Viacom Quarterly Revenues Down As Rock Band Sales Decline

Viacom, parent company to MTV Games and Rock Band developer Harmonix, said sales of its music game suffered during the quarter "due to the soft retail environment", helping to drive a decline in revenues for the company.

For the fiscal quarter ended June 30, revenues in Viacom's Media Networks division, which houses MTV Games, dropped 8 percent to $1.97 billion. Viacom attributed the decline to "a 41 percent decline in ancillary revenues driven by lower sales of the music video game Rock Band."