Viacom Revenues Decline With Rock Band Sales

Amazon isn't the only company suffering due to low sales at retail. MTV parent company Viacom is reporting an eight percent revenue drop for the fiscal quarter ending June 30, which they blamed on declining sales of Rock Band, Gamasutra reports.
The media giant described the decline as "losses associated with Rock Band due to the soft retail environment," while also pointing to lower advertising revenus and $16 million in severance charges. Viacom chief executive Phillipe Dauman said he feels good about the franchise's long-term prospects though.

"We continue to feel very good about the long-term value that this franchise holds, particularly as we see the downloadable content portion of the business continue to grow," Dauman said, pointing to the fact that Viacom has sold more than 50 million songs via disc or online for Rock Band.

Viacom is counting on the forthcoming The Beatles Rock Band to bolster sales. Dauman called it "a work of art," and said that it "will change the way people look at musical video games."

The Beatles Rock Band will be arriving September 9.