October 22, 2020
With few movie releases due the coronavirus pandemic production shutdowns, and the video game industry awaiting launches of new-generation consoles, Warner Bros. Oct. 22 reported third-quarter (ended Sept. 30) operating revenue of $383 million for its games, home entertainment and ancillary content segment. That was down 23% from revenue of $497 million during the previous-year period.
The studio’s top-selling packaged-media release in 2020 continues to be Oscar-winning Joker.
Theatrical revenue declined more than 22% to $1.06 billion, from $1.37 billion in the same period a year ago. TV production revenue fell almost 35% to $960 million, from $1.46 billion. When combined with games and home entertainment, studio revenue dropped 27.7% to $2.41 billion, from $3.33 billion a year ago.
If there were a silver lining to the results, film and TV production costs in the quarter dropped 27.4% to $1.17 billion, from $1.61 billion during the previous-year period.