‘Rise of the Guardians’ Rebounds for DreamWorks Animation
“Rise of the Guardians” may have disappointed at the box office, but is turning out to be a big seller on homevideo.
The animated film, which earned just $304 million worldwide in the fall, has sold around 3.2 million units on disc and as digital downloads since March, contributing $9.6 million in revenue to DWA’s first quarter results, which were announced Tuesday.
The results doubled internal sales projections at DWA and Paramount, which released the film across homevideo platforms.
“Rise of the Guardians’” homevid performance helped lift DWA’s first quarter results, besting analysts’ expectations for the three-month period that wrapped March 31, during which it posted $134.6 million in revenue and profits of $5.6 million (down from $9 million for the same year-ago period). Wall Street had expected revenue to come in at around $99 million.
“It really is a showstopper,” DreamWorks Animation CEO Jeffrey Katzenberg told Variety. “There’s no other way of categorizing it. The performance of ‘Guardians’ was significantly above the distributor’s projects, significantly above our internal projections and above the purchase intent.”