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What earnings reports reveal about entertainment

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The Associated Press 7:31 PM Wednesday, February 8, 2012

Here is a summary of recent earnings reports for selected entertainment companies:

Jan. 25: Netflix Inc. discloses that it has regained almost as many customers as it lost following an unpopular price increase, signaling that the video subscription service is healing from its self-inflicted wounds. Netflix ended December with 24.4 million subscribers in the U.S. That was 600,000 more than at the end of September. It had lost 800,000 subscribers last summer after it raised its U.S. prices as much as 60 percent.

Feb. 2: Viacom Inc. says revenue at its Paramount Pictures movie studio rose slightly on strong box-office results from "Paranormal Activity 3" and "Mission Impossible — Ghost Protocol." At the TV networks, Viacom's larger and more profitable division, results were buoyed by an increase in fees from cable companies and online streaming services like Netflix.

Sony Corp. says theatrical revenue at its movie studio rose because more movies were released in the last three months of 2011 compared with the previous year. The company says home entertainment revenue decreased because of fewer releases, though ""The Smurfs" sold well.

Monday: Coinstar Inc., owner of Redbox, says its quarterly earnings nearly tripled as its Redbox kiosks for renting DVDs picked up customers who stopped getting their discs through Netflix's rival service. The performance was far better than analysts projected.

Tuesday: The Walt Disney Co. says movie studio revenue fell because it released fewer big films than in past years. It also experienced a dip in sales of DVDs. The company got more fees from distributors of ESPN, even as ad revenue there and at the broadcast network ABC was flat.

Wednesday: Time Warner Inc. reports a strong fourth quarter and expects growth to continue even with the end of the Harry Potter franchise. The most-recent quarter benefited from the home video release of the final Harry Potter movie.

News Corp. says net income grew by nearly two-thirds in the latest quarter, despite expenses related to ongoing phone hacking investigations of its U.K. newspaper unit. Thanks to growth at pay TV channels like Fox News and FX and better results from its movie studio, revenue in the quarter rose 2 percent.

Coming up:

Thursday: Sirius XM Radio Inc.

Feb. 15: Comcast Corp., CBS Corp.

Feb. 21: CC Media Holdings Inc. and its subsidiaries, Clear Channel Communications Inc. and Clear Channel Outdoor Holdings Inc.

Feb. 23: TiVo Inc.

Feb. 28: DreamWorks Animation SKG Inc.

Unknown: Lions Gate Entertainment Corp.

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February 09, 2012 12:28 AM EST

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