As the Relativity Media bankruptcy continues to play out, more financial details from the company’s recent operations are emerging that confirm the studio’s mounting losses over the past few years.
Relativity posted negative net income for the last three years, losing an astonishing $135 million in 2013 on $379 million in revenue, according to a pro forma document obtained by TheWrap (see image).
In 2014, Ryan Kavanaugh’s company lost a comparatively modest $23 million in earnings before interest, taxes, depreciation and amortization (EBITDA) on $506 million in revenue.
The year 2012 was not much better than the catastrophic 2013, with $85 million in losses on $331 million in revenue.