Warner Bros. Games Lost Enormous Amount Of Money This Year, CEO Blames Lack Of "Consistency"
During today's Warner Bros. Discovery Q3 earnings call, CEO David Zaslav commented on the company's gaming and film divisions, and how they'll be expected to "deliver more consistency" with their releases. It has been a tough year for Warner Bros. Discovery, as several of its high-profile releases--including Suicide Squad: Kill the Justice League, MultiVersus, and Joker: Folie à Deux--have drastically underperformed.
Zaslav said that the company's games business is currently "underperforming its potential" and that inconsistency remains an issue in its various divisions (via The Verge). Zaslav added that Warner Bros. Games revenue declined 31% between July and September when compared to the previous year, as Mortal Kombat 1 launched during that window in 2023. MultiVersus in particular has led to a big shortfall for Warner Bros. Games.
"We took another $100 million plus impairment due to the underperforming releases, primarily MultiVersus this quarter, bringing total writedown year-to-date to over $300 million in our games business, a key factor in this year’s studio profit decline," chief financial officer Gunnar Wiedenfels said (via IGN).
Continue Reading at GameSpot-
Warner Bros. Hints At More Batman As Part Of Its New Games Strategy
Tech - GameSpot - November 8 -
NBA, Warner Bros. Discovery agree to settle lawsuit over live game rights
Business - CNBC - 4 days ago -
TNT's 'Inside the NBA' headed for ESPN and ABC after Warner Bros. Discovery settlement
Top stories - NBC News - 4 days ago -
Warner Bros. Discovery Swings to Quarterly Profit on Strong Streaming Growth
Business - The Wall Street Journal - November 7 -
How does a gambling site lose money? DraftKings just lost $250 million in revenue — mostly on NFL games.
Business - MarketWatch - November 9 -
Slot challenges Jones to add consistency to game
Top stories - BBC News - November 8 -
Lessons from Man United-Chelsea, Barça win again, Arsenal's lack of depth, more
Sports - ESPN - November 6 -
Democrats Play the Blame Game
Top stories - The New York Times - November 7
More from GameSpot
-
Sony's PC Gaming Earbuds Get Biggest Discount Yet For Black Friday
Tech - GameSpot - 9 hours ago -
Western Digital PS5 SSDs On Sale For Great Prices At Amazon For Black Friday
Tech - GameSpot - 2 days ago -
Two New Dragon Ball Complete Blu-Ray Sets Release Soon, And They Are Steeply Discounted
Tech - GameSpot - October 31 -
Battlefield 2042 Circle of Hell Limited Timed Event Trailer
Tech - GameSpot - October 29 -
Save $40 On EA Sports College Football 25, Madden 25, And More Sports Sims
Tech - GameSpot - 10 hours ago