GLENDALE: DreamWorks Animation posted revenues for the first quarter of $190.4 million, up 14.4 percent on the prior-year period, led by solid performance in the TV series and specials, consumer products and new-media segments.<\/p>\n
“I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company,” said Jeffrey Katzenberg, the CEO of DreamWorks Animation. “I’m excited to be passing the baton to Comcast, as I know they will continue to build on the foundation we’ve established over the past 22 years.”<\/p>\n
Revenues for the quarter ended March 31 from the TV series and specials segment increased to $57.0 million, compared to $18.1 million during the 2015 comparable period. The revenues increase was thanks to a significantly higher number of episodes delivered under its episodic content licensing arrangements. Segment gross profit increased to $21.1 million, up from $3.5 million in the prior-year period. The increase was primarily driven by higher revenues and lower marketing expenses.<\/p>\n
Quarterly revenues from the feature films segment were $94.3 million, lower than the $128.7 million in the prior-year period. This is because revenues a year ago were favorably impacted by the worldwide pay-TV distribution of How to Train Your Dragon 2<\/em> and Mr. Peabody and Sherman<\/em>, higher home-entertainment sales and recoveries of $6.3 million from previously established home-entertainment reserves related to sales through DWA’s former primary theatrical distributor. Segment gross profit for Q1 2016 of $26.1 million compares to $38.1 million in the prior-year period, primarily due to lower revenues.<\/p>\n Revenues from the consumer products segment increased to $21.4 million in the quarter, compared to $14.3 million in the same period last year. The increase was primarily due to revenues earned from location-based entertainment initiatives during the current quarter. Revenue for both the current and prior-year quarters also included contributions from merchandise licensing arrangements. Segment gross profit increased to $15 million from $9.4 million in the prior-year period, as revenues earned from location-based entertainment initiatives have lower associated costs.<\/p>\n In the new-media segment, revenues were $15.2 million, compared to $4.6 million in Q1 2015. This increase was primarily from the revenue generated from licensing and distribution of content, and to a lesser extent, brand sponsorship and talent management arrangements. Segment gross profit for the quarter increased to $6.5 million from $2.1 million in the prior-year period, thanks mostly to higher revenues.<\/p>\n Operating income for the quarter was $13.8 million, compared to an adjusted operating loss of $3.4 million in the prior-year period, primarily due to higher revenues and segment gross profit.<\/p>\n","protected":false},"excerpt":{"rendered":" GLENDALE: DreamWorks Animation posted revenues for the first quarter of $190.4 million, up 14.4 percent on the prior-year period, led by solid performance in the TV series and specials, consumer products and new-media segments.<\/p>\n","protected":false},"author":350,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":0,"footnotes":""},"categories":[21],"tags":[159],"class_list":["post-10033","post","type-post","status-publish","format-standard","","category-top-stories","tag-dreamworks-animation","pmpro-has-access"],"yoast_head":"\n