On November 9th, Viacom held their Q3 2016 (technically their Q4, full year) earnings call. Here are the highlights
Change in Leadership:
Tom Dooley, the current CEO, will step down next week. Robert Bakish, who managed Viacom’s international business, will take over.
Financials – Total:
Full year total revenue of $12.5B was 6% lower than the $13.3B in FY 2015. Total revenue for the quarter was $3.2B down 15% YoY.
On October 27th, Twitter held their Q3 2016 earnings call. Here are the top 6 things you should know:
1. Slight Increase in Revenue: Total revenue was up only 8% YoY and 2% sequentially to $616MM. Advertising made up 88% of the total at $545MM. Data Licensing and Other brought in $71MM.
Continue reading “Twitter Q3 2016 Earnings Call: 6 Things You Should Know”
Apple reported their FY 16 4th Quarter results on October 25th. Here are 8 things you should know:
1. FY 2016 Revenue was $216B: If Apple was a country, they’d be the 47th largest according GDP, ahead of Portugal, Vietnam and Greece. This was down nearly 8% from 2015 ($234B).
2. Quarterly Revenue Down 9% YoY: Revenue for the quarter was $46.9B, down from $51.5B last year.
Continue reading “Apple Reports Quarterly Earnings: 8 Things You Should Know”
Yesterday, Netflix held their Q3 quarterly earnings call. Here are the Top 10 things you should know:
1. Over $2B in Streaming Revenue: For the first time they crossed over the $2B mark in quarterly streaming revenue. Domestic streaming was $1.3B, an 8% increase from the previous quarter and up 23% YoY. International streaming revenue of $.853B was 40% of the total, and 13% higher from Q2 and an impressive 65% growth YoY.
Continue reading “Netflix Reported Q3 Earnings: 10 Things You Should Know”
Starting next week, through the second week of November will be the quarterly earnings conference calls for the major entertainment, tech and telecom companies. The chart below has the complete schedule. As usual, Netflix will kick things off first, with their Monday 5PM ET call.
Showbiz Brief will have a write up after each call.
| Company | DOW | Date | Time |
| Netflix | Mon | Oct 17 | 5:00pm ET |
| Verizon | Thu | Oct 20 | 8:30am ET |
| AT&T | Tue | Oct 25 | 4:30pm ET |
| Apple | Tue | Oct 25 | 5:00pm ET |
| Comcast | Wed | Oct 26 | 8:30am ET |
| Amazon | Thu | Oct 27 | 5:30pm ET |
| Alphabet | Thu | Oct 27 | 4:30pm ET |
| Thu | Oct 27 | 5:00pm ET | |
| Regal Entertainment | Thu | Oct 27 | 4:30pm ET |
| Discovery | Tue | Nov 01 | 8:30am ET |
| Sony Corp | Tue | Nov 01 | 4:15am ET |
| Frontier Communications | Tue | Nov 01 | 4:30pm ET |
| Time Warner | Wed | Nov 02 | 8:30am ET |
| 21st Century Fox | Wed | Nov 02 | 4:00pm ET |
| Wed | Nov 02 | 5:00pm ET | |
| Charter | Thu | Nov 03 | 10:00am ET |
| CBS | Thu | Nov 03 | 4:30pm ET |
| Lionsgate | Thu | Nov 03 | 5:00pm ET |
| AMC Networks | Thu | Nov 03 | 11:00am ET |
| Scripps Networks | Mon | Nov 07 | 11:00am ET |
| Viacom | Wed | Nov 09 | 8:30am ET |
| Disney | Thu | Nov 10 | 5:00pm ET |
| Altice | Thu | Nov 10 | TBD |
| AMC Entertainment | TBD | ||
| Cinemark | TBD | ||
| Dish Network Corp | TBD |
Below are my key takeaways from the Sony Q1 2016 Earnings Call on July 29:
Summary:
Consolidated revenue dropped 11% YoY, operating income was down 42% and net income was off 74%. The reasons for the bad results were the Kumamoto Earthquake in April, a decrease in demand for image sensors for mobile, a reduction in mid-range smartphone unit sales and negative effects of currency exchange
On the positive side, Uncharted 4 helped Game & Network Services segment rise by 14% and Angry Birds contributed to the Pictures Segment 7% gain with their $347MM global take.
