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Both films performed poorly at the box office, but television performance fees pile up, even on the misses.
That has helped bolster performance fees.
All of Blackstone's investment businesses benefited from stronger performance fees.
Performance fees, a crucial source of profit, fell.
That explains the increasingly widespread use of performance fees.
Those include transaction costs, taxes and management and performance fees.
Management and performance fees reduced this figure by 3.79 percentage points.
Assets under management have fallen by a third and performance fees have fallen sharply.
In a traditional buyout fund, losing bets offset winning ones in calculating the manager's performance fees.
But thanks to performance fees, they keep most of the benefits of their abilities.
The firm charges management fees of 1 percent and performance fees of closer to 20 percent.
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