Welcome to the new look Pocket-lint.co.uk

Viacom profits driven by Rock Band game Q1 up 33% compared to 2007

  • rss
  • pdf
  • share
  • save
  • email
  • print
Gallery

2 May 2008 15:25 GMT / By Katie Scott

Viacom is boasting a 33% boom in profits following on the success of its MTV-branded Rock Band video game.

The company has released its financial results and says that its first-quarter profit rose to $270 million as compared to $203 million for the first three months of 2007.

The company, which owns MTV, as well as the Nickelodeon and Paramount movie studios, highlighted the success of the game.

It also said that MTV Networks had enjoyed a boom in advertising revenue.

And the revenue from the company's movie studios was also up - showing a 12% increase - coming in at $1.15 billion, boosted by $29 million in HD DVD movie sales.

Viacom is predicting the growth will continue through to 2010 and stay in the double-digits percentage-wise.

Despite these rosy results, Viacom shares have slipped 13% since the beginning of the year because of scares about the credit crunch.

Related links



Comments

(Will not be published)

  (Next time sign in to bypass ReCaptcha)

Latest in Biz

Latest on Pocket-lint.co.uk

Broadband?

Compare 50+ deals available to you

Powered by Top 10 Broadband

Pocket-lint.co.uk poll

Q. Is the new Nintendo DSi a waste of time?

Vote YES Vote NO

» LAST TIME
When asked Will your next phone have a touchscreen? 58% said yes and 42% said no