Warner Bros. Discovery has released data on significant financial losses that caused a serious impact on its economic indicators. According to the results of the second quarter of 2024, the company recorded a reduction in the value of its TV channels by $ 9.1 billion, which is caused by a fall in the cost of cable television and changes in the US advertising market.
In Warner Bros. Discovery found losses of $ 9.1 billion. Their occurrence is associated with the influence of a number of factors. Among them: disconnect cables, fall ratings and a weak advertising market. Streaming platforms, such as Netflix, turned away from the audience and subscribers from the fact that it was a media industry engine, WSJ notes.
According to the media, Warner Bros Discovery reports lower than expected sales in the second quarter of 2024. At the same time, the company made significant write -offs - its shares fell 11% on OTC bidding.
Disney's competitor reported earlier on Wednesday that the revenue of his television network for the quarter has fallen by 7 percent to $ 2.7 billion.
