Barbie wielded a lot of box-office power this year, raking in over a billion dollars at the global box office and making history as Warner Bros.’ highest-grossing film of all time. But one monster hit wasn’t enough to bring Warner Bros. Discovery into the realm of profitability, according to today’s company earnings call. As Variety and other sources reported, Warner Bros.
Discovery is trying to build new products for streamers while managing the decline of some of its biggest assets, which include the TNT and TBS cable networks,” and noted “streaming proved a bright spot during the period, with direct-to-consumer revenue up 5% thanks to price increases and new partnerships, while ad revenue rose a whopping 30%, as advertisers start moving dollars to chase broadband audiences.” Despite that, the company’s total number of subscribers is down by 700,000 to 95.
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'Barbie' Success Helps Warner Weather Strike, Ad SalesBox office smash 'Barbie' helped Warner Bros Discovery top quarterly profit estimates, but the effect of two Hollywood strikes and a weak advertising market could continue to hamper the company's earnings into next year, the company said Wednesday.
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