Media company Viacom Inc. disappointed Wall Street with lower revenue in its fiscal first quarter, particularly at its Hollywood film studio, Paramount Pictures, which bombed at the box office.
In past quarters, Paramount could count on being propped up by the company's cash cow MTV and Nickelodeon television networks. But those networks are struggling to reverse ratings slides. ...
Tom Cruise's "Jack Reacher" and Denzel Washington's "Flight" could not conceal the mess created by the "Rise of the Guardians" flop. ...
Paramount/Viacom only releases DreamWorks Animation features and takes a percentage. But Viacom was used to a percentage of a big number from big hits. Not, however, this time. Guardians was an under-performer, and hurt Paramount's bottom line.
Thirty years ago, animated releases were very minor events. Now that they've become big business for Hollywood, one that fails to reach a worldwide gross of $500 million becomes a catastrophe.
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1 comments:
these days animated movies have become a very big industry the main cause is that these movies are really stress buster and people love to watch them
Alex Frisch
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