November 3, 2022
Warner Bros. Discovery on Nov. 3 reported studio revenue for the third quarter (ended September 30) of $2.9 billion, down 9% from revenue of $3.17 billion for the same period last year.
The company attributed the decline in home entertainment revenue to strong COVID-related demand last year as well as fewer theatrical releases year to date, resulting in fewer titles for the home entertainment window.
In fact, the studio’s top-selling packaged media titles are the 2021 film dune and The Batman. Animated blockbuster DC League of Super Pets was released on disc on October 4.
The theatrical performance was fueled by the publications of DC League of Super Pets and don’t worry darlingas well as heavy procrastination elvis, which premiered at the end of June. TV royalty income declined mainly due to fewer theatrical releases, resulting in fewer products available for the pay-one window year-to-date.
Both Super Pets and The Batman are among the top 10 theatrical releases in 2022.
On the bright side, studio operating income increased 43% to $762 million compared to operating income of $556 million a year ago.