Warner Bros. Discovery film studios lift second-quarter results
The period from April though June saw the releases of "A Minecraft Movie," "Sinners," "Final Destination: Bloodlines," and "F1," which together generated $2 billion in the global box office to date, the company said Thursday.
WBD reported total revenue for the studios segment — which also includes distributing TV content — increased 55% during the quarter to $3.8 billion, with theatrical revenue up 38%, excluding the impact of foreign currency exchange, due to the higher box office revenue.
Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, for the studios segment was $863 million during the period, up from $210 million during the same period a year prior.
In a letter to shareholders, WBD said it expects the momentum to continue, with the studios segment projected to generate at least $2.4 billion of adjusted EBITDA for the full year. The company said it was "a substantial step toward" its goal of eventually notching more than $3 billion in adjusted EBITDA for the segment.
While "Superman" was released shortly after the close of the second quarter, the film's success is likely to help lift the third quarter for Warner Bros. Discovery. "Superman" generated $220 million globally during its opening weekend, which the company said was the "strongest ever debut for a solo Superman film."
In late July, "Superman" and Apple's "F1," which Warner Bros. distributed, had more than $500 million in ticket sales, CNBC reported.
Executives have been in the process of rebuilding Warner Bros. Motion Pictures for several quarters now.
In particular, CEO David Zaslav has called out the need to revive the studios since the merger of Warner Bros. and Discovery in 2022. The segment had been plagued by the closure of theaters at the height of stay-at-home orders during the pandemic, followed by a Hollywood shutdown during the actors' and workers' labor strikes in 2023.
To help the unit, the company hired James Gunn and Peter Safran in 2022 as the co-heads of its DC Comics film and TV unit, in a move to steady the ship of the superhero film division. That same year, Warner Bros. appointed Michael De Luca and Pam Abdy as co-heads of Warner Bros. Motion Pictures, each of which had previously led MGM Studios.
"We've had an extraordinary run. You know we were in last place," said Zaslav on Thursday, noting the studios' hires shortly after the merger. "And together we went from last to first. You know, Disney is a little bit ahead right now … But we're really making the turn."
Since the merger, Zaslav has said WBD would lean on its library of franchises, including "Lord of the Rings" and "Harry Potter." On Thursday, Zaslav said the company had the goal of two or three so-called tentpole releases a year, "which provide real stability."
Zaslav also said the company has already "got a great script" for the upcoming "Lord of the Rings" installment from director Peter Jackson. He also noted the next iteration of the "Superman," or the "Super family," franchise is in the works for DC Studios.
Still, the division has been faced with staff cuts, much like the rest of WBD since the 2022 merger. Last month Warner Bros. Motion Picture Group told employees it would cut 10% of its workforce, Deadline reported.
The company is also in the midst of splitting itself apart and essentially undoing the merger of just three years ago. Next year, the present day company will be divided into two units — Warner Bros., comprised of the studios and streaming platform HBO Max; and Discovery Global, made up of the TV networks, Discovery+ and sports business.
Overall, WBD's total revenue increased 1% during the second quarter to $9.81 billion. Adjusted EBITDA rose 9% to $1.95 billion
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
41 minutes ago
- New York Post
Brad Pitt leaning on girlfriend Ines de Ramon as he grieves his mom Jane Etta Pitt's death
Brad Pitt's girlfriend is being his person in the star's time of need. The 'F1' actor, 61, is mourning the loss of his beloved mother, Jane Etta Pitt, who died earlier this week at age 84. Sources are now sharing how Pitt is leaning on Ines de Ramon as he continues to grieve. Advertisement 11 Brad Pitt and Ines de Ramon in New York on June 16, 2025. 11 Jane Pitt and Brad Pitt at the 84th Annual Academy Awards in Los Angeles, California, on February 26, 2012. FilmMagic She 'is supporting Brad as he grieves his mother's loss. She wants to be there for him and Brad is very much letting her be that person,' an insider told People. Advertisement De Ramon, 35, who began dating Pitt in 2022, is also extending her support to Pitt's loved ones. 'Ines is really close with Brad's family as well,' the source shared, adding that the jewelry designer 'immediately reached out to send her condolences as soon as she heard the news.' 11 Jane Etta Pitt, and Brad Pitt attend the local premiere of 'The Devil's Own' at Cinema One in New York City, on March 14, 1997. Penske Media via Getty Images 11 Ines de Ramon and Brad Pitt celebrate the European Premiere of 'F1' in London, England, on June 23, Apple TV+ Advertisement News of Jane's death broke earlier this week, with the movie star's niece, Sydney Pitt, confirming her passing in a heartbreaking post on social media. Sharing several never-before-seen photos of the retired school counselor, Sydney wrote, 'My sweet Grammy, Jane Etta, we were not ready for you to go yet but knowing you are finally free to sing, dance, and paint again makes it a tad easier.' Sharing that her grandma 'had the biggest heart,' Pitt's niece said, 'She cared deeply for everyone and everything, no questions asked.' 