×
You will be redirected back to your article in seconds

‘Spectre’ Lifts MGM Earnings by 62%

Citing strong performance by James Bond movie “Spectre,” MGM Holdings has reported a 62% hike in  profits to $252 million for 2015.

Privately held MGM also reported revenue of $1.56 billion and a record adjusted EBITDA of $381 million for the year.

“MGM delivered another remarkable year of outstanding financial results,” said MGM chairman and CEO Gary Barber in a statement Thursday.

“Our ability to achieve three consecutive years of record profits is a credit to the quality of our content, the depth of our extensive library, and strong execution by our management team. Our acquisition of United Artists Media Group and addition of Mark Burnett to our executive team further bolsters MGM’s position as a leading provider of premium content.”

Spectre,” the 24th James Bond movie, generated $880 million in worldwide grosses, including $200 million in the U.S.

Adjusted EBITDA was up 5% over 2014 and is the highest in MGM’s history. The 2015 revenue of $1.56 billion improved 8% over the prior year.

“Acquisition of remaining 45% interests in United Artists Media Group (UAMG) and appointment of Mark Burnett as president of MGM Television is anticipated to grow MGM’s television content business in 2016 and beyond,” MGM said.

MGM has interests in “Teen Wolf,” “Vikings,” “Fargo,” “Survivor,” “The Voice” and “Shark Tank.”

The company was partnered on “Spectre” with Sony. Its other 2015 titles included three with Warner Bros. — “Creed,” “Max” and “Hot Pursuit” — along with “Hot Tub Time Machine 2” with Paramount and “Poltergeist” with Fox.

More Film

  • Captain Marvel

    Box Office: 'Captain Marvel' Shatters $900 Million Milestone

    Brie Larson’s “Captain Marvel” continues to do heroic business. In its latest box office milestone, the female-fronted superhero tentpole zoomed past $900 million in ticket sales worldwide. “Captain Marvel” brought in a mighty $87 million globally this weekend, including $52 million from international territories. It has now generated $589 million overseas for a global haul [...]

  • Us - Lupita Nyong’o - cr:

    Box Office: Jordan Peele's 'Us' Stuns With $70 Million Opening Weekend

    Talk about scary good. Universal’s “Us,” the second directorial effort from Jordan Peele, pulled off a stunning debut, generating $70 million from 3,741 North American locations. That haul is enough to land it the second-best opening weekend of the year behind just Disney’s “Captain Marvel” ($153 million). The psychological thriller about a family confronted by [...]

  • 'Shazam!' Review: Zachary Levi is Pure

    Film Review: 'Shazam!'

    In “Shazam!,” Zachary Levi brings off something so winning it’s irresistible. He plays a square-jawed, rippling-muscled man of might, with a cheesy Day-Glo lighting bolt affixed to his chest, who projects an insanely wholesome and old-fashioned idea of what a superhero can be. But he’s also playing a breathless teenage kid on the inside, and [...]

  • WGA Agents Contract Tug of War

    Showrunners, Screenwriters Back WGA in Agency Battle, Sides to Meet Again Tuesday

    More than 750 showrunners and screenwriters have backed the WGA’s battle against talent agencies taking packaging fees and other changes to the rules governing the business relationship between agents and writers. The letter of support issued Saturday is significant because of the immense clout showrunners and prominent screenwriters possess in Hollywood. Several showrunners had recently [...]

  • Doppelgänger Red (Lupita Nyong'o) and Adelaide

    Box Office: 'Us' on Track for Second-Highest Debut of 2019 With $67 Million

    Jordan Peele’s “Us” is on its way to scaring up one of the biggest debuts of 2019, with an estimated $67 million from 3,741 North American locations. Should estimates hold, “Us” will be able to claim several milestones: the highest debut for an original horror movie (the biggest launch for any horror pic goes to [...]

  • NF_D_JGN-D6-2160.cr2

    Film Review: 'The Dirt'

    A long time ago, the words sex, drugs, and rock ‘n’ roll carried a hint of danger. The lifestyle did, too, but I’m talking about the phrase. It used to sound cool (back around the time the word “cool” sounded cool). But sex, drugs, and rock ‘n’ roll has long since passed into the realm [...]

More From Our Brands

Access exclusive content