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Warner Bros. Discovery Wins Over Two More Wall Street Analysts for Upgrades Add Wells Fargo and Wolfe Research analysts to the growing list of Wall Street experts who have turned bullish on Warner Bros. Discovery. Last April saw the creation of the merged Warner Bros. Discovery followed by various cost-cutting challenges for the management team…
Studio Unit Profit Report: Paramount Jets Ahead In Year-to-Year Gains Hollywood studios tried to put COVID-19 in the rear-view mirror in 2022, but cinemas in China were shut for part of the year, there were periods with little new product for screens, the global box office rose 28.4 percent to $25.7 billion (below pre-pandemic levels),…
ITV Studios 2022 Revenue Jumps 19 Percent, ITV Ad Revenue Drops Slightly, First Quarter to Fall 11 Percent U.K. TV giant ITV reported a slight advertising revenue decline for 2022 on Thursday as a strong fourth quarter followed declines earlier in the year, but it said ad revenue for the current first quarter was trending down 11…
Cinemark Swings to Fourth-Quarter Loss as Revenue Dips Even with Avatar: The Way of Water on its screens, cinema giant Cinemark Holdings reported a swing to a loss in the fourth quarter amid falling revenue. As admissions and concessions sales came up short of last year’s performance, Cinemark saw overall revenue fall to $599.7 million for the…
Dish Loses 268,000 Pay TV Subscribers in Fourth Quarter Dish Network lost 268,000 net pay TV subscribers in the fourth quarter, compared with a drop of 273,000 in the year-ago period and a gain of 30,000 in the third quarter of the year. The latest quarter’s figures include subscriber drops for the traditional Dish pay…
Paramount Tops 77M Streaming Subs, Including 56M at Paramount+, Helped by ‘Top Gun: Maverick;’ Streaming Loss Widens to $575M Paramount Global reached more than 77 million streaming subscribers worldwide as of the end of 2022, up from 67 million as of the end of September, as Paramount+ posted a record quarterly user gain, the Hollywood giant…
Take-Two Lowers Guidance, Plans Cost-Cutting Amid “Challenging” Gaming Market Take-Two Interactive saw its net bookings fall below expectations during its fiscal 2023 third quarter as consumers shifted holiday spending toward “established blockbuster franchises” and titles with promotional discounts, the company said on Monday. For the three months ending on Dec. 31, Take-Two brought in $1.41…
Apple Misses Earnings Expectations, But Sets Revenue Record For Services Business In a rarity for the tech giant, Apple missed Wall Street’s earnings and revenue expectations for its first quarter, reporting earnings per share of $1.88 and revenue of $117.15 billion. Both income and revenue came in below totals the year-earlier totals of $2.10 and $123.9…
SiriusXM Grows Subs in Fourth Quarter, Faces “Challenging” Economy and “Material Investments” Audio entertainment giant SiriusXM, the home of Howard Stern, reported on Thursday that it added 162,000 self-pay subscribers in its satellite radio unit in the fourth quarter, but expects a “modest” drop this year amid economic and car industry challenges. SiriusXM also said…
Spotify Hits 205M Paying Subs, Grows Ad Revenue, But Loss Widens Amid Higher Expenses Audio streaming giant Spotify ended 2022 with better-than-expected user growth, but its latest quarterly loss widened amid investments in podcasting growth, among other factors. The company said on Tuesday that it ended the fourth quarter with 205 million premium, or paying, subscribers, up…