 Much to his company's benefit, he would be proven very wrong—between the 1927–28 and 1928–29 fiscal years, Warners' profits surged from $2 million to $14 million.Sound film, in fact, was a clear boon to all the major players in the industry.During that same twelve-month span, Paramount's profits rose by $7 million, Fox's by $3.5 million, and Loew's/MGM's by $3 million.