MTV and Harmonix parent company Viacom cut its losses on the Rock Band franchise in the quarter ended June 30, 2010.
The company’s Media Networks division, which houses its videogame business, saw quarterly revenue up six per cent year-over-year to $2.09 billion (£1.3b), while operating income rose 14 per cent to $789 million (£496m), “driven by higher affiliate and advertising revenues as well as lower losses from Rock Band”, the company said.
Company-wide revenue was flat at $3.3 billion (£2.1b), while operating income rose 28 per cent to $794 million (£499m), “on improving trends in the advertising market, continued strength of affiliate revenues and lower film and distribution costs for the quarter”.
Viacom blamed a decline in worldwide ancillary revenues on slow Rock Band sales for the prior quarter ended March 31, 2010.