AfterDawn: News

Time Warner revenue falls 8% in first quarter

First quarter revenue from Time Warner's Filmed Entertainment division, which includes motion picture, home video, and television production and distribution, was down more than $200 million from the same period last year. Despite the drop, profits for the division were up 10%.

The news wasn't as good for other divisions. While income for their Network Division, which includes of Turner Broadcasting and HBO, saw more than a 5% increase in revenue, the Publishing and AOL divisions' revenue dropped by half a billion dollars combined.



Total revenue fell fell $525 million, resulting in a profit of just under $1.2 billion.

Although this is another clear sign that the entertainment industry is being affected by global economic conditions it also shows that they are still doing very well. It's certainly better than their former music division, Warner Music Group, did over the same period.

Last week WMG reported a 17% drop in revenue compared to 2008.

Written by: Rich Fiscus @ 13 May 2009 1:03

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• 5 comments

• Blackjax

  "Argh... 1.2 billion I thought we got it all at 525 million?! Hoist the flag mateys we have work to be done!"
  
  Blackbeard
  
  
  
  
  
  
  Yes I know it was a poor attempt at sarcasm!

  13.5.2009 04:08 #1

• djstnt

  money scam edited by ddp

  13.5.2009 13:55 #2

• tavek

  Well if they would stop making those ocenas 21 movies and Goerge clooney over paid along with Julie robert films they might actually make some cash.
  Get with teh times, dont over pay actors that films bomb on.
  Batman is their only cash cow now.

  13.5.2009 15:12 #3

• ddp

  djstnt, lightning struck!!! post edited.

  13.5.2009 15:53 #4

• ripxrush

  WIERD! making less money in a recession??? strange! Maybe thats why my company hasn't hired anyone new!

  13.5.2009 21:50 #5