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Warner Bros
Warner Bros. Entertainment Inc. (commonly known as Warner Bros. and abbreviated as WB), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Warner Bros. Studios complex in Burbank, California, and a division of AT&T's WarnerMedia. Founded in 1923 by brothers Harry, Albert, Sam, and Jack Warner, the company established itself as a leader in the American film industry before diversifying into animation, television, and video games, and is one of the "Big Five" major American film studios, as well as a member of the Motion Picture Association (MPA).
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hollywoodreporter.comThe coronavirus pandemic shut down cinemas in many parts of the world for extended periods in 2020, with global box office falling 71 percent from a record of $42.5 billion to $12.4 billion and domestic revenue dropping 80 percent to $2.3 billion, according to Comscore.
That meant Hollywood studios’ profits in many cases dropped despite lower production and other expenses and cost cuts, including layoffs.
Warner Bros. overtook Disney in The Hollywood Reporter's annual film unit profit table, but the latter changed its reporting structure, starting with the final quarter of 2020, amid an increased focus on streaming.
Read more on hollywoodreporter.com
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