Despite a 60% profit decline, Viacom reported strong Q2 performances for kidsnet Nickelodeon and the company’s Filmed Entertainment business.
The network also claimed to have all of top 10 television programs in Q2 with both of the aforementioned demos, and four of the top five preschool shows.
And according to Nickelodeon Group president Cyma Zarghami, who sat in on the media conglomerate’s second quarter Thursday conference call, a new SpongeBob SquarePants theatrical feature with Paramount is in the works, along with film adaptations of The Loud House and Henry Danger.
The film announcements come on the heels of a new Viacom strategy that will see Paramount’s film slate include co-branded releases from each of Viacom’s flagship brands, as well as Paramount-branded films. A slate of four Nick/Paramount theatrical films was announced in February, with the first, Amusement Park, set to premiere in summer 2018. It will be followed by a Nick TV series adaptation in 2019. (Paramount Pictures is now under the leadership of industry vet Jim Gianopulos, who took the reins in March.)
According to movie database IMDb, a third SpongeBob movie following 2015′s The SpongeBob Movie: Sponge Out of Water (pictured) and 2004′s The SpongeBob SquarePants Movie is expected to launch in 2019.
Looking at Viacom’s overall Q2 results, revenue increased 8% to US$3.26 billion, driven by rises in Filmed Entertainment (37% to US$895 million), Worldwide Affiliate revenue (1% domestic, 10% international) and the ongoing strength of its International Media Networks division (2% bump).
Advertising revenues, however, fell 1% to US$1.11 billion. A 4% drop in domestic advertising revenue was attributed to higher pricing and lower ratings at certain networks. The company’s 43% drop in operating income. meanwhile, related to US$280 million in restructuring and programming charges.