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The decrease in the profitability of the Industry has "been attributed to a number of factors, including over-expansion in the direction of seating capacity, erection of theatres at an excessive cost per seat, mismanagement within the Industry, payment of inordinately large compensation for services, and the effect of the depression upon the demand for entertainment.
TABLE IV
Gross Income and Net Profit or Loss, 1927-1932 (in thousands)
Year
Gross Income
Net Profit or Loss
1927
$239,426
$8,032
1928
230,266
17,109
1929
343,445
44,400
1930
410,700
40,282
1931
441,948
-8,674
1932
190,795
-30,199
Source: Bureau of Internal Revenue, Statistics of Income,
Net Income by Major Companies
Table V shows the consolidated net income of six major companies for 1932, 1933, and 1934. Attention is directed to the recovery made by the three companies, namely, Pox, Warner, and Paramount, which had the largest net bases in 1932. The totals show that the group loss of $36,519,000 in 1932 had by 1934 been turned into a net income of $14,371,000.
TABLE V
Consolidated Net Income or Loss for Six Major Motion Picture
Companies, 1932-1934 (in thousands)
Company 1932 1933 1934
Group Total -$36,519 $4,568 $14,371
Columbia Pictures Corporation 574 740 1,009
Pox film Corporation 16,151 1,411 3,000 a/
Loetr' s Incorporated 7,961 4,034 7,480
Warner Brothers Pictures, Inc. 14,095 -6,292 -2,530
Universal Pictures 1,250 -1,017 500 a/
Paramount-Publi.c Corporation 13,558 5,692 a/ 5,912 a/
Source: Standard Statistics Company, Standard Trade and Securities.
"Theatres and Motion Pictures, « Vol. 75, No. 22 (Pehruary 20, 1935).
a/ Estimated.
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