It’s all about the lack of major popular releases.
Warner Bros. Discovery Holding has released report for the quarter ended June 30, 2024. The company reported revenue falling to $9.7 billion; a year earlier, revenue was $10.3 billion.
Warner Bros. Discovery’s gaming division saw its revenue fall 41% year-on-year in the same quarter. The company attributes the decline to the failure of Suicide Squad: Kill the Justice League and last year’s success of Hogwarts Legacy.
Unfortunately, the holding company’s report does not disclose the exact revenue of the gaming division. The content division, which includes WB Games, earned $2.2 billion in the quarter; a year ago, revenue was at the level of $2.4 billion.
Although Suicide Squad: Kill the Justice League was released in early February 2024, Warner Bros. has never disclosed the project’s sales. However, it is known that Hogwarts Legacy has sold more than 24 million copies.
There are rumors that Warner Bros. Discovery is considering selling part of its gaming division. The company has neither confirmed nor denied this information.
