Entertainment And Media News

"Streaming Shake-Up: Industry Giants Pursue Profits Amid Rising Prices and 2024 Revamp"

Hollywood's final earnings season of 2023 showed signs of progress towards streaming profitability, with most companies reporting reduced losses compared to 2022. Wells Fargo analyst Steven Cahall suggested it might be a fundamental moment for media investment. Only Warner Bros. Discovery reported a streaming profit for the first nine months of 2023. Disney cut its losses and grew Disney+ subscribers, while Comcast's Peacock and Paramount Global also saw improvements. However, analysts remain cautious, with MoffettNathanson declaring Netflix the winner of the streaming wars. Despite this, Ampere Analysis predicts that major studio streaming services will reach consistent profitability within the next 18 months, with Disney potentially leading the way by early 2024.