Total Money Invested By Studios In Movielink: $148 Million; Revenues Stagnant
By Rafat Ali - Thu 25 Oct 2007 09:56 AM PST
Not that a lot of people are interested in Movielink‘s fate anymore, after it got sold to Blockbuster (NYSE: BBI) earlier this year, but if you are from one of the five studios--MGM, Paramount, Sony (NYSE: SNE), Universal and WB--that invested a total of about $148 million in five years, then you probably are. In an 8-K filed with SEC earlier today, BB disclosed the online movie services’ always precarious finances and revenues.
Its losses for the first half of this year were $10.18 million, compared to $11.62 million in the year-ago half. Revenues for this period this year were $1.98 million, compared to $1.91 million in H106. For full year 2006, revenues were $4 million, on total losses of about $22 million. Lots more minutiae here.
Posted in: Companies, Sony, Entertainment, Movies, Money, Earnings
Tags: wb, movielink, mgm, universal, blockbuster, paramount,






