DVD sales lift Viacom earnings

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By Jennifer Netherby -- Video Business, 8/2/2007

AUG. 2 | DVD sales of Charlotte’s Web, DreamGirls and Norbit helped drive a 35% increase in home entertainment revenue at Viacom in the last quarter, the company said Thursday.

Home entertainment revenue in the studio entertainment division reached $545 million in the second quarter ended June 30. The company said the growth in home entertainment revenue was partially due to a bigger release slate during the period compared to the prior year. (Get the webcast.)

Overall revenue in the filmed entertainment division was up 20% to $1.3 billion.

Operating income in the segment was up 20% to $17 million.

Overall, Viacom saw a slight drop in net income, which was off 1% at $434 million due to one-time restructuring and tax charges.

The strong DVD performance along with a strong theatrical slate led by distribution of DreamWorks Animation’s Shrek the Third helped push overall Viacom revenue up 13% to $3.19 billion.