11 Brad Pitt's mom, Jane Etta Pitt, holding a red cup while rafting. pidney/Instagram Advertisement 11 Angelina Jolie and Brad Pitt with his parents, William and Jane Pitt, at 'The Curious Case of Benjamin Button' premiere in Los Angeles, California, on December 8, 2008. AFP via Getty Images 11 Brad Pitt's father, William, hugging his giggling wife, Jane. pidney/Instagram 'She taught me how to paint, how to be strong, how to lead with kindness, to love Jesus through everything, and to find joy in the smallest things. She made up the silliest games just to make us laugh, and she believed in fairness, in putting others first, and doing good simply because it was the right thing to do,' she continued. 'I don't know how we move forward without her. But I know she's still here in every brushstroke, every kind gesture, every hummingbird. She was love in its purest form,' Sydney concluded. 'We were truly blessed to have her to love on growing up and I know she lives on through each of us.' Jane married Pitt's father, William Pitt, in 1962. They shared three children: the movie star and his two siblings, Doug and Julie, whom she raised in Springfield, Missouri. 11 (L to R): William Pitt, Jane Pitt, Angelina Jolie and Brad Pitt in New York on December 11, 2005. Getty Images 11 (L-R) Pax Thien Jolie-Pitt, Shiloh Nouve Jolie-Pitt, actor Brad Pitt, Maddox Jolie Pitt, Jane Pitt and William Pitt attend the premiere of 'Unbroken' at TCL Chinese Theatre IMAX in Hollywood, California, on December 15, 2014. FilmMagic While Pitt's parents tried to stay out of the spotlight, both Jane and William accompanied their famous son at the 2014 premiere of his then-wife Angelina Jolie's movie 'Unbroken.' Advertisement Julie also attended several red carpet events with the star over the years, including the 2012 Academy Awards. In June, Pitt gave his mother a sweet shout-out during an interview with Savannah Guthrie on 'Today' while promoting 'F1.' 11 Brad Pitt's mom, Jane Etta Pitt, with some of her family members. pidney/Instagram 11 Jane Etta Pitt with her husband, William, and three of their 14 grandkids. pidney/Instagram Advertisement 'I gotta say hi to my mom because she watches you every morning,' he told Guthrie. 'To Jane Pitt. Love you, Mom,' he added while blowing Jane a kiss. Pitt's rep declined to comment on his mother's passing; however, around the time of her death, he had been shooting Netflix's 'The Adventures of Cliff Booth,' a sequel to 'Once Upon a Time… in Hollywood' that won him an Oscar. Jane's cause of death is not yet known. Advertisement In 2009, Pitt, along with his brother and sister, donated $1 million to a Missouri hospital to open a new wing named the Jane Pitt Pediatric Cancer Center, but it's unclear whether it is somehow related. Pitt's mom left behind three children, her loving husband, and 14 grandkids.
Gizmodo
2 hours ago
- Gizmodo
Robin is Finally Getting Some Cinematic Love Again
To the delight of DC fans online, The Batman Part II has now entered pre-production ahead of its start date in early 2026. Director Matt Reeves and co-writer Mattson Tomlin have been secretive about what to expect from their Bat-sequel, but there've been rumors flying for some time now, with the most recent being that it'll be darker—because of course it'll be, and probably likened to Empire Strikes Back at some point—and will feature Robin, Batman's sidekick. If true, this will make for the third Bat-project to hit the silver screen with the Boy Wonder in tow. Also on deck are the animated stop-motion movie Dynamic Duo, which'll focus on the first two Robins, Dick Grayson and Jason Todd; and Brave and the Bold, which will bring in Batman's biological son Damian Wayne and likely feature other Batfamily members as well. Certainly a far cry from how things used to be: after Batman & Robin, Batman's younger half hasn't been seen in live-action movies. Christopher Nolan's Dark Knight trilogy didn't really have a Robin to speak of—Joseph Gordon-Levitt's John Blake is a fusion of Dick, Jason, and Jason's successor Tim Drake, but is otherwise just some guy Bruce decided to christen Gotham's protector, and Zack Snyder's movies killed a Robin without really specifying which. Of them all, Dick has had the most play in expanded media thanks to animated shows and films like Lego Batman, Teen Titans (both versions), and Young Justice, with Damian a potential close second thanks to several recent animated movies, the adult series Harley Quinn, and Injustice 2. Fan-favorite Robin Tim and his successor/eventual girlfriend Stephanie Brown have been supporting players in Batman: The Animated Series or Titans and Young Justice, but haven't really gotten full spotlights to themselves. And on the low end, Jason really only has Titans and the Under the Red Hood film to his name, while Damian's sort of contemporary Duke Thomas is Robin in the preschool-focused Batwheels. What changed DC's mind to where they've got three Robin-starring projects hitting the big screen? You can put a lot of it on time: sooner or later, WB was going to have to commit to whether Batman was a solo act or had a whole entourage, and if so, how much. With Reeves' Batman and the Brave version reportedly coming from The Flash director Andy Muschietti, Warner Bros. is trying to tackle the second question from both ends: Reeves' version can show Bruce gradually getting a handle on himself to raise a singular young person to help him fight crime, and Muschietti's can show he's come far enough to have a whole family that would follow him to hell and back. Whether those two cinematic versions link up, this dual approach theoretically hits the sweet spot of a mini-cinematic universe where WB can back out if one doesn't resonate with audiences, or tout the success of both if they can each pull their weight. Speaking of pulling weight, there's been a lot of Batman-adjacent media in the past few years. Villains like Joker and Harley Quinn (both individually and as a double act) have gotten their own solo projects, ditto the Penguin and eventually Clayface. The same goes for his allies; Dick, Jason, and Tim were all in Titans, while Jim Gordon and Alfred Pennyworth have headlined their own individual live-action projects, Gotham and Pennyworth. (Gotham is a slight cheat, since a young Bruce Wayne is its co-lead and it eventually becomes a Batman prequel.) Batgirl could've been another addition, but with the movie canceled and locked away, WB seems to have felt Robin is a better candidate—likely helped by there being nearly 10 people associated with that name and a small roadmap to work with. Each Robin incarnation shows how versatile and vital the mantle is, and it's likely why WB is preparing to let multiple versions run around on the big screen. The underappreciated Blue Beetle felt like the studio's first real stab at introducing audiences to a young hero in the vein of Ms. Marvel or Spider-Man, which have since become household names and a hit with younger viewers. To WB's credit, Superman had some young blood in Supergirl and Hawkgirl, but those two are in their early or mid-20s, and their youth isn't the selling point in the way it was for Kamala Khan or Peter Parker. After spending decades avoiding Robin, there's no choice but to embrace him: regardless of who's wearing the domino mask and green pants, a Robin is defined by how young they are. Dynamic Duo, Brave and the Bold, and the Teen Titans movie can hit different sects of the youth demographic in the same way Batman's been doing for years. This always could've happened with Robin, just as it could've with Wonder Woman, Green Lantern, and anyone else in DC's massive roster. WB's biggest problem is often itself, particularly as it pertains to superheroes, and especially when it comes to Batman. But as much of a missed opportunity it's been to go so long without a core part of the character's history on the big screen, whichever of these Robin-led projects hits first will feel like a proper event. This new era of DC movies is a mix of projects meant to give audiences what they've wanted and some things it might not have known it'd like to see. Lucky for them, Robin falls neatly into both categories. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what's next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.
Forbes
2 hours ago
- Forbes
‘Superman' Has An Imminent Streaming Release Date, Raising Questions
We are in a strange time in the world of theatrical releases and their relationship to streaming. You want movies to do well at the box office, but you also need to get more eyeballs on them for streaming rentals, purchases or engagement with your platform. Now, that's happening with Superman, and its newly reported streaming date is eyebrow-raising. Streaming tracker WhentoStream, accurate at predicting things like this, has sources that have told it that Superman will hit streaming on August 26, 2025. That's just a 45 days window since the movie's release on July 11, very, very much on the shorter side of this kind of thing. And it's just about two weeks from today. To be clear, this is a paid release on platforms like Amazon Prime Video, where you'll have to pay $20-25 to rent or buy it, most likely. It will be months later until it shows up on WB's HBO Max. Is this report of 45 days too short to be real? Likely not. This past year alone we had a just 60 day window for rival superhero feature Captain America: Brave New World. And if we're doing DC, the final DCEU film, Aquaman and the Lost Kingdom, arrived on streaming just 32 days after it was in theaters. On the one hand, you can see the idea. Superman has made $565 million at the global box office since it released about a month ago, and it's starting to slow way down. Last weekend it was in fourth place behind Fantastic Four, The Bad Guys 2 and The Naked Gun. Now it will be lower with Weapons releasing and having a solid opening weekend. So with the box office drying out, the window might make sense. On the other hand, if you keep doing this with your blockbusters, all it does is say to your audience that they really don't need to go to theaters each time one of these comes out if they can just wait a few weeks or at worst, a couple months until they can either rent it at home or watch is on a subscription service they already have. The MCU in particular has been said to suffer from this phenomena in recent years. Sure, you might show up for a monster like Spider-Man: No Way Home? But The Marvels? Thunderbolts? If you're just vaguely interested, you might not bother and just wait until it's on D+ in short order. If the DCU starts doing the same thing with very, very short windows, it could end up hurting the overall box office. Half a billion dollars is great, obviously, but it also stands to reason that Superman may be the DCU's biggest movie out of many projects to come, from Supergirl to Clayface, and we might get the 'wait for streaming' plan for those too. But we'll have to wait and see. Follow me on Twitter, YouTube, and Instagram. Pick up my sci-fi novels the Herokiller series and The Earthborn Trilogy.
