After a first quarter loss, Paramount has reason to be grateful for the profitability of Star Trek XI.
As reported by Variety, the first quarter for Paramount was a dismal one, with the studio posting a &_#36;123 million operating loss. “We were in a situation where we weren’t fully in control of our release slate,” said Viacom CEO Philippe Dauman. “We now have full control of our slate. We won’t be in a position where our big, franchise pictures are offset” by a handful of smaller, less successful films.”
“That’s why Star Trek is so important,” he added. “We greenlit Star Trek 2 several weeks before the release of 1 because we knew what we had.”
Star Trek XI continues to do well at the box office. It has earned &_#36;193 million in three weeks and is well on pace to become the highest grossing film of 2009. That position is currently held by Monsters vs. Aliens, which has been running for nine weeks.
To read more, head to the article located here.