The box office success of 20th Centruy Fox’s The Simpsons Movie contributed largely to a 23% spike in media conglomerate News Corp.’s first quarter operating income, which hit $1.05 billion. The big-screen outing for Homer and family was instrumental in driving double-digit percentage increases in the company’s filmed entertainment business, which brought in net revenue of $362 million, a 51% from the first quarter of fiscal 2007.
‘The strength of our financial results during the first quarter is yet another
illustration of our ability to deliver sustained growth while concurrently investing in tomorrow’s profit generators,’ says News Corp. chairman and CEO Rupert Murdock. ‘The 19% revenue growth and 23% operating income growth in the quarter was achieved despite spending to expand our cable portfolio both domestically and internationally; despite continued investment in broadening our internet offerings; and despite additional costs associated with upgrading the color capacity at our newspaper group.’
The Simpsons Movie surpassed even the filmmakers’ expectations, grossing more than $524 million worldwide. Also rising to the occasion over the summer was the Die Hard sequel Live Free or Die Hard, which surpassed $375 million worldwide, while additional revenues poured in from the continued global home entertainment success of Eragon and Night at the Museum, as well as pay-TV sales of Little Miss Sunshine.
Twentieth Century Fox Television reported increased contributions over the first
quarter of 2006, primarily reflecting continued momentum in home entertainment
sales and international television income from the animated series Family Guy and the live-action hit Prison Break.
