When you look at the numbers for the end of 2011 and 2012, you’d almost think they’re from two different companies. In the last three months of 2012 MGM generated net income of $40.2M, up from an $11.3M loss a year ago, on revenues of $902.6M, +561%. Privately held MGM will release more detailed information about the quarter tomorrow. But the statement out today notes that the company revenues for the entire year rose 97.4% to $1.38B with worldwide theatrical up $661M — largely due to the year-end success of Skyfall and The Hobbit: An Unexpected Journey. “With back-to-back films each grossing worldwide box office in excess of $1B, MGM now has two of the top 15 films in box office history,” CEO Gary Barber says. Television licensing revenue was up 6.2% to $395M and home entertainment revenue was up $1M to $195M. There were no new home entertainment releases, but MGM says that the operation generated $96M in Q4 with strong results from its James Bond 50th anniversary promotions.
MGM Swings To Q4 Profit With Help From ‘Skyfall’ And ‘The Hobbit’
What's Hot on Deadline
Keaton Jones Facebook Video Gone After Mom's Confederate Flag Photos Surface: Is Hollywood Still "KeatonStrong"?
Seth Rogen To Play Walter Cronkite In 'Newsflash;' David Gordon Green-Helmed Pic On CBS JFK Assassination Coverage
'Jumanji: Welcome To The Jungle' Review: Dwayne Johnson, Kevin Hart & Jack Black Are In The Game, But Laughs Don't Come Easily
Latest Business News
- Donald Trump Tweets Sen. Gillibrand Offered To “Do Anything” When “Begging” For…
- NFL Network Suspends Analysts After Sexual Harassment Accusations From Former Employee
- Saudi Arabia: Theater Owners Trade Group Has “Extensive Plans” For Kingdom’s Cinemas
- Mia Kirshner Calls On CAA To Lead (And Fund) An Effort To Combat Sexual Harassment In Hollywood
- Steve Edwards Out At ‘Good Day LA’ After 20-Plus Years
- Comcast Bows Out of Fox Sweepstakes