Below are my key takeaways from the Charter Q2 2016 Earnings Call on Aug 9:
Summary:
CEO Tom Rutledge’s opening statement: “On May 18th we closed our transaction with Time Warner Cable and Bright House Networks creating a new company with a bigger and a significantly more concentrated footprint giving us the local and national scale to innovate and grow faster. Our high capacity network now reaches nearly 49MM homes and business and we have over 25MM residential and business customers in attractive markets.”
Bought Time Warner Cable and Bright House Networks for approximately $67,000MM. The new company will have over 25MM customers in 41 states and be marketed under the Charter Spectrum brand name. They will be the second-largest U.S. broadband provider and third-largest video provider.
Total Q2 revenue for the new company was $9,988MM, a 6.6% YoY increase. Here’s a breakdown by segment:
Below are my key takeaways from the Disney Q3 2016 Earnings Call on Aug 9:
Summary:
Bob Iger, CEO, said “two things are clear: the multi-channel bundle delivers the most value to us, and remains a great value proposition to consumers. Therefore, our top priority is to support it, and to do what we can to maintain or enhance its value to customers. We also know that new platforms and new entrants in the digital video space are offering consumers more flexibility and variety, with exciting new products and impressive user experiences. And we must create or take advantage of these new opportunities, in ways that are complementary to the multi-channel offering.”
Total Revenue grew 9% in the quarter to $14,277MM. Net Income was up 5% YoY to $2,597MM resulting in a Diluted EPS of $1.59, compared to $1.45 a share last year.
Media Networks’ revenue of $5,906MM (made up of Cable Networks $4,200MM and Broadcasting $1,706MM) was 41% of the total and a 2% increase YoY. ESPN saw revenue growth due to contractual rate hikes and an increase in ad units sold thanks to an additional NBA finals game. ESPN programming costs went up because of renewals for The Masters and international soccer rights, along with contractual rate hikes for NBA and MLB. Disney Channel and Freeform (formerly Disney Family) gained from higher affiliate revenue, but were down overall because of a decrease in program sales.
Continue reading “Q2 2016 (their Q3) – Disney Earnings Call Summary”
Below are my key takeaways from the AMC Entertainment Q2 2016 Earnings Call on Aug 1:
Summary:
Adam Aron, CEO, said second quarter results were “much more challenging for AMC for several reasons.” For one, last year’s second quarter take of $3,100MM was an all time industry record, while several films disappointed in Q2 2016. There were more family movies which meant more discounted tickets for younger movie goers. And IMAX results showed a double digit weakness due to weak IMAX films.
Total revenue was down 7% in the quarter, to $764MM, compared to last year’s $821MM. Admission revenue was $481MM, down 10% from $533MM. Concession revenue was down only 3% to $243MM, from last year’s $251MM. Online ticketing fees increased double digit YoY.
Attendance was 50.0MM, down 7% YoY. Avg. ticket price was $9.63 and avg. concession per person was actually up nearly 5% to $4.87, the highest in company history. Q2 attendance per screen was down down 12% YoY and box office revenue per screen was down 10.7%.
Continue reading “Q2 2016 – AMC Entertainment Holdings, Inc. Earnings Call Summary”
Below are my key takeaways from the Cinemark Q2 2016 Earnings Call on Aug 9:
Summary:
Mark Zoradi, CEO, said, “Cinemark was again able to surpass the North American Industry Box Office performance by 120 basis points in the 2nd quarter of 2016. Our US circuit has now exceeded the North American industry for 27 out of past 30 quarters.”
Total Revenue fell 7% YoY to $744MM. Admission revenue dropped 9.3% to $456MM and concessions was at $254, down 2.2%. Total US revenue was $561MM, down 32MM from last year’s $592MM. International was also down 24MM to $188MM.
Total US attendance was 46MM, compared to 49MM in Q2 2015. The avg. US ticket price was $7.59, down slightly from the $7.67 last year.
The one bright spot was US concessions per patron, which increased 7% to $4.26. This is a domestic all time high and shows 38 consecutive quarters of growth, the longest in the industry. The main reason is the increased purchase incidences which was accomplished through creative floor design, expanded merchandising display and faster checkout times.
Opened 21 screens in the US and 23 internationally to end at 5,888 total screens in 522 theaters. 40% of theaters worldwide have enhanced concessions and 15% serve alcohol.
Continue reading “Q2 2016 – Cinemark Holdings, Inc. Earnings Call Summary”
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