Get the latest gossip
Warner Bros. Discovery Narrows Q4 Loss Despite 14% Decline in Ad Revenue
Warner Bros. Discovery Q4 Report: Losses narrowed despite a 14% decline in advertising revenue as cost controls boosted the bottom line
Discovery narrowed its fourth-quarter loss by a significant margin as cost reductions and reduced content production caused by last year’s Hollywood labor stoppages helped it maneuver around a 14% decline in advertising sales and other onerous conditions for traditional media companies. the Warner Bros. studio and the Max streaming service reported a loss of $400 million in its fourth quarter, or 16 cents per share, compared with a loss of $2.1 billion in the year-earlier period, 86 cents per share. “We have an attack plan for 2024 that includes the roll-out of Max in key international markets, a more robust creative pipeline across our film and TV studios, and further progress against our long-range financial goals and are confident in our ability to drive sustained operating momentum and enhanced shareholder value,” said David Zaslav.
Or read this on Variety
