After two months of fielding criticism from some of Hollywood’s top filmmakers, WarnerMedia executives finally had something to crow about when AT&T CEO John Stankey revealed Jan.
27 that the much-maligned plan to release its films in theaters and on HBO Max had helped to double the streamer’s audience to 17.2 million active users.
But the good news came with a caveat: $520 million in losses due to the ongoing shutdown of many theaters and subsequent hybrid release plan for the 2021 Warner Bros.
film slate. The next day, NBCUniversal CEO Jeff Shell touted Peacock’s 33 million signups but conceded that the 9-month-old streamer would lose $2 billion in 2020 and 2021.
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