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
'Avengers: Infinity War' Already The Best-Selling Superhero Movie In Advance Ticket Sales, Beating 'Black Panther'
Ellen Barkin Says "Never Get Into An Elevator Alone With Terry Gilliam" After His Criticism Of #MeToo Movement
Latest Business News
- Ellen Barkin Says “Never Get Into An Elevator Alone With Terry Gilliam” After His Criticism Of #MeToo Movement
- Kathy Griffin Comeback Show At Carnegie Hall Nearly Sells Out In A Day
- Trump-Linked Cambridge Analytica Stole Data From 50M Facebook Users And “Targeted Their Inner Demons”…
- Charlize Theron Says Arming Teachers With Guns Is “So Outrageous”
- Attorney General Jeff Sessions Fires FBI Deputy Director Andrew McCabe
- Hispanic Group Urges Netflix To Give ‘One Day At A Time’ A Season 3