Although Luc Besson’s $180 million “Valerian and the City of a Thousand Planets” fell short of box office expectations, the science fiction film drove the annual revenue of Besson’s company EuropaCorp to reach €223.7 million ($262.2 million), a 60% year-on-year increase.
EuropaCorp’s consolidated revenue figures for the financial year 2017-2018, which ended on March 31, were reported today by the company which is listed on the Paris stock exchange. Results have yet to be audited. EuropaCorp did not address the recent rape allegations filed against Besson in its official statement.
The company’s international sales business increased by 57.1% to €76.7 million ($90 million), representing about 34% of the total turnover for the last fiscal year.
“Valerian” boosted the company’s revenue from theatrical distribution, as well as video and VOD sales in France and in the U.S.
EuropaCorp’s TV and subscription-based VOD sales in France and the U.S. also rose by 35% to €40.5 million ($47.4 million) during the 2017-2018 fiscal year.
The delivery of “Taken”‘s second season, meanwhile, helped increase the company’s TV sales revenue by 18% to €22.7 million ($26.6 million).
The company said it would be producing two to three English-language films and about two French-language films per year, on top of producing English-language TV series.
The company’s slate of upcoming releases include Thomas Vinterberg’s “Kursk” with Matthias Schoenaerts, Colin Firth and Léa Seydoux; and Besson’s “Anna” with Luke Evans, Helen Mirren and Cillian Murphy. The company is also set to handle French distribution for Guillaume Canet’s “Little White Lies 2” and David Lowery’s “The Old Man and the Gun” with Robert Redford and Casey Affleck.
EuropaCorp’s TV series roster include “AI (Artificial Intelligence),” “Gray,” based on David Baldacci’s original concept, “The Extraordinary Adventures of Adele Blanc Sec,” based on Jacques Tardi’s classic French comic book and “American Flagg!,” based on Howard Chaykin’s comic.
The company is currently looking to raise capital to repay its debt which is evaluated at more than €230 million ($270 million).