TV, hit flicks buoy Constantin
German outfit logs record earnings in ’08COLOGNE, Germany — German mini-major Constantin Film booked record earnings in 2008 thanks to the boxoffice punch of in-house productions “The Baader Meinhof Complex” and “The Wave” along with stronger TV revenue.
The Munich-based producer/distributor earned €15.1 million ($19 million) last year, a 21.6% jump from 2007, and increased revenue by more than 10% to €248.5 million ($313 million).
Despite the boxoffice success of “Baader Meinhof” and “The Wave,” as well as such international acquisitions as “Step Up 2: The Streets,” Constantin’s overall theatrical and home entertainment revenue declined slightly in 2008. But the company’s TV division more than made up for it, with sales of €263 million ($331 million) compared with €244 million in 2007.
The current economic downturn makes it unlikely Constantin will match its record this year but the company is still bullish about 2009, forecasting revenue of €220 million-€240 million ($277 million-$302 million) and net profits of €10 million-€12 million ($13 million-$15 million).