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Funimation's Revenues Drive Navarre 2Q Financials

posted on 2008-11-02 11:26 EST
Licenses, digital pacts behind 6.5% sales rise for Navarre's publishing segment

Navarre Corporation, the parent company of the anime licensing and distribution company FUNimation, has announced that second quarter net sales for all of its units grew 18.5% from the same period last year. The total figure for the three months from July to September was US$170.3 million, compared to last year's US$143.7 million.

Navarre CEO Gary Deacon said that there were "significant increases in sales of anime content" within Navarre's publishing segment that includes FUNimation, Encore, and BCI. Net sales for the segment were US$28.8 million, up US$1.8 million, and FUNimation accounted for most of the increase. This was driven by the acquisition of a number of new licenses, as well as the rights to distribute series previously licensed in the United States by other companies, such as Hellsing Ultimate and Devil May Cry. FUNimation's aggressive pursuit of deals to make its series available for digital distribution via YouTube, Joost, iTunes, the XBox Live service, and other channels also had a positive impact. Year-to-date sales, however, stood at US$56.2 million, somewhat below last year's US$56.7 million.


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