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Warner, Universal, and Sony Pictures Post Profits for the Quarter
Fri Nov 04, 2011 at 12:00 PM ETTags: Warner Bros, Sony Pictures, Universal, Industry Trends (all tags)
Despite plenty of panic, movie studios are doing just fine.
Though movie studios speak doom because of piracy and low attendance rates, they've done incredibly well in the second quarter of 2011.
Warner Bros. did particularly well, bringing in $524 million, spurred on by the final 'Harry Potter' movie. That's a 162 percent increase over 2010, when they brought in $324 million. In all, the company is expected to have 19 percent greater revenue in 2011.
Sony Pictures brought in a ton of cash too - an income of $278 million. It's a good chunk of change, especially when compared to last year's loss of $58 million. Universal brought in a 20 percent increase that was helped along by DVD and Blu-ray sales.
Source: Home Media Magazine
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