Diamond Sports Group secured deals with the NBA and NHL to broadcast 13 NBA and 9 NHL teams for the 2024-25 season, marking progress in its ongoing bankruptcy proceedings. However, Amazon withdrew a $115 million investment, citing Diamond's loss of…
Variety looks into Warner Bros. Discovery's myriad of challenges including legal battles, ad sales conflicts, and declining morale at CNN, while struggling to maintain relationships with key stakeholders like advertisers and sports leagues. WBD's financial health, impacted by a $9.1…
TheWrap looks at how legacy media companies are inching toward streaming profitability through cost-cutting, bundling, ad tiers, and price hikes, though challenges remain. Disney posted its first combined streaming profit, with ESPN+ leading the charge, while Paramount+ and Warner Bros.…
The streaming industry faces rising subscriber churn as platforms raise prices and competition heats up. Despite adding 55.2 million subscribers in Q1 2024, 50.4 million cancellations occurred, reflecting market volatility. To combat this, streamers are turning to bundling, ad-supported tiers,…
Lionsgate is on track to split into two companies by the end of 2024, separating its movie studio from the STARZ cable channel and streaming service. Despite a slight dip in subscribers, STARZ remains a strong asset with 21.3 million…
Disney's early streaming profitability highlights the struggles of Warner Bros. Discovery (WBD) and Paramount Global. WBD's Max gained 3.6 million subscribers but lost $107 million last quarter, while Paramount posted a modest $26 million streaming profit. Both companies are heavily…
AMC Networks reported a 600,000 increase in SVOD subscribers in Q2 2024, reaching a total of 11.6 million across platforms like AMC+, Acorn TV, and Shudder. Streaming revenue grew 9% to $150 million, while overall subscription revenue, including linear TV,…
Lionsgate reported first-quarter fiscal 2025 revenue of $834.7 million, an 8% decline year-over-year, with a net loss of $59.4 million. The Studio Business saw a 5.9% revenue drop, with the Motion Picture segment revenue down 15% but profit up 24%.…
News Corp. reported a 6% revenue increase year-over-year to $2.58 billion in Q4 fiscal 2024, with a net income of $71 million, reversing a net loss from the previous year. Growth was driven by digital real estate services, book publishing,…
Warner Bros. Discovery shares dropped over 11% following a disappointing Q2 2024 earnings report, which revealed a $10 billion net loss, including a $9.1 billion impairment charge related to its networks segment. The company cited ongoing challenges in the U.S.…
