Disney and NBCUniversal report studio profit increases

In 2024, several major Hollywood studios experienced mixed financial results as the industry continued to recover from previous challenges, including strikes and the COVID-19 pandemic. NBCUniversal and Disney saw profits rise in their film divisions, while Warner Bros. Discovery and Sony reported declines. Paramount is preparing for a potential sale. The global box office dropped 10% to $30.5 billion last year. Despite this, studios like NBCUniversal and Disney managed to increase their profits. Warner Bros. Discovery, however, faced a 23% decrease in profits to $1.7 billion, largely due to missing out on big hits. Their biggest successes—Dune: Part Two and Godzilla x Kong: The New Empire—were overshadowed by a 4% decline in theatrical revenue and a significant drop in game revenues. NBCUniversal reported a profit of $1.4 billion, up 8%. They had successful films, like Wicked, which ranked high globally, but overall revenue dipped slightly due to decreased theatrical earnings. On the other hand, Disney posted profits of $864 million, reversing losses from the previous year. Their success was driven by hits like Inside Out 2 and Deadpool & Wolverine that dominated the box office. Sony faced a challenging year, with profits down 13% to $628 million. While they celebrated notable releases like Bad Boys: Ride or Die, the impact of earlier strikes continued to disrupt operations, affecting their television production revenue. Paramount’s financial position improved slightly, reducing losses to $96 million. They had a stable revenue of $3 billion but faced long-term challenges, like impending sales talks. In comparison, Netflix reported significant growth, with profits rising by 49% to $7 billion and revenues increasing by 16% to $39 billion. They added millions of new subscribers, showcasing its dominant position in the streaming market. Overall, while some studios excelled, others struggled, reflecting the mixed state of the film and entertainment industry as it adapts to new market conditions.