Revenue Up 3 Percent, Profit Steady at Germany’s Splendid Medien
BERLIN – The BBC series Sherlock and Finnish “Nazis from space” film Iron Sky helped boost revenue at German distributor Splendid Medien, which saw turnover increase 3 percent to $ million (€21.7 million) in the first half of this year. Net profit at the Cologne-based group held steady at $ million (€1.6 million), just below last year’s figure.
Iron Sky was Splendid’s top theatrical performer for the period, earning more than $4 million at the German box office. Sherlock, which stars Benedict Cumberbatch as Sherlock Holmes and Martin Freeman as sidekick Watson, was the company’s top video title.
For the full year, Spendid is forecasting revenues of between $56 million - $61 million (€45 million - €49 million) and operating profits of between $3.4 million - $4 million (€2.7 million - €3.2 million). Splendid is hoping for big things from Sylvester Stallone actioner The Expendables 2, which opens in Germany this weekend. The group is also focusing on expanding its VOD business videociety, extending its online offering to allow cloud-based electronic sell-through of select titles.