. Ten distributors support its authenticated apps and websites now, and “we expect to reach additional agreements soon,” he said.