Apparently Netflix series are having a positive financial impact on the studios creating them. This is at least the case for Gaumont, which is responsible for Hemlock Grove, the Eli Roth-produced werewolf mystery series that Netflix released earlier this year.
In fact, the studio credits the show, along with its NBC series Hannibal for a 57% revenue increase as its film division stumbled.
The Hollywood Reporter reports:
Hemlock Grove and Hannibal have boosted the bottom line for French mini-major studio Gaumont, with the studio’s revenue up 57 percent through the third quarter, which it attributed to the strength of its new LA-based TV production arm. Revenues totaled $170.2 million (€123.6 million) through Sept. 30 over $108 million (€78.5 million) in the same period in 2012.
Gaumont International Television (GIT) brought in $78.6 million (€57.1 million) for the group. Its Netflix and NBC hits propped up the historic studio, which saw its film section stumble slightly. Film division revenues were down to $87.4 million (€63.5 million) from $101.3 million (€73.6 million) year-over-year, with a steep 21 percent decline in the French home video market.
Image: Hemlock Grove (Gaumont/Netflix)