Earnings season is well underway, and this week the major legacy entertainment studios — Disney, Warner Bros. and Fox — are divulging their second quarter earnings, to mixed receptions.On the bright side for Disney, the company’s theatrical output of late has been stellar, with looking poised to cross the $1 billion threshold this week.
Discovery to engage in some M&A because its current structure did not work, the company did not quell the calls for change as it floundered in its Q2 earnings. Outside of a modest 3.6 million user bump in its streaming offerings, the rest of the report was dire, with not only a 5% drop in revenue during Q2 year-over-year, but also a more than $9 billion charge owing to its financial difficulties.
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