Mixed Q3 for Splendid Medien
COLOGNE, Germany — Revenue at German distributor-licenser Splendid Medien continued to inch up in the third quarter, but profits slipped slightly. The Cologne-based group said Thursday that it booked €6.6 million ($8.7 million) in revenue in the frame, up from €5.1 million a year ago. Its profit of €217,000 ($287,400) was down from €246,000. The figures for the first nine months of the year paint a similar picture. While revenue at Splendid climbed from €15.1 million a year ago to €17.7 million ($23.4 million), profit dropped from €900,000 to €400,000 ($529,700). But last year’s numbers were pumped up by a retransfer of €1.1 million in liability funds that Splendid set aside in connection with its legal wrangling with Gold Circle Films and LHO over German licensing revenue to “My Big Fat Greek Wedding.”
Danger for Babelsberg’s set unit
COLOGNE, Germany — Despite major job cuts and restructurings, Studio Babelsberg’s set-building division could still go under. Studio Babelsberg CEO Carl Woebcken confirmed reports Thursday that the unit, Art Department Studio Babelsberg, was in danger of closing down because of pressures from the international marketplace. “The general tendency in set building is to increasingly use subcontractors, which greatly strains the finances of our loss-making subsidiary,” Woebcken said.