MGM Q1 Revenue Dips Without ‘Spectre’ Tailwinds
Metro-Goldwyn-Mayer’s revenue dipped 15 percent and net income fell 41 percent for the three months ended March 31, as the mini-major studio didn’t benefit from the overhang of a holiday season James Bond film, as it did last year.
New episodes of some of MGM’s most prominent TV shows, including “Survivor,” “The Voice” and “Vikings” helped boost its revenue.
During the quarter, MGM became the first studio to sign a content partnership with disappearing message social network Snapchat, which will have the company develop original shows for its Snapchat Discover platform.