Despite posting higher revenues for its first quarter, and marking growth in its Feature Film segment, DreamWorks Animation posted a US$54.8 million loss for the period ended March 31, 2015.
Overall, the studio experienced a 13% rise in revenues to US$166.5 million.
DreamWorks’ feature film segment saw revenues increase by 16% to US$128 million with a gross profit of US$41 million. How to Train Your Dragon 2 and Mr. Peabody and Sherman, as well as older library titles like Rise of the Guardians and How to Train Your Dragon, helped drive the returns.
As its lone release of 2015, Home also contributed to Q1 earnings. To date, it has grossed close to US$300 million at the box office worldwide. But its March 27 release date means much of the film’s profit will be realized in DreamWorks’ second quarter.
Sales for DWA’s Television Series and Specials segment were stable at US$18 million, with the majority of revenues being generated by episodic series sales. The unit’s gross profit dropped to US$3.5 million from last year’s US$5.8 million, primarily due to higher up-front marketing costs attributed to launching new series.
New Media Segment revenue was up by 12% from the year before to US$4.6 million. DWA attributes the increase to its online channels, talent management company Big Frame (acquired in April 2014, now a wholly-owned subsidiary of AwesomenessTV), and the release of AwesomenessTV’s tween- and teen-skewing movie Expelled.
DWA also took a US$31.9 million one-time hit for charges related to its animation studio restructure in Q1, in which the company announced a number of layoffs and the closure of its Redwood City facility.