You will be redirected back to your article in seconds

Toys lead to Marvel loss

'X-Men' figures, upcoming toon and 'Spider-Man' pic brighten outlook

HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump.

Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said “X-Men” action-figure sales should help the company’s bottom line in future quarters.

“This film and other high-profile projects have driven a sharp increase in interest in our characters,” CEO Peter Cuneo said. “We are very excited by the initial sales of our ‘X-Men’ toy line and expect it to be a major success for our toy division this year.”

‘Spider’ gold

A Marvel-produced “X-Men” animated series bows on the WB network this fall, he noted. A Sony Pictures “Spider-Man” movie, based on the Marvel character, is set for release in November 2001, and Cuneo said Marvel expects to reap some related merchandising revenue by the end of the current year.

Marvel’s red ink hit $10.6 million in the latest quarter vs. $9.1 million in the same period last year.

Companywide, net revenue fell to $51 million. The revenue drop at Toy Biz was attributed to lower sales of a line of World Championship Wrestling products.

Separately Tuesday, Marvel announced a new deal with Helsinki, Finland-based Riot Entertainment to create games and other entertainment based on Marvel comic characters for wireless personal-communications devices.

More Biz

  • Jon Stewart Helps Rescue Goats That

    Jon Stewart Helps Rescue Goats That Captured New York's Attention

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • Manuela Herzer

    Manuela Herzer Cites CBS-NAI Fight in Renewed Bid for Sumner Redstone Competency Ruling

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • A trading post sports the Spotify

    Sony Music's $750 Million Spotify 'Windfall' Leaves Some Lingering Questions

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • Harvey Weinstein, with his attorney Benjamin

    Harvey Weinstein's Attorney Blasts Asia Argento's 'Hypocrisy'

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • Asia Argento arrives for the screening

    Asia Argento Is Not Facing Sexual Abuse Investigation

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • Rose McGowan Asia Argento

    Rose McGowan on Asia Argento Accusation: 'My Heart Is Broken'

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

  • Actress Asia Argento speaks about being

    Asia Argento Settled With Sexual Assault Accuser Last Year (Report)

    HOLLYWOOD — Citing a sales decline at its Toy Biz division, media group Marvel Enterprises posted a broadened, second-quarter loss Tuesday, amid a 21% overall net revenue slump. Marvel’s deal with 20th Century Fox for the “X-Men” movie has yielded scant revenue for the New York-based publisher, despite its box office success. But officials said […]

More From Our Brands

Access exclusive content