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вЂњI donвЂ™t think getting to a profitable outcome is achievable for Wonder Woman 1984,вЂќ says MKM analyst Eric Handler. Greenfield suggests that between its international and HBO Max audience, the film may have been viewed by around 49 million people in its first month.Д®ven so, Wonder Woman 1984 is largely being treated as an expensive marketing ploy for HBO Max, helping push combined HBO Max and HBO subscribers upВ past 41 million two years ahead of schedule. According to Nielsen, HBO Max users spent 2.25 billion minutes streaming the 151-minute film, the equivalent of nearly 15 million complete plays. title to roll out on HBO Max and in theaters, grossed just $131.4 million at the global box office in its first three weekends, but it became a clear home-viewing hit during the week of Christmas. Sure, Wonder Woman 1984, the first Warner Bros.

вЂњWe felt like we had a little bit of a spoiling asset here that needed to be moved,вЂќ Stankey told investors after sharing AT&TвЂ™sВ fourth-quarter earnings results, noting that the company hoped to use вЂњthis unfortunate set of circumstances around the pandemic for an opportunity to make lemonade out of lemons.вЂќ WarnerMedia went one step further, using the collapse of the box office amid coronavirus-related shutdowns to boost HBO Max. But the unpredictable year also gave them cover to enact large corporate reorganizations that placed streaming front and center. Both companies introduced their streamers as the pandemic raged and production delays left them without much of their buzzy launch-year programming. The chase is still on at WarnerMedia and NBCU. At an investor day in December, Disney CFO Christine McCarthy said that content expenses at Disney+ would double to at least $8 billion in fiscal 2024 but that the company expected losses at the streamer to peak in 2021. The service attracted nearly 87 million subscribers in its first 13 months, at the high end of the range that Disney executives wereВ hoping to have signed up by 2024. Investors responded by sending the stock up 13 percent when markets opened the next morning.ДЄt Disney, thereвЂ™s little question as to whether its $2 billion investment into Disney+ has paid off.

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19 that it would have positive free cash flow in 2021 and would no longer have to incur debt to finance its day-to-day operations. After years of burning through cash as it sought to produce enough programming to build up its subscriber base, the company disclosed Jan. Netflix has given HollywoodвЂ™s legacy businesses a road map. вЂњThe single biggest question forВ 2021 is, вЂWhoвЂ™s going to commit the capital to be big enough to matter?вЂ™ Netflix is going to spend $17.5 billion. вЂњI would still call this day one for streaming,вЂќ says LightShed Partners analyst Rich Greenfield. Now, months into the biggest transformation that Hollywood has seen in decades, the entertainment conglomerates have shown that shoveling money into Netflix competitors can produce results, though itвЂ™s too early to know to what end. WarnerMedia, meanwhile, projected that it would record $2 billion in expenses in 2020 related to the launch of HBO Max. When Disney revealed plansВ to forgo licensing deals with Netflix as it prepped for the November 2019 launch of Disney+, it forecast that it would miss out on some $150 million in operating income on top of planned investments into technology and content for the service. The shift to streaming was always going to be expensive. The next day, NBCUniversal CEO Jeff Shell touted PeacockвЂ™s 33 million sign-ups but conceded that the 9-month-old streamer would lose $2 billion in 20. But the good news came with a caveat: $520 million in losses due to the ongoing shutdown of many theaters and subsequent hybrid release plan for the 2021 Warner Bros. 27 that the much-maligned plan to release its films in theaters and on HBO Max had helped to double the streamerвЂ™s audience to 17.2 million active users.

After two months of fielding criticism from some of HollywoodвЂ™s top filmmakers, WarnerMedia executives finally had something to crow about when AT&T CEO John Stankey revealed Jan.

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