Media powerhouse Time Warner has reported Q2 revenues of $6.4bn, an eight per cent year-on-year increase and its biggest annual jump since Q2 2008.
Its Filmed Entertainment division, which includes Warner Interactive Entertainment, saw revenues increase by eight per cent to $2.5bn. Video games revenues were increased thanks on the whole to strong sales of LEGO Harry Potter: Years1-4, which has shipped over 2.7m units.
Older release LEGO Batman has now sold over 7m units since its arrival in 2008.
Also credited were strong cinema showings from Inception, Clash of the Titans and Sex and the City 2, as well as increased TV licence fees.
Overall operating income grew 19 per cent to $1.2bn. Advertising revenues grew by 11 per cent
Time Warner delivered another quarter of strong financial and operating performance,” chairman and CEO Jeff Bewkes stated. Our revenue increased at its highest rate in two years. Our investments in high-quality content across the company continue to pay off.
Last week, Warner Bros. became the only studio in history whose films surpassed $1bn at the domestic box office for ten straight years, while its TV production business extended its streak as the number one provider of broadcast network programming.”