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Paramount’s ‘Licensing/Other’ Q4 Segment Revenue Dropped 32% to $566 Million Media Play News

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Mission: Impossible — Dead Reckoning Part One

February 28, 2024

Paramount Global Feb. 28 reported “licensing and other” fourth quarter (ended Dec. 31, 2023) filmed entertainment segment revenue of $566 million, which was down 32% from revenue of $833 million in the previous-year period.

The business unit, which includes Paramount Home Entertainment, said the revenue decrease was primarily due to last year’s success of Top Gun: Maverick in the digital home entertainment market, and the licensing of Halloween Ends in 2022, and lower revenue from studio rentals and production services as a result of last summer’s Hollywood labor strikes.

Theatrical revenue dropped 20% to $78 million from $97 million in the prior-year period. Adverting revenue plummeted 50% to $3 million from $6 million.

For the fiscal year, the filmed entertainment business segment continued to drive considerable value across the company, including in theatrical, streaming and licensing. In 2023, Paramount Pictures films generated $2 billion at the global box office and delivered five No. 1 debuts at the North American box office.

Mission: Impossible — Dead Reckoning Part One and Transformers : Rise of the Beasts topped all theatrical and home entertainment releases with $172.1 million and $157 million at the North American box office, respectively.

Erik Gruenwedel

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