Premier Exhibitions, which owns RMS Titanic Inc., and the touring Titanic exhibition, reported its third quarter fiscal results. According to the press release Titanic and other exhibitions made a “gross profit margin of $1.9 million for the quarter and $10.2 million for the nine months ended November 30, 2010.” However the Bodies portion of the business experienced a loss of $2.3 million in the third quarter. The press release states:
“Having identified the main area of challenge within our business, we have decided to discontinue any further self-operated touring Bodies exhibitions, which will materially lessen our financial exposure. We will reduce our inventory of specimens and cut the fixed license costs by $4 million annually.”
Perhaps a main reason for the Bodies losing money is the ongoing controversy about how those “specimens” are acquired for public display. Some argue that the “specimens” coming from China are former prisoners, dissidents, and others who did not voluntarily will their remains for public display. Now that Premier is discontinuing the exhibition, what will happen to those specimens?
Source: The Street, Premier Exhibitions Reports Fiscal 2011 Third Quarter Results, 11 Jan 2011