WBD Posts $9.9B Q2 Net Loss, Disney Records Combined DTC Profit and Animators Face Crisis as Talks Near

Plus: Disney could pay $5B more for Comcast Hulu stake, Sony won’t counter bid for Paramount and NYT adds 300,000 digital subs [Warner Bros Discovery Earnings]( [Warner Bros. Discovery Q2 Net Loss Widens to $9.9 Billion as Company Records $11.2 Billion in Impairment, Restructuring Charges]( By Lucas Manfredi Shares of Warner Bros. Discovery fell over 10% in after-hours trading on Wednesday as the media giant’s net loss for the third quarter of 2024 widened to $9.9 billion and revenue fell 6% year over year, missing Wall Street expectations. “This has been a busy, productive quarter, albeit against the backdrop of what continues to be tough market conditions,” WBD CEO David Zaslav told analysts on Wednesday. “Two plus years after launching our company, we are still in the midst of a long term transition marked by many notable progress points, as well as some tough challenges.” [Read More]( --------------------------------------------------------------- [disney-earnings]( [Disney Swings to First-Ever Combined Streaming Profit of $47 Million in Q3]( By Lucas Manfredi Disney touted its first-ever quarter of streaming profitability across its three streaming services, recording a profit of $47 million in its third quarter of 2024, compared to a loss of $512 million in the prior-year period. Total direct-to-consumer revenue also grew 15% to $6.38 billion. Here are the top-line results: [Read More]( --------------------------------------------------------------- [Animation anger]( [Animation Anger: Hollywood Artists Face Multifaceted Crisis as Contract Talks Near]( By Jeremy Fuster Mike Rianda is trying to get the word out: While Hollywood is enjoying a box office resurgence fueled by animated titles like “Inside Out 2,” workers in the animation industry are facing an existential crisis. Over the past few weeks, the director of “The Mitchells vs. The Machines” has called on animators to anonymously share their personal struggles to forge sustainable careers in Los Angeles. The stories that have poured in paint a picture of an industry where thousands are fighting to find jobs as studios outsource more of them to other countries, while those that do find employment face burnout from ever-increasing workloads beyond their job description. [Read More]( --------------------------------------------------------------- [Disney Could Pay Up to $5 Billion More for Comcast's Hulu Stake]( [sony-paramount-merger]( [Sony Won't Submit Counter Bid for Paramount Global]( [The New York Times Adds 300,000 Digital Subs in Q2 as Total Revenues Rise 6% to $625 Million]( [Savage Ventures Logo]( [Paramount Sells ComicBook, PopCulture Sites to Nashville-Based Savage Ventures | Exclusive]( --------------------------------------------------------------- [WrapPRO logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](