Warner Bros Discovery Misses Revenue Estimates on Box Office Weakness 

The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
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Warner Bros Discovery Misses Revenue Estimates on Box Office Weakness 

The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)
The exterior of the Warner Bros. Discovery Atlanta campus in Atlanta, Georgia, US, May 2, 2023. (Reuters)

Warner Bros Discovery missed first-quarter revenue estimates on Thursday, weighed down by a lack of big box office hits from its studio and weakness in its traditional TV business as consumers continued to abandon cable for streaming.

Like others in the media business, Warner Bros Discovery is losing thousands of cable TV subscribers each year, putting pressure on the company to consistently produce hit content and boost profitability in its streaming business.

The threat of US tariffs on foreign-made films has also added to the headaches of an industry whose biggest-budget films are often produced across several continents.

WBD struggled in the January-March quarter to replicate the success of last year's "Dune: Part Two," which grossed more than $700 million. The company's marquee release for the period, Bong Joon Ho's sci-fi dark comedy "Mickey 17," earned only slightly more than its reported budget at the box office.

That meant studios revenue fell 18% to $2.31 billion, missing estimates of $2.73 billion, according to Visible Alpha.

The company has, however, made a strong start to the second quarter with Ryan Coogler's horror film "Sinners" and the blockbuster "A Minecraft Movie," which has raked in nearly $900 million globally, making it the biggest release of 2025 so far. Its summer lineup also looks strong with "Superman," directed by Marvel's long-time hitmaker James Gunn, set to release in July.

Revenue at the TV networks segment, which includes CNN, Discovery Channel and Animal Planet, fell 7%.

Overall, revenue fell 10% in the first three months of 2025 to $8.98 billion, missing analysts' average estimate of $9.60 billion, according to data compiled by LSEG.



Australia Says it Cancelled Kanye West's Visa over 'Heil Hitler' Song

FILE PHOTO: Rapper Kanye West makes a point as he holds his first rally in support of his presidential bid in North Charleston, South Carolina, US July 19, 2020.  REUTERS/Randall Hill/File Photo
FILE PHOTO: Rapper Kanye West makes a point as he holds his first rally in support of his presidential bid in North Charleston, South Carolina, US July 19, 2020. REUTERS/Randall Hill/File Photo
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Australia Says it Cancelled Kanye West's Visa over 'Heil Hitler' Song

FILE PHOTO: Rapper Kanye West makes a point as he holds his first rally in support of his presidential bid in North Charleston, South Carolina, US July 19, 2020.  REUTERS/Randall Hill/File Photo
FILE PHOTO: Rapper Kanye West makes a point as he holds his first rally in support of his presidential bid in North Charleston, South Carolina, US July 19, 2020. REUTERS/Randall Hill/File Photo

Kanye West, also known as Ye, has had his Australian visa cancelled after he released “Heil Hitler”, a song promoting Nazism, the country’s home affairs minister said on Wednesday.

The US rapper released the song that praised the Nazi leader Adolf Hitler across social media and music streaming platforms in May this year.

The song came a few months after West made a string of antisemitic posts on X, which included comments such as "I love Hitler" and "I'm a Nazi".

According to Reuters, Home Affairs Minister Tony Burke said that while previous offensive comments made by West had not affected his visa status, officials “looked at it again” after the song’s release.

“It was a lower level (visa) and the officials still looked at the law and said you're going to have a song and promote that sort of Nazism, we don't need that in Australia," he told national broadcaster ABC on Wednesday.

"We have enough problems in this country already without deliberately importing bigotry."

Burke added that West had family in Australia and had been a longtime visitor prior to the visa cancellation. The singer married his wife Bianca Censori, an Australian architect, in December 2022.

Burke's office declined to comment on the exact date of the visa cancellation. West's management did not respond immediately to a request for comment outside U.S. business hours.

In October 2024, US conservative influencer Candace Owens was also barred from entry into Australia. Burke said “Australia's national interest is best served when Candace Owens is somewhere else”.