Paramount passes $1 bil mark overseas
EmptyParamount Pictures International, the overseas distribution division of Paramount Pictures, topped $1 billion at the foreign boxoffice this past week, marking the first time in industry history that five studios have crossed that threshold in the same year (HR 8/1).
All five companies, fueled by a strong array of summer tentpoles, reached billionaire status in July, with PPI joining Sony Pictures Releasing International, Warner Bros. Pictures International, Walt Disney Studios Motion Pictures International and 20th Century Fox International just as the month came to an end.
DreamWorks Animation's "Shrek the Third" and DreamWorks/Paramount's "Transformers" served as the locomotives that gained Paramount a listing in the international $1 billion boxoffice club for the first time.
This is London-based PPI's first year as a stand-alone company after the breakup of United International Pictures, in which Paramount and Universal (now Universal Pictures International) were partners.