S&P Lowers Warner Bros. Discovery Outlook to Negative, Citing Linear TV Decline and Studio Weakness
S&P Global has lowered its outlook on Warner Bros. Discovery from stable to negative and cut its 2024 and ’25 forecasts for the media giant due to continued challenges in its linear networks segment and weakness in its studios segment.
“Wbd’s first-half 2024 financial and operating performance has missed our expectations largely due to the weak operating environment for linear television that continues to face a challenging advertising environment and ongoing subscriber declines,” the firm wrote in a Friday statement. “Additionally, Wbd’s studio has experienced significant volatility over the past several quarters due to the lingering effects of the writers’/actors’ strike that concluded in late 2023 and the volatility at its gaming studio due to the lack of repeated success in 2024 compared to 2023 when the ‘Hogwarts Legacy’ game was a major hit.”
The firm said that the potential loss of the NBA after the 2024-25 season could be a negative...
“Wbd’s first-half 2024 financial and operating performance has missed our expectations largely due to the weak operating environment for linear television that continues to face a challenging advertising environment and ongoing subscriber declines,” the firm wrote in a Friday statement. “Additionally, Wbd’s studio has experienced significant volatility over the past several quarters due to the lingering effects of the writers’/actors’ strike that concluded in late 2023 and the volatility at its gaming studio due to the lack of repeated success in 2024 compared to 2023 when the ‘Hogwarts Legacy’ game was a major hit.”
The firm said that the potential loss of the NBA after the 2024-25 season could be a negative...
- 8/16/2024
- by Lucas Manfredi
- The Wrap
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