EuropaCorp Quarterly Revenue Jumps on Strength of 'Taken 3' and 'Lucy'
Revenue increased nearly 90 percent in the fiscal third quarter with the two hit films.
Luc Besson's EuropaCorp revenue rose nearly 90 percent in the company's fiscal third quarter on the strength of international sales for the final installment of the Taken series and DVD sales of the Scarlett Johnasson-starrer Lucy.
"This quarter was mainly marked by sustained activity on international sales, driven by the first deliveries of Taken 3," the company said in a statement, noting that it was mainly the deal with U.S. distributor 20th Century Fox that boosted sales.
On the strength of the two actioners, revenue came in at $71.1 million (€62.4 million), up 88 percent from $37.8 million (€33.2 million) in the third quarter of 2013. International sales jumped to $38.5 million (€33.8 million) from $2.8 million (€2.5 million) in the same timeframe in 2013.
DVD sales were $8.3 million (€7.3 million) in the quarter, much of it credited to the sci-fi thriller Lucy.
The last of the Liam Neeson trilogy has brought in more than $270 million at the worldwide box office so far, and its financial success will continue to help the company in the fourth fiscal quarter, the company predicts.
With no French releases in the quarter, that sector was particularly low, numbering only €0.9 million on the residual revenue from the release of Saint Laurent last Sept.
The company's next big action film, the reboot of the Transporter series without star Jason Statham, will drop in the next fiscal year as part of its new joint venture distribution company Relativity EuropaCorp Distribution (RED).
The company notes that other English language films with high potential are going into production, namely Kevin Spacey-starrer Nine Lives, directed by Barry Sonnenfeld. Shut In, starring Naomi Watts, and Warriors Gate, the first Chinese-French co-production between EuropaCorp and Fundamental Films will also go into production soon.
French-language films Bis, starring beloved comedians Franck Dubosc and Kad Merad, and comedy The Gorillas starring Manu Payet and rapper turned actor Joey Starr will be released in February and April respectively.
Its TV arm generated €6.3 million, mainly on the delivery of the final season of spy thriller series No Limit to France' s top-rated network TF1, which will air in the fourth quarter. It will deliver the first episode of its Mary Higgins Clark miniseries as well as start production on Section Zero for CanalPlus.