Earnings
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Disney’s EMEA Business Posts $731 Million Profit for 2023, Driven by Disney+ and Strong Film Performance
Turnover, which includes licensing, advertising and subscription revenue, was $4.86 billion for the period covering Oct. 2, 2022, to Sept. 30, 2023
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Lionsgate Slashes Fiscal Q4 Loss to $39.5 Million on Boost in TV Production in First Post-Spinoff Earnings
The media company spun off its TV and film studios from Starz as a separately traded entity earlier this month
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News
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Sony Pictures Nearly Doubles Q4 Income to $196 Million Driven by More Theatrical Releases
Sales rose 13% to $2.6 billion in the quarter but fell 10% for fiscal year 2023 due to strikes and lower licensing revenue
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AMC Networks Stock Falls Over 10% on Q1 Earnings Miss, Ad Revenue Drop
The company cited a “challenging ad market” for the decline despite the success of “The Walking Dead: The Ones Who Live”
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Nexstar Expects to Trim Losses at The CW By $100 Million ‘For the Year’
The company reported a $50 million improvement during its first quarter of 2024
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TV
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Max, Disney+ and Hulu Bundle Allows Streamers to Get Back Into Their ‘Lanes’ During Contraction, WBD Streaming Exec Says
“The business will look very different in two to three years and will be much better for the consumer,” David Zaslav says
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Endeavor Swings to Net Loss of $303.5 Million in Q1
Executives will not hold an earnings call due to a pending take-private transaction with Silver Lake, which will close by the end of Q1 2025
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Business
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Warner Bros. Discovery Narrows Q1 Net Loss 10% to $966 Million, but Studio Profit Drops 70%
The streaming segment posted $86 million in profit and added 2 million DTC subscribers for 99.6 million globally
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Business
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AMC Theaters Q1 Revenue Flat Year-Over-Year Amid Weak Box Office
The theater chain reported $951 million in revenue and slashed its net losses by 72% to $163.5 million
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Movies
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News Corp. Q3 Net Income Falls 29% As News Media Advertising Revenue Declines
CEO Robert Thomson warns of rising tide of “AI-fueled falsehoods” in an “era of polarization”
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Media
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Disney Shares Tumble 9% on Softer Q3 Outlook Despite Nearing Streaming Profitability
The House of Mouse warned its entertainment DTC business would swing to a third quarter loss after posting a $47 million profit
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Business
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Fubo CEO Encouraged by Support From Competitors in Battle Against Disney-Fox-WB Sports Venture: ‘An Existential Challenge’
David Gandler says the streamer has had strong backing in its plan to take down the joint venture
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Apple Revenues Slip 4% to $90.75 Billion on Weaker Device Sales
Net income also fell 2% to $23.64 billion despite the device maker scoring a 14% jump in Services revenues to a quarterly record
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Cinemark Stock Jumps as $579 Million Q1 Revenue Beats Expectations
The Texas-based theater chain dipped just 5% from 2023 revenue despite lower box office performance compared to last year
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Movies
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Amazon’s Prime Video Ad Tier Helps Boost Q1 Ad Revenue By 24% to $11.8 Billion
The Big Tech company, which launched the ad tier in January, also saw an 11% jump in overall subscription revenue
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Business
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