WBD Q1 A Miss Vs ‘Hogwarts Legacy’ Bump A Year Ago; Advertising Dips But Streaming Is Profitable
deadline.comA year ago, Warner Bros. Discovery was raking in cash from astonishing sales of Hogwarts Legacy, the game launched in February of 2023 that had sold more than 12 million units and hit $850 million in global sales in its first two weeks.
CEO David Zaslav said then that games were key to the merged company’s strategy. It made for a very tough comp to this year as the Suicide Squad: Kill the Justice League game, also out in February, was no Hogwarts Legacy.
Games are part of the Studios segment, which saw revenue fall to $2.8 billion from $3.2 billion in the 2024 first quarter from the year before, offsetting theatrical, saw a bump from hugely successful Dune: Part 2 and Godzilla x Kong: The New Empire.
Adjusted ebitda in the division fell sharply to $184 million from over $600 million. TV numbers felt the impact of strikes last year with fewer episodes delivered.
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