Kodak’s First Quarter 2018 Financial Report revealed that while the film division isn’t among the strong performers, motion picture films saw increased revenues.
According to Kodak’s First Quarter 2018 Financial Report, the company had a net loss of $25 million over $357 million in revenue for the quarter that ended on March 31, 2018. Continued growth was seen for the KODAK SONORA Process-Free Plates, KODAK FLEXCEL NX Packaging, and KODAK PROSPER Inkjet imaging solutions. However, the Consumer and Film Division didn’t do so well with revenue of $48 million – a $1 million decline compared to the same quarter last year.
Operational performance (EBITDA) for the Consumer and Film Division also posted a decline, from negative $4 million in the first quarter last year to negative $6 million this year. However, the report also revealed that Kodak’s motion picture film business showed strong performance in this year’s first quarter, with a 20% increase in revenue compared to the same period last year. However, the division’s motion picture film business also reflected strong performance during the quarter. Compared to the same quarter last year, the Q1 2018 revenues for motion picture film increased by 20%.
What does this report tell us? While the sales of consumer products like film during the first few months of this year wasn’t remarkable, Kodak is seeing a growing market for its motion picture films. We can most likely tie this to the highly-successful movies shot of late on film, the best known of which include Kodachrome (2018), A Quiet Place (2018), Ready Player One (2018), Dunkirk (2017), Baby Driver (2017), Wonder Woman (2017), Star Wars: The Last Jedi (2017), and La La Land (2016).
Despite the clamor for consumer emulsions, motion picture films remain Kodak’s biggest revenue driver for the Consumer and Film Division. These include VISION3 500T Color Negative Film and EASTMAN DOUBLE-X Black & White Negative Film, from which CineStill 800Tungsten Film and CineStill bwXX Black & White Film are based off of.
This suggests two things; first, we’ll see more blockbusters going for the unique visual aesthetic of film; and second, CineStill fans could be unknowingly propelling Kodak’s motion picture business forward. That’s something film photographers and film lovers should be excited about.