Warner Bros. Earnings Up Partly Due To Arkham City And Mortal Kombat
TimeWarner is an enormous corporation with many divisions, and it boosted revenues 8 percent to $29 billion in the 2011 fiscal year. Some of that cheese came straight from Batman and Liu Kang.
In the fourth quarter and full year earnings statement, chairman and CEO Jeff Bewkes had a lot to brag about: “In 2011, Time Warner had an ambitious agenda and we accomplished what we set out to do and more. We increased revenues 8%, Adjusted Operating Income 9%, and Adjusted EPS by 20%, which means we more than doubled Adjusted EPS over the past three years."
TimeWarner owns Turner Broadcasting, HBO, movies (the Harry Potter franchise), magazines (Time, Sports Illustrated), and more, but the part we care about is the gaming sector, which is under the "Filmed Entertainment" branch. Since it's lumped in with movies, we don't get an exact picture of the gaming numbers, but the whole division's revenues rose 9 percent to $12.6 billion for the full year.
Warner names "Batman: Arkham City, Mortal Kombat 9 and several LEGO titles" as key gaming franchises contributing to this success. "In 2011, Batman: Arkham City shipped more than 6 million units worldwide and was one of the top 10 best-selling games in North America," the statement boasts.
As far as Q4 specifically, revenues rose 7 percent to $3.9 billion "due mainly to stronger home entertainment and videogame slates and new subscription video-on-demand agreements."