Warner Bros Discovery (WBD) revenues for the second quarter increased marginally on the year-ago period to reach $9.8bn as the Streaming and Studios segment saw a 9% rise to $2.8bn buoyed by strong theatrical performances.
For the three months ended June 30 studios revenue increased 55% to $3.8bn and content revenues increased 16% ex-FX, primarily driven by excellent box office that generated more than $2bn worldwide.
A Minecraft Movie opened on April 2 and has grossed more than $955m to date, complemented by Sinners ($365m), F1 on behalf of Apple ($552m), and New Line’s Final Destination: Bloodlines ($285m). The last five theatrical releases have each opened on more than $45m in North America – a first for any studio.
Underscoring the strength of the theatrical business